$300,000 Mortgage Payment
A $300,000 loan — the amount you borrow — costs $2,002 a month in principal and interest on a 30-year fixed at the September 24, 2026 Freddie Mac average of 7.03%. Over 30 years that is $420,700 of interest; a 15-year loan at 6.42% raises the payment to $2,600 but cuts interest to $168,026.
Property tax and insurance are what make the payment local. On the $375,000 home this loan buys with 20% down, they add anywhere from $146 a month in Hawaii to $840 in Texas. In 2026 the loan is conforming in all 3,143 counties.
Loan Parameters
Total Monthly Payment
$2,513
Principal & Interest + Taxes + Insurance
APR 7.030%
Total Interest
$420,700
Total Cost
$904,678
Advanced Parameters
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
N/A
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $24,024 | $3,030 | $20,994 | — | $296,970 | $78,030 |
| Year 2 | $24,024 | $3,250 | $20,774 | — | $293,720 | $81,280 |
| Year 3 | $24,024 | $3,486 | $20,538 | — | $290,234 | $84,766 |
| Year 4 | $24,024 | $3,739 | $20,285 | — | $286,495 | $88,505 |
| Year 5 | $24,024 | $4,010 | $20,013 | — | $282,485 | $92,515 |
| Year 6 | $24,024 | $4,302 | $19,722 | — | $278,183 | $96,817 |
| Year 7 | $24,024 | $4,614 | $19,410 | — | $273,569 | $101,431 |
| Year 8 | $24,024 | $4,949 | $19,074 | — | $268,620 | $106,380 |
| Year 9 | $24,024 | $5,308 | $18,715 | — | $263,312 | $111,688 |
| Year 10 | $24,024 | $5,694 | $18,330 | — | $257,618 | $117,382 |
| Year 11 | $24,024 | $6,107 | $17,916 | — | $251,511 | $123,489 |
| Year 12 | $24,024 | $6,551 | $17,473 | — | $244,960 | $130,040 |
| Year 13 | $24,024 | $7,026 | $16,997 | — | $237,933 | $137,067 |
| Year 14 | $24,024 | $7,537 | $16,487 | — | $230,397 | $144,603 |
| Year 15 | $24,024 | $8,084 | $15,940 | — | $222,313 | $152,687 |
| Year 16 | $24,024 | $8,671 | $15,353 | — | $213,642 | $161,358 |
| Year 17 | $24,024 | $9,300 | $14,723 | — | $204,342 | $170,658 |
| Year 18 | $24,024 | $9,976 | $14,048 | — | $194,366 | $180,634 |
| Year 19 | $24,024 | $10,700 | $13,324 | — | $183,666 | $191,334 |
| Year 20 | $24,024 | $11,477 | $12,547 | — | $172,190 | $202,810 |
| Year 21 | $24,024 | $12,310 | $11,713 | — | $159,879 | $215,121 |
| Year 22 | $24,024 | $13,204 | $10,819 | — | $146,675 | $228,325 |
| Year 23 | $24,024 | $14,163 | $9,861 | — | $132,512 | $242,488 |
| Year 24 | $24,024 | $15,191 | $8,832 | — | $117,321 | $257,679 |
| Year 25 | $24,024 | $16,294 | $7,729 | — | $101,027 | $273,973 |
| Year 26 | $24,024 | $17,477 | $6,546 | — | $83,550 | $291,450 |
| Year 27 | $24,024 | $18,746 | $5,277 | — | $64,803 | $310,197 |
| Year 28 | $24,024 | $20,108 | $3,916 | — | $44,696 | $330,304 |
| Year 29 | $24,024 | $21,568 | $2,456 | — | $23,128 | $351,872 |
| Year 30 | $24,018 | $23,128 | $890 | — | $0 | $375,000 |
$300,000 mortgage at a glance
- Loan amount
- $300,000
- Conforming in all 3,143 counties
- Home price at 20% down
- $375,000
- $75,000 down payment
- Principal & interest, 30-year
- $2,002/mo
- At 7.03% (PMMS, September 24, 2026)
- Principal & interest, 15-year
- $2,600/mo
- At 6.42%
- Total interest, 30 vs 15 years
- $420,700 vs $168,026
- 15-year saves $252,675
- Payment with tax & insurance
- $2,148 – $2,842
- Hawaii to Texas
- Income needed (28% rule)
- $93,000 – $122,000
- Depends on state tax & insurance
$300,000 mortgage payment by interest rate
Monthly totals include property tax and homeowners insurance. Highlighted row is nearest the September 24, 2026 Freddie Mac 30-year average.
| Rate | 30-yr P&I | 30-yr total | 30-yr interest | 15-yr P&I | 15-yr total | 15-yr interest |
|---|---|---|---|---|---|---|
| 5.75% | $1,751 | $2,262 | $330,259 | $2,491 | $3,002 | $148,421 |
| 6.00% | $1,799 | $2,310 | $347,514 | $2,532 | $3,043 | $155,683 |
| 6.25% | $1,847 | $2,358 | $364,974 | $2,572 | $3,083 | $163,009 |
| 6.50% | $1,896 | $2,407 | $382,632 | $2,613 | $3,124 | $170,398 |
| 6.75% | $1,946 | $2,457 | $400,484 | $2,655 | $3,166 | $177,851 |
| 7.00% | $1,996 | $2,507 | $418,528 | $2,696 | $3,208 | $185,366 |
| 7.25% | $2,047 | $2,558 | $436,751 | $2,739 | $3,250 | $192,946 |
| 7.50% | $2,098 | $2,609 | $455,150 | $2,781 | $3,292 | $200,587 |
| 7.75% | $2,149 | $2,660 | $473,726 | $2,824 | $3,335 | $208,289 |
| 8.00% | $2,201 | $2,712 | $492,464 | $2,867 | $3,378 | $216,053 |
| 8.25% | $2,254 | $2,765 | $511,368 | $2,910 | $3,421 | $223,876 |
$300,000 mortgage payment by state
30-year fixed at 7.03%, $375,000 home with 20% down. Rank 1 = most expensive.
