Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure
Find out repayments, total interest and amortization on a $250k home loan to borrow with confidence.
- Monthly payments on a $250,000 mortgage
- Compare mortgage lenders
- Your total interest on a $250,000 mortgage
- Amortization schedule
Start comparing
If you’re ready to buy a home, you might wonder how to budget for your target home cost. Here’s a breakdown of what you might face monthly, in interest and over the life of a $250,000 mortgage.
Monthly mortgage payment calculator
See how much you'll pay for your home
Your loan |
|---|
| Loan amount |
$ |
| Loan terms (in years) |
| Interest rate |
% |
Fill out the form and click on “Calculate” to see yourestimated monthly payment.
or
Compare lenders
You can expect to pay back$per month
Based on your loan terms
| Principal | $ |
|---|---|
| Interest | $ |
| Total Cost | $ |
-
- Enter how much you want to borrow under Loan amount.
- Type in your mortgage term in years (not months) under the Loan terms field.
- Enter the loan’s interest rate if it doesn’t come with any fees under Interest rate. Note that your monthly mortgage payments will vary depending on your interest rate, taxes, PMI costs and other related fees. If you have this information available, you can enter the annual percentage rate (APR), which includes interest and fees combined.
- Click Calculate.
- Review your results.
Monthly payments on a $250,000 mortgage
At a 7.00% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $1,663 a month, while a 15-year might cost $2,247 a month.
See your monthly payments by interest rate.
| Interest | Mortgage term | Monthly payments |
|---|---|---|
| 5.75% | 15 years | $2,076 |
| 5.75% | 30 years | $1,459 |
| 6.00% | 15 years | $2,110 |
| 6.00% | 30 years | $1,499 |
| 6.25% | 15 years | $2,144 |
| 6.25% | 30 years | $1,539 |
| 6.50% | 15 years | $2,178 |
| 6.50% | 30 years | $1,580 |
| 6.75% | 15 years | $2,212 |
| 6.75% | 30 years | $1,621 |
| 7.00% | 15 years | $2,247 |
| 7.00% | 30 years | $1,663 |
| 7.25% | 15 years | $2,282 |
| 7.25% | 30 years | $1,705 |
| 7.50% | 15 years | $2,318 |
| 7.50% | 30 years | $1,748 |
| 7.75% | 15 years | $2,353 |
| 7.75% | 30 years | $1,791 |
| 8.00% | 15 years | $2,389 |
| 8.00% | 30 years | $1,834 |
| 8.25% | 15 years | $2,425 |
| 8.25% | 30 years | $1,878 |
Compare mortgage lenders
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
1 - 2 of 2
Updated regularly
Your total interest on a $250,000 mortgage
On a 30-year mortgage with a 7.00% fixed interest rate, you’ll pay $348,772 in interest over your loan’s life. That’s about two-thirds of what you borrowed in interest.
If you instead opt for a 15-year mortgage, you’ll pay $154,473 in interest over your loan’s life — or about 46% of the interest you’d pay on a 30-year mortgage.
-
Interest Mortgage term Total interest charged 5.75% 15 years $123,685 5.75% 30 years $275,216 6.00% 15 years $129,736 6.00% 30 years $289,595 6.25% 15 years $135,840 6.25% 30 years $304,145 6.50% 15 years $141,998 6.50% 30 years $318,861 6.75% 15 years $148,209 6.75% 30 years $333,738 7.00% 15 years $154,473 7.00% 30 years $348,772 7.25% 15 years $160,788 7.25% 30 years $363,959 7.50% 15 years $167,156 7.50% 30 years $379,293 7.75% 15 years $173,574 7.75% 30 years $394,771 8.00% 15 years $180,043 8.00% 30 years $410,388 8.25% 15 years $186,563 8.25% 30 years $426,140
Amortization schedule
When you take out a mortgage, you agree to pay the principal and interest over the loan’s life. Your interest rate is applied to your balance, and as you pay down your balance, the amount you pay in interest changes.
Amortization means that at the beginning of your loan, a big percentage of your payment is applied to interest. With each subsequent payment, you pay more toward your balance.
Estimate your monthly loan repayments on a $250,000 mortgage at 7.00% fixed interest with our amortization schedule over 15 and 30 years.
