$1,610/mo
Principal & Interest
A $300,000 mortgage at 5% interest costs approximately $1,610 per month in principal and interest over 30 years. That's based on a fixed rate with no down payment adjustment — if your scenario involves a different home price and down payment, the loan amount will shift the figure proportionally.
Add in property taxes and homeowner's insurance ($300–$600/month depending on location), and total housing costs typically land between $1,910 and $2,210/month.
Calculate Your Exact Payment →The number above assumes exactly $300,000 borrowed at 5% over 30 years. Use the Mortgage Calculator to enter your actual home price, down payment, and rate — and see how those changes affect your monthly payment.
At 5%, you end up paying roughly $1.93 for every $1 borrowed. About 48% of your total payments go toward interest — noticeably more than at 3–4%, but still significantly less than rates above 6.5%.
Rates that feel close together on paper create real differences in monthly cost. Here's the full picture on a $300,000 loan:
| Interest Rate | Monthly P&I | Total Interest (30yr) | vs. 5% |
|---|---|---|---|
| 3.0% | $1,265 | $155,332 | −$345/mo |
| 4.0% | $1,432 | $215,609 | −$178/mo |
| 5.0% | $1,610 | $279,767 | — |
| 6.0% | $1,799 | $347,515 | +$189/mo |
| 7.0% | $1,996 | $418,527 | +$386/mo |
The gap between 5% and 7% is $386/month — and over the full loan term, that rate difference translates to nearly $139,000 more in total interest.
Want to see how a 15-year term compares? At 5%, a 15-year mortgage on $300K costs about $2,372/month but saves roughly $122,000 in interest. See the full 15-year vs. 30-year comparison.
Each page below breaks down monthly payments at your specific home price — with rate tables, down payment scenarios, and a 15yr vs. 30yr comparison.
Browse all 37 price points on the Mortgage & Real Estate hub.
At 5% interest over a 30-year term, a $300,000 mortgage costs approximately $1,610/month in principal and interest. Add property taxes and homeowner's insurance and expect total monthly housing costs of roughly $1,910–$2,210.
Total interest over 30 years at 5% is approximately $279,767, bringing total repayment to $579,767. That's roughly 93% of the original loan added in interest — significantly more than at 3–4%, but well below what you'd pay at 7–8%.
On a $300K loan, a 6% rate adds $189/month compared to 5% ($1,799 vs. $1,610). Over 30 years, that 1% difference costs an additional $67,748 in total interest ($347,515 vs. $279,767).