What is the monthly payment on a $250,000 mortgage at 6% over 15 years?
$2,109.64/mo
A $250,000 mortgage at 6% over 15 years costs $2,109.64 a month in principal and interest.
How it is worked out
The standard amortising payment formula. It covers principal and interest only — property tax, insurance and any HOA or service charge are separate, and together they often add a fifth again to the monthly figure.
$250,000 × i(1+i)^n ÷ ((1+i)^n − 1), with i = 6% ÷ 12 and n = 15 × 12 = $2,109.64
Over the full term you repay $379,736, of which $129,736 is interest — 52% of the amount borrowed.
Open the full mortgage calculator to use your own figures.
Similar questions
- $250,000 · 4.5% · 30 years = $1,266.71/mo
- $250,000 · 4% · 30 years = $1,193.54/mo
- $250,000 · 5% · 30 years = $1,342.05/mo
- $250,000 · 5.5% · 15 years = $2,042.71/mo
- $250,000 · 6.5% · 15 years = $2,177.77/mo
- $250,000 · 5% · 15 years = $1,976.98/mo
Questions
- What is the monthly payment on a $250,000 mortgage at 6% over 15 years?
- A $250,000 mortgage at 6% over 15 years costs $2,109.64 a month in principal and interest. $250,000 × i(1+i)^n ÷ ((1+i)^n − 1), with i = 6% ÷ 12 and n = 15 × 12 = $2,109.64.
- How is this worked out?
- The standard amortising payment formula. It covers principal and interest only — property tax, insurance and any HOA or service charge are separate, and together they often add a fifth again to the monthly figure.
- Can I use my own figures?
- Yes — the mortgage calculator takes any values and shows the full result.