$300,000 Mortgage at 5% for 30 Years
Monthly payment breakdown for a fixed-rate 30-year home loan.
Monthly Payment
$1,610
Principal: $300,000 · Rate: 5%
| Item | Amount |
|---|---|
| Loan Principal | $300,000 |
| Total Interest (30 years) | $279,767 |
| Total Paid | $579,767 |
Amortization Schedule (Yearly Summary)
How your payments are split between principal and interest each year.
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $4,426 | $14,899 | $295,574 |
| 2 | $4,653 | $14,673 | $290,921 |
| 3 | $4,891 | $14,435 | $286,031 |
| 4 | $5,141 | $14,185 | $280,890 |
| 5 | $5,404 | $13,922 | $275,486 |
| 6 | $5,680 | $13,645 | $269,806 |
| 7 | $5,971 | $13,355 | $263,835 |
| 8 | $6,276 | $13,049 | $257,559 |
| 9 | $6,597 | $12,728 | $250,961 |
| 10 | $6,935 | $12,391 | $244,026 |
| 30 | $18,812 | $513 | $0 |
Rate Comparison — $300K Loan
Understanding a $300K Mortgage at 5%
A $300,000 fixed-rate mortgage at 5% interest over 30 years results in a monthly payment of $1,610. Over the full loan term, you will pay $279,767 in interest — roughly 0.9× the original loan amount.
In the early years, most of your payment goes toward interest. By year 10, approximately $6,935 of your annual payments go to principal and $12,391 to interest. Over time, the balance shifts as the principal portion grows.
Frequently Asked Questions
What is the monthly payment on a $300,000 mortgage at 5%?
The monthly payment on a $300,000 mortgage at 5% interest for 30 years is $1,610. Over the life of the loan, you will pay $279,767 in interest, for a total of $579,767.
How much total interest will I pay on a $300,000 mortgage at 5%?
On a $300,000 mortgage at 5% over 30 years, you will pay $279,767 in total interest. This means you pay roughly 0.9x the original loan amount in interest alone.
How does 5% compare to other mortgage rates?
At 5% on a $300,000 30-year loan, the monthly payment is $1,610. A 0.5% rate decrease would save approximately $90/month, while a 0.5% increase would add about $93/month.
How This Is Calculated
This page uses the standard fixed-rate amortization formula to compute the monthly mortgage payment:
M = P × [r(1+r)n] / [(1+r)n − 1]
Where P = $300,000 (loan principal), r = 0.004167 (monthly interest rate = 5% ÷ 12), and n = 360 (total payments = 30 years × 12 months).
Standard amortization formula. Assumes fixed-rate loan, no PMI, taxes, or insurance.
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⚠️ Estimates only. Actual mortgage costs may include PMI, property tax, insurance, and HOA fees. Consult a lender for precise figures.