Home › Calculators › Mortgage calculator › 250000-15y-3
$250,000 mortgage at 3% for 15 years
Fixed-rate amortized payment. Results below are exact for the given inputs.
$1,726.45
monthly payment
Total interest$60,761.74
Total paid$310,761.74
Interest share19.6%
Payments180
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $1,101.45 | $625.00 | $248,898.55 |
| 2 | $1,104.21 | $622.25 | $247,794.34 |
| 3 | $1,106.97 | $619.49 | $246,687.37 |
| 4 | $1,109.74 | $616.72 | $245,577.63 |
| 5 | $1,112.51 | $613.94 | $244,465.12 |
| 6 | $1,115.29 | $611.16 | $243,349.83 |
| 7 | $1,118.08 | $608.37 | $242,231.75 |
| 8 | $1,120.87 | $605.58 | $241,110.88 |
| 9 | $1,123.68 | $602.78 | $239,987.20 |
| 10 | $1,126.49 | $599.97 | $238,860.72 |
| 11 | $1,129.30 | $597.15 | $237,731.41 |
| 12 | $1,132.13 | $594.33 | $236,599.29 |
Frequently asked questions
What is the monthly payment on $250,000 mortgage at 3% for 15 years?
The fixed monthly payment is $1,726.45 (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 $60,761.74, so the total of all payments is $310,761.74.
What income is needed for this payment?
Using the common 28% front-end debt-to-income guideline, a gross monthly income of about $6,166 ($73,991 per year) keeps this payment within budget. Lenders may apply different rules.
How much of the first payment is interest?
The first payment includes $625.00 of interest and $1,101.45 of principal — early payments are interest-heavy because the balance is highest.
Try nearby scenarios
Change the numbers yourself
Open the interactive mortgage calculator — every field is editable.