Mortgage calculator · $250,000 loan
$250,000 Mortgage Payment
At this week’s 7.28% average 30-year fixed rate, a $250,000 mortgage costs $1,711 a month in principal and interest. A year ago, at 6.25%, the same loan cost $1,539. Here is the full cost, the income it takes and how the payment has moved with rates.
- 30-year at 7.28% $1,711/mo principal + interest
- 15-year at 6.6% $2,192/mo principal + interest
- Total interest $365,791 30 years, kept to term
- Income needed $73,308 P&I at 28% of gross
Mortgage · monthly payment
Your full payment on a $250,000 loan
Set up as a $312,500 home with 20% down at this week’s 7.28% rate. Property tax and insurance are rough placeholders; change any figure to see your real monthly cost.
What's in the payment
- Loan amount
- —
- Total interest paid
- —
- Total of payments
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- Payoff
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Amortization schedule year by year — principal, interest & balance
Balance over time
| Year | Principal | Interest | Balance |
|---|
Principal & interest only — taxes, insurance and PMI aren't amortized.
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What a $250,000 loan has cost over the years
The monthly principal and interest on a 30-year $250,000 loan at each year’s average rate. The 18.63% record from 1981 is shown for scale, though its bar is capped.
At the all-time low of 2.65% on January 7, 2021, this loan would have cost $1,007 a month, $703 less than today. See every year on historical mortgage rates.
The same $250,000 loan at different rates
| Rate | Monthly P&I | vs today | Total interest |
|---|---|---|---|
| 5% | $1,342 | −$368 | $233,139 |
| 5.5% | $1,419 | −$291 | $261,010 |
| 6% | $1,499 | −$212 | $289,595 |
| 6.5% | $1,580 | −$130 | $318,861 |
| 7% | $1,663 | −$47 | $348,772 |
| 7.28% (today) | $1,711 | — | $365,791 |
| 7.5% | $1,748 | +$38 | $379,293 |
| 8% | $1,834 | +$124 | $410,388 |
Every full point on the rate moves this payment by roughly $173 a month.
30-year or 15-year?
The 15-year loan costs $481 more each month but saves $221,315 in interest and clears the debt in half the time.
Where the payments go
Early payments are mostly interest. In the first year of the 30-year loan you would pay about $18,121 in interest and only $2,406 toward the balance. After five years you would still owe about $236,020, and after ten years about $215,923. The amortization calculator shows the full schedule, and the early payoff calculator shows what extra payments save.
Income and home price
Keeping principal and interest to 28% of gross pay takes an income of about $73,308. Property tax, insurance and PMI come on top, so the real figure is higher. With 20% down, a $250,000 loan buys a $312,500 home; with 10% down, about $277,778. To work backward from your income, try the home affordability calculator.
$250,000 mortgage — FAQ
What is the monthly payment on a $250,000 mortgage?
At the 7.28% national average 30-year fixed rate for the week of October 1, 2026, principal and interest on a $250,000 loan come to about $1,711 a month. On a 15-year fixed at 6.6%, it is about $2,192. Property tax, homeowners insurance and any PMI are added on top.
How much income do I need for a $250,000 mortgage?
Lenders commonly cap housing costs at 28% of gross monthly income. Principal and interest alone on a 30-year $250,000 loan at 7.28% would need an income of about $73,308 a year. Taxes, insurance and other debts raise that figure.
How much interest will I pay on a $250,000 mortgage?
Over 30 years at 7.28%, you would pay about $365,791 in interest if you keep the loan to term. A 15-year loan at 6.6% cuts that to about $144,476, a saving of $221,315, in exchange for a payment $481 a month higher.
How much does a 1% higher rate add to a $250,000 mortgage payment?
Going from 7.28% to 8.28% on a 30-year $250,000 loan adds about $173 a month, or $62,248 over the full term.
Rates are the national average from the Freddie Mac Primary Mortgage Market Survey® for the week of October 1, 2026. Payments are principal and interest only on a fixed-rate loan. Your rate depends on your credit, down payment and lender.
