What will your mortgage cost?
Use the guides below to see detailed payment breakdowns for different mortgage amounts. Each page includes monthly payments at various interest rates, total interest over the life of the loan, 25-year vs 30-year amortization comparisons, and tips for reducing your mortgage costs.
Monthly payments by mortgage amount
| Mortgage Amount | Monthly Payment (4%)* | Monthly Payment (5%)* | Monthly Payment (6%)* | Guide |
|---|---|---|---|---|
| $100,000 | $526 | $582 | $640 | View breakdown → |
| $200,000 | $1,052 | $1,163 | $1,280 | View breakdown → |
| $300,000 | $1,578 | $1,745 | $1,919 | View breakdown → |
| $400,000 | $2,104 | $2,326 | $2,559 | View breakdown → |
| $500,000 | $2,630 | $2,908 | $3,199 | View breakdown → |
| $600,000 | $3,156 | $3,490 | $3,839 | View breakdown → |
| $700,000 | $3,682 | $4,071 | $4,479 | View breakdown → |
| $800,000 | $4,209 | $4,653 | $5,119 | View breakdown → |
| $900,000 | $4,735 | $5,235 | $5,758 | View breakdown → |
| $1,000,000 | $5,261 | $5,816 | $6,398 | View breakdown → |
*25-year amortization, monthly payments. Includes principal and interest only.
How mortgage costs work
Your mortgage cost is made up of two parts:
- Principal — the amount you borrowed, which gets paid down over the amortization period
- Interest — what the lender charges for lending you the money
In the early years of your mortgage, the majority of each payment goes toward interest. Over time, the balance shifts and more goes toward principal. This is called amortization.
25-year vs 30-year amortization comparison
| Mortgage | 25-Year Monthly | 30-Year Monthly | Monthly Savings | Extra Interest (30-yr) |
|---|---|---|---|---|
| $300,000 | $1,745 | $1,602 | $143 | ~$56,000 |
| $500,000 | $2,908 | $2,670 | $238 | ~$94,000 |
| $700,000 | $4,071 | $3,738 | $333 | ~$131,000 |
| $1,000,000 | $5,816 | $5,340 | $476 | ~$187,000 |
At 5% interest rate. Lower payments with 30-year amortization come at a significant total cost.