$1,799/mo
Principal & Interest
A $300,000 mortgage at 6% interest over 30 years runs approximately $1,799 per month in principal and interest. This is based on borrowing the full $300,000 — if you're putting 20% down on a $375,000 home, the loan amount matches and the payment holds.
Property taxes and homeowner's insurance typically add $300–$600/month, putting total estimated housing costs around $2,099–$2,399/month.
Calculate Your Exact Payment →The $1,799 figure reflects a $300,000 loan at exactly 6.0% over 30 years. Your actual scenario — different home price, down payment, or rate — will produce a different number. The Mortgage Calculator handles all of that in real time.
At 6%, you repay roughly $2.16 for every $1 borrowed. Over 30 years, 53.7% of your total payments go toward interest — meaning more than half of what you pay is the cost of borrowing, not the loan itself. This is where the advantage of a lower rate or shorter term becomes clear.
At 6%, you're sitting in the middle of the historical range. Here's how a $300,000 loan stacks up at rates above and below:
| Interest Rate | Monthly P&I | Total Interest (30yr) | vs. 6% |
|---|---|---|---|
| 3.0% | $1,265 | $155,332 | −$534/mo |
| 4.0% | $1,432 | $215,609 | −$367/mo |
| 5.0% | $1,610 | $279,767 | −$189/mo |
| 6.0% | $1,799 | $347,515 | — |
| 7.0% | $1,996 | $418,527 | +$197/mo |
| 8.0% | $2,201 | $492,467 | +$402/mo |
Locking a 6% rate instead of 7% saves $197/month — which adds up to $71,000 less in total interest over 30 years. Versus a 3% rate, a 6% loan costs $192,000 more in interest over the same term.
Curious how the 15-year term changes things at this rate? At 6%, a 15-year loan on $300K costs $2,532/month but cuts total interest to $155,760 — saving nearly $192,000 vs. the 30-year. See the full 15-year vs. 30-year comparison.
See how 6% (and other rates) play out across different home prices. Each page includes a full rate table, down payment scenarios, and 15yr vs. 30yr comparison.
Browse all 37 price points on the Mortgage & Real Estate hub.
At 6% interest over 30 years, a $300,000 mortgage costs approximately $1,799/month in principal and interest. With property taxes and homeowner's insurance, total monthly housing costs are typically $2,099–$2,399.
On a $300,000 loan at 6%, total interest over 30 years is approximately $347,515 — meaning you pay back a total of $647,515. That's 115.8% of the original loan added purely in interest cost over the life of the mortgage.
On a $300K loan, 6% costs $1,799/month while 7% costs $1,996/month — a difference of $197/month. Over 30 years, the 7% loan costs roughly $71,000 more in total interest. If you're deciding between locking at 6% vs. waiting for a better rate, that's the cost of each percentage point in this range.
By long-term historical standards, 6% is roughly in the middle range. The 50-year average for 30-year fixed mortgages is around 7–8%, so 6% is below average historically. Whether it's "good" depends on the market at the time you're borrowing — in 2021, 6% would have been considered high; in 2025–2026, it's competitive. Use the affordability calculator to see how the payment fits your income.