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$100,000 mortgage at 8% for 15 years
Fixed-rate amortized payment. Results below are exact for the given inputs.
$955.65
monthly payment
Total interest$72,017.38
Total paid$172,017.38
Interest share41.9%
Payments180
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $288.99 | $666.67 | $99,711.01 |
| 2 | $290.91 | $664.74 | $99,420.10 |
| 3 | $292.85 | $662.80 | $99,127.25 |
| 4 | $294.80 | $660.85 | $98,832.45 |
| 5 | $296.77 | $658.88 | $98,535.68 |
| 6 | $298.75 | $656.90 | $98,236.93 |
| 7 | $300.74 | $654.91 | $97,936.19 |
| 8 | $302.74 | $652.91 | $97,633.45 |
| 9 | $304.76 | $650.89 | $97,328.69 |
| 10 | $306.79 | $648.86 | $97,021.89 |
| 11 | $308.84 | $646.81 | $96,713.05 |
| 12 | $310.90 | $644.75 | $96,402.15 |
Frequently asked questions
What is the monthly payment on $100,000 mortgage at 8% for 15 years?
The fixed monthly payment is $955.65 (180 payments), assuming standard amortization with no fees, taxes or insurance.
How much interest do I pay in total?
Total interest over 15 years is $72,017.38, so the total of all payments is $172,017.38.
What income is needed for this payment?
Using the common 28% front-end debt-to-income guideline, a gross monthly income of about $3,413 ($40,957 per year) keeps this payment within budget. Lenders may apply different rules.
How much of the first payment is interest?
The first payment includes $666.67 of interest and $288.99 of principal — early payments are interest-heavy because the balance is highest.
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Open the interactive mortgage calculator — every field is editable.