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$250,000 mortgage at 2.5% for 15 years
Fixed-rate amortized payment. Results below are exact for the given inputs.
$1,666.97
monthly payment
Total interest$50,055.14
Total paid$300,055.14
Interest share16.7%
Payments180
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $1,146.14 | $520.83 | $248,853.86 |
| 2 | $1,148.53 | $518.45 | $247,705.33 |
| 3 | $1,150.92 | $516.05 | $246,554.41 |
| 4 | $1,153.32 | $513.66 | $245,401.09 |
| 5 | $1,155.72 | $511.25 | $244,245.37 |
| 6 | $1,158.13 | $508.84 | $243,087.25 |
| 7 | $1,160.54 | $506.43 | $241,926.70 |
| 8 | $1,162.96 | $504.01 | $240,763.75 |
| 9 | $1,165.38 | $501.59 | $239,598.36 |
| 10 | $1,167.81 | $499.16 | $238,430.55 |
| 11 | $1,170.24 | $496.73 | $237,260.31 |
| 12 | $1,172.68 | $494.29 | $236,087.63 |
Frequently asked questions
What is the monthly payment on $250,000 mortgage at 2.5% for 15 years?
The fixed monthly payment is $1,666.97 (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 $50,055.14, so the total of all payments is $300,055.14.
What income is needed for this payment?
Using the common 28% front-end debt-to-income guideline, a gross monthly income of about $5,953 ($71,442 per year) keeps this payment within budget. Lenders may apply different rules.
How much of the first payment is interest?
The first payment includes $520.83 of interest and $1,146.14 of principal — early payments are interest-heavy because the balance is highest.
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Change the numbers yourself
Open the interactive mortgage calculator — every field is editable.