$1,663/mo
Est. monthly payment
A $250,000 mortgage costs about $1,663/month at 7% interest over a 30-year loan. That covers principal and interest only — property taxes and homeowners insurance bring the realistic total to $2,000–$2,300/month. Down payment assumed at 0%; with 20% down ($50,000), the payment drops to $1,331/month and PMI is eliminated.
Adjust the numbers below to see how your payment changes:
Open Mortgage Calculator →Each percentage point on a $250,000 loan adds roughly $165/month and $55,000+ in total interest over 30 years.
| Interest Rate | Monthly P&I | Total Interest (30yr) |
|---|---|---|
| 5.0% | $1,342 | $233,139 |
| 6.0% | $1,499 | $289,595 |
| 6.5% | $1,580 | $318,861 |
| 7.0% | $1,663 | $348,772 |
| 7.5% | $1,748 | $379,293 |
| 8.0% | $1,834 | $410,388 |
A larger down payment shrinks both the loan and monthly cost. At 20%, you also eliminate PMI ($100–$200/month on a $250K home).
| Down Payment | Loan Amount | Monthly P&I | Monthly Savings |
|---|---|---|---|
| 0% ($0) | $250,000 | $1,663 | — |
| 3.5% ($8,750) | $241,250 | $1,605 | $58 |
| 5% ($12,500) | $237,500 | $1,580 | $83 |
| 10% ($25,000) | $225,000 | $1,497 | $166 |
| 20% ($50,000) | $200,000 | $1,331 | $332 + no PMI |
| Loan Term | Monthly P&I | Total Interest | Total Paid |
|---|---|---|---|
| 30 years | $1,663 | $348,770 | $598,770 |
| 15 years | $2,247 | $154,500 | $404,500 |
The 15-year option raises your payment by $584/month but saves $194,270 in interest.
Beyond principal and interest, here's the realistic monthly cost on a $250,000 mortgage at 7%:
PMI adds $100–$200/month if you put less than 20% down. Some properties carry HOA fees. Use the mortgage calculator to include every cost.
At 7% over 30 years, P&I runs roughly $1,663/month. With taxes and insurance, expect $2,000–$2,300/month.
The 28% DTI rule suggests roughly $71,000–$76,000/year gross. Lower monthly debts widen the range your lender will approve.
With $50,000 down, you finance $200,000. At 7% for 30 years: $1,331/month P&I — and no PMI.
Each 1% swing moves your payment by ~$165/month. At 5%: $1,342. At 7%: $1,663. At 8%: $1,834. Over 30 years, that extra percent costs roughly $55,000 in additional interest.
At 7% for 30 years: about $348,770. Total repayment: $598,770. A 15-year term brings interest down to ~$154,500.
15-year: $2,247/month, $154,500 total interest. 30-year: $1,663/month, $348,770 total interest. You save $194,270 with the shorter term but need $584 more per month. Compare scenarios.