Home › Calculators › Mortgage calculator › 300000-15y-2.5
$300,000 mortgage at 2.5% for 15 years
Fixed-rate amortized payment. Results below are exact for the given inputs.
$2,000.37
monthly payment
Total interest$60,066.17
Total paid$360,066.17
Interest share16.7%
Payments180
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $1,375.37 | $625.00 | $298,624.63 |
| 2 | $1,378.23 | $622.13 | $297,246.40 |
| 3 | $1,381.10 | $619.26 | $295,865.30 |
| 4 | $1,383.98 | $616.39 | $294,481.31 |
| 5 | $1,386.86 | $613.50 | $293,094.45 |
| 6 | $1,389.75 | $610.61 | $291,704.69 |
| 7 | $1,392.65 | $607.72 | $290,312.04 |
| 8 | $1,395.55 | $604.82 | $288,916.49 |
| 9 | $1,398.46 | $601.91 | $287,518.04 |
| 10 | $1,401.37 | $599.00 | $286,116.66 |
| 11 | $1,404.29 | $596.08 | $284,712.37 |
| 12 | $1,407.22 | $593.15 | $283,305.16 |
Frequently asked questions
What is the monthly payment on $300,000 mortgage at 2.5% for 15 years?
The fixed monthly payment is $2,000.37 (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 $60,066.17, so the total of all payments is $360,066.17.
What income is needed for this payment?
Using the common 28% front-end debt-to-income guideline, a gross monthly income of about $7,144 ($85,730 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 $1,375.37 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.