$350,000 mortgage payment by interest rate
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5% | $1,879 | $2,310 | $2,768 |
| 5.5% | $1,987 | $2,408 | $2,860 |
| 6% | $2,098 | $2,508 | $2,953 |
| 6.5% | $2,212 | $2,610 | $3,049 |
| 7% | $2,329 | $2,714 | $3,146 |
| 7.5% | $2,447 | $2,820 | $3,245 |
| 8% | $2,568 | $2,928 | $3,345 |
Monthly principal and interest only.
Total interest on a $350,000 mortgage
| Rate | 30 years | 15 years |
|---|---|---|
| 5% | $326,395 | $148,200 |
| 5.5% | $365,414 | $164,763 |
| 6% | $405,434 | $181,630 |
| 6.5% | $446,406 | $198,798 |
| 7% | $488,281 | $216,262 |
| 7.5% | $531,010 | $234,018 |
| 8% | $574,543 | $252,061 |
Calculate your full payment
Adjust the rate, down payment, taxes, insurance and PMI for your situation:
Frequently asked questions
What is the monthly payment on a $350,000 mortgage?
At 6.5% for 30 years, a $350,000 mortgage costs $2,212.24 a month in principal and interest. On a 15-year term at the same rate it's $3,048.88. Property tax, insurance and any PMI are extra.
How much income do I need for a $350,000 mortgage?
Using the common 28% rule and allowing about $583 a month for property tax and insurance, you'd need a household income of roughly $119,810 a year at 6.5% for 30 years.
How much interest will I pay on a $350,000 mortgage?
Over 30 years at 6.5%, total interest is about $446,406. A 15-year loan at the same rate costs about $198,798, much less, but with higher monthly payments.
Other loan amounts
All loan amounts → · How much house can I afford? →
Estimates for general information only, not financial advice. See how we calculate.