| State | Tax / mo | Insurance / mo | Total / mo | Rank | Income needed | Loan type |
|---|---|---|---|---|---|---|
| Alabama | $116 | $303 | $2,420 | 33 | $104,000 | Conforming |
| Alaska | $294 | $116 | $2,412 | 36 | $104,000 | Conforming |
| Arizona | $150 | $195 | $2,347 | 43 | $101,000 | Conforming |
| Arkansas | $175 | $311 | $2,488 | 25 | $107,000 | Conforming |
| California | $234 | $135 | $2,371 | 42 | $102,000 | Conforming |
| Colorado | $156 | $414 | $2,572 | 16 | $111,000 | Conforming |
| Connecticut | $481 | $159 | $2,642 | 10 | $114,000 | Conforming |
| Delaware | $169 | $115 | $2,285 | 49 | $98,000 | Conforming |
| Florida | $244 | $595 | $2,840 | 2 | $122,000 | Conforming |
| Georgia | $247 | $194 | $2,442 | 30 | $105,000 | Conforming |
| Hawaii | $91 | $55 | $2,148 | 50 | $93,000 | Conforming |
| Idaho | $156 | $187 | $2,345 | 44 | $101,000 | Conforming |
| Illinois | $588 | $220 | $2,810 | 5 | $121,000 | Conforming |
| Indiana | $238 | $241 | $2,480 | 26 | $107,000 | Conforming |
| Iowa | $416 | $242 | $2,659 | 9 | $114,000 | Conforming |
| Kansas | $378 | $438 | $2,818 | 4 | $121,000 | Conforming |
| Kentucky | $231 | $337 | $2,570 | 17 | $111,000 | Conforming |
| Louisiana | $172 | $499 | $2,673 | 7 | $115,000 | Conforming |
| Maine | $306 | $111 | $2,419 | 34 | $104,000 | Conforming |
| Maryland | $288 | $160 | $2,449 | 29 | $105,000 | Conforming |
| Massachusetts | $313 | $124 | $2,438 | 31 | $105,000 | Conforming |
| Michigan | $372 | $244 | $2,618 | 12 | $113,000 | Conforming |
| Minnesota | $313 | $227 | $2,542 | 22 | $109,000 | Conforming |
| Mississippi | $181 | $211 | $2,394 | 39 | $103,000 | Conforming |
| Missouri | $278 | $332 | $2,612 | 13 | $112,000 | Conforming |
| Montana | $191 | $268 | $2,461 | 28 | $106,000 | Conforming |
| Nebraska | $450 | $379 | $2,831 | 3 | $122,000 | Conforming |
| Nevada | $156 | $148 | $2,306 | 47 | $99,000 | Conforming |
| New Hampshire | $469 | $108 | $2,579 | 15 | $111,000 | Conforming |
| New Jersey | $588 | $118 | $2,708 | 6 | $117,000 | Conforming |
| New Mexico | $197 | $239 | $2,438 | 32 | $105,000 | Conforming |
| New York | $406 | $140 | $2,548 | 21 | $110,000 | Conforming |
| North Carolina | $206 | $260 | $2,469 | 27 | $106,000 | Conforming |
| North Dakota | $288 | $249 | $2,538 | 23 | $109,000 | Conforming |
| Ohio | $425 | $177 | $2,603 | 14 | $112,000 | Conforming |
| Oklahoma | $247 | $418 | $2,666 | 8 | $115,000 | Conforming |
| Oregon | $253 | $131 | $2,386 | 40 | $103,000 | Conforming |
| Pennsylvania | $394 | $127 | $2,523 | 24 | $109,000 | Conforming |
| Rhode Island | $350 | $204 | $2,556 | 20 | $110,000 | Conforming |
| South Carolina | $153 | $248 | $2,403 | 38 | $103,000 | Conforming |
| South Dakota | $313 | $313 | $2,628 | 11 | $113,000 | Conforming |
| Tennessee | $163 | $247 | $2,411 | 37 | $104,000 | Conforming |
| Texas | $500 | $340 | $2,842 | 1 | $122,000 | Conforming |
| Utah | $150 | $151 | $2,303 | 48 | $99,000 | Conforming |
| Vermont | $472 | $89 | $2,562 | 19 | $110,000 | Conforming |
| Virginia | $244 | $173 | $2,419 | 35 | $104,000 | Conforming |
| Washington | $234 | $146 | $2,382 | 41 | $103,000 | Conforming |
| West Virginia | $159 | $155 | $2,316 | 46 | $100,000 | Conforming |
| Wisconsin | $413 | $151 | $2,565 | 18 | $110,000 | Conforming |
| Wyoming | $166 | $173 | $2,341 | 45 | $101,000 | Conforming |
Frequently asked questions
What is the monthly payment on a $300,000 mortgage?
Principal and interest are $2,002 a month on a 30-year fixed at 7.03%, or $2,600 on a 15-year at 6.42%. With property tax and insurance on a $375,000 home (20% down), the total ranges from $2,148 in Hawaii to $2,842 in Texas.
Is $300,000 a jumbo loan?
In 2026, a $300,000 one-unit loan is conforming in all 3,143 counties. The baseline conforming limit is $832,750; high-cost counties go up to $1,249,125.
How much income do I need for a $300,000 mortgage?
Between about $93,000 and $122,000 a year to keep the full payment within 28% of gross income, depending on the state's property tax and insurance costs.
Explore related calculators
Other loan amounts
Calculators by loan type
Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.