- 30-year loan
- 15-year loan
| Year | Beginning balance | Monthly payment | Total interest paid | Total principal paid | Total paid throughout the year | Remaining balance |
|---|---|---|---|---|---|---|
| 1 | $250,000 | $1,663 | $17,420 | $2,540 | $19,959 | $247,460 |
| 2 | $247,460 | $1,663 | $17,236 | $2,723 | $19,959 | $244,737 |
| 3 | $244,737 | $1,663 | $17,039 | $2,920 | $19,959 | $241,817 |
| 4 | $241,817 | $1,663 | $16,828 | $3,131 | $19,959 | $238,686 |
| 5 | $238,686 | $1,663 | $16,602 | $3,357 | $19,959 | $235,329 |
| 6 | $235,329 | $1,663 | $16,359 | $3,600 | $19,959 | $231,729 |
| 7 | $231,729 | $1,663 | $16,099 | $3,860 | $19,959 | $227,869 |
| 8 | $227,869 | $1,663 | $15,820 | $4,139 | $19,959 | $223,729 |
| 9 | $223,729 | $1,663 | $15,520 | $4,439 | $19,959 | $219,290 |
| 10 | $219,290 | $1,663 | $15,200 | $4,760 | $19,959 | $214,531 |
| 11 | $214,531 | $1,663 | $14,855 | $5,104 | $19,959 | $209,427 |
| 12 | $209,427 | $1,663 | $14,487 | $5,473 | $19,959 | $203,955 |
| 13 | $203,955 | $1,663 | $14,091 | $5,868 | $19,959 | $198,087 |
| 14 | $198,087 | $1,663 | $13,667 | $6,292 | $19,959 | $191,794 |
| 15 | $191,794 | $1,663 | $13,212 | $6,747 | $19,959 | $185,047 |
| 16 | $185,047 | $1,663 | $12,724 | $7,235 | $19,959 | $177,812 |
| 17 | $177,812 | $1,663 | $12,201 | $7,758 | $19,959 | $170,054 |
| 18 | $170,054 | $1,663 | $11,640 | $8,319 | $19,959 | $161,735 |
| 19 | $161,735 | $1,663 | $11,039 | $8,920 | $19,959 | $152,815 |
| 20 | $152,815 | $1,663 | $10,394 | $9,565 | $19,959 | $143,250 |
| 21 | $143,250 | $1,663 | $9,703 | $10,256 | $19,959 | $132,994 |
| 22 | $132,994 | $1,663 | $8,961 | $10,998 | $19,959 | $121,996 |
| 23 | $121,996 | $1,663 | $8,166 | $11,793 | $19,959 | $110,203 |
| 24 | $110,203 | $1,663 | $7,314 | $12,645 | $19,959 | $97,557 |
| 25 | $97,557 | $1,663 | $6,399 | $13,560 | $19,959 | $83,998 |
| 26 | $83,998 | $1,663 | $5,419 | $14,540 | $19,959 | $69,458 |
| 27 | $69,458 | $1,663 | $4,368 | $15,591 | $19,959 | $53,867 |
| 28 | $53,867 | $1,663 | $3,241 | $16,718 | $19,959 | $37,149 |
| 29 | $37,149 | $1,663 | $2,033 | $17,927 | $19,959 | $19,222 |
| 30 | $19,222 | $1,663 | $737 | $19,222 | $19,959 | $0 |
| Year | Beginning balance | Monthly payment | Total interest paid | Total principal paid | Total paid throughout the year | Remaining balance |
|---|---|---|---|---|---|---|
| 1 | $250,000 | $2,247 | $17,190 | $9,774 | $26,965 | $240,226 |
| 2 | $240,226 | $2,247 | $16,484 | $10,481 | $26,965 | $229,744 |
| 3 | $229,744 | $2,247 | $15,726 | $11,239 | $26,965 | $218,506 |
| 4 | $218,506 | $2,247 | $14,914 | $12,051 | $26,965 | $206,454 |
| 5 | $206,454 | $2,247 | $14,042 | $12,922 | $26,965 | $193,532 |
| 6 | $193,532 | $2,247 | $13,108 | $13,857 | $26,965 | $179,675 |
| 7 | $179,675 | $2,247 | $12,107 | $14,858 | $26,965 | $164,817 |
| 8 | $164,817 | $2,247 | $11,032 | $15,932 | $26,965 | $148,885 |
| 9 | $148,885 | $2,247 | $9,881 | $17,084 | $26,965 | $131,801 |
| 10 | $131,801 | $2,247 | $8,646 | $18,319 | $26,965 | $113,482 |
| 11 | $113,482 | $2,247 | $7,321 | $19,643 | $26,965 | $93,838 |
| 12 | $93,838 | $2,247 | $5,901 | $21,063 | $26,965 | $72,775 |
| 13 | $72,775 | $2,247 | $4,379 | $22,586 | $26,965 | $50,189 |
| 14 | $50,189 | $2,247 | $2,746 | $24,219 | $26,965 | $25,970 |
| 15 | $25,970 | $2,247 | $995 | $25,970 | $26,965 | $0 |
Was this content helpful to you?
Thank you for your feedback!
Jing Jun Ma is a tech and data expert with more than a decade of experience in digital marketing and programming. He wrangles data to make it useful for consumers facing a decision.
More guides on Finder
-
Should you prepay a mortgage or invest extra money?
Comparing investment returns vs. mortgage savings.
-
Cornerstone Home Lending mortgage review
Cornerstone Home Lending offers a standard list of mortgage loans with some portfolio options, but you have to contact a loan officer for rates and fees.
-
Getting a mortgage when you’re over 60
Learn what to look for in a mortgage, what to avoid and what to research if you’re thinking about moving into a retirement community.
-
Property transfer process and fees
How to successfully transfer your property to someone else.
-
Want to live like royalty? Here’s how to buy your own castle
It’s not just a fairy tale — you can really buy your own castle.
-
How is interest calculated on a mortgage?
Working out how interest is calculated on a home loan can help you figure out how much you can borrow and how to pay it off sooner.
-
How to remove someone’s name from a property deed
A change in personal circ*mstances may make it necessary to remove a name from a property deed. Here’s how to go about it.
