How Much Will a $250K Mortgage Cost Per Month?

$250K mortgage payment by interest rate

30-year fixed, P&I only:

• 5.0% rate: $1,342/month
• 5.5% rate: $1,419/month
• 6.0% rate: $1,499/month
• 6.5% rate: $1,580/month
• 7.0% rate: $1,663/month
• 7.5% rate: $1,748/month
• 8.0% rate: $1,834/month

$250K mortgage by term length

At a 6.5% rate:

• 30-year: $1,580/month, $319K total interest
• 20-year: $1,864/month, $197K total interest
• 15-year (5.75%): $2,076/month, $124K total interest
• 10-year (5.5%): $2,713/month, $76K total interest

Full monthly housing cost

On a $312,500 home with $250K mortgage (20% down) at 6.5%:

• Principal + interest: $1,580
• Property tax (1.1% avg): $286
• Homeowner's insurance: $125
• Total PITI: about $1,991/month

Income needed for a $250K mortgage

Using the 28% rule:

• Comfortable: $85,000–$95,000 annual income
• Stretched: $70,000–$84,000
• Tight: under $68,000

Total cost over 30 years

• Loan amount: $250,000
• Total interest paid: about $319,000
• Total paid: about $569,000

You repay more than 2× the loan amount across 30 years.

Slash the cost with extra payments

Adding $150/month to a $250K loan at 6.5%:

• Loan paid off in about 24.5 years
• Total interest saved: about $68,000

Use the calculator