Monthly payment on $375,000 by rate and term
Principal and interest on the $300,000 borrowed after a 20% deposit of $75,000. The rate is the single biggest lever, which is why it is worth shopping.
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5.50% | $1,703.37 | $2,063.66 | $2,451.25 |
| 6.00% | $1,798.65 | $2,149.29 | $2,531.57 |
| 6.50% | $1,896.20 | $2,236.72 | $2,613.32 |
| 7.00% | $1,995.91 | $2,325.90 | $2,696.48 |
| 7.50% | $2,097.64 | $2,416.78 | $2,781.04 |
| 8.00% | $2,201.29 | $2,509.32 | $2,866.96 |
Principal and interest only, before taxes, insurance and any PMI.
How the deposit changes it
| Down payment | Loan | P&I | PMI | PMI ends |
|---|---|---|---|---|
| 5% ($18,750) | $356,250 | $2,251.74 | $163.28 | month 135 |
| 10% ($37,500) | $337,500 | $2,133.23 | $154.69 | month 109 |
| 20% ($75,000) | $300,000 | $1,896.20 | — | not charged |
At 6.5% over 30 years. PMI applies above 80% loan-to-value and is cancelled automatically at 78%.
Frequently asked questions
What is the monthly payment on a $375,000 house?
With 20% down at 6.5% over 30 years, principal and interest are $1,896.20 a month. Adding property tax and insurance brings the full payment to about $2,389.95.
How much do I need to put down on a $375,000 home?
20% is $75,000, which avoids PMI. At 5% down ($18,750) you would borrow $356,250 and pay an extra $163.28 a month in PMI until month 135.
How much interest does a $375,000 mortgage cost?
On the $300,000 borrowed at 6.5% over 30 years, total interest is $382,637 — about 128% of the amount borrowed. A 15-year term cuts that to $170,398.
Nearby prices
Related tools
- Amortization schedule — every payment on this loan, with CSV export
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