$300,000 mortgage Calculator — Monthly Payment & Total Cost (2026)
If you're planning to borrow $300,000 as a mortgage, understanding your true repayment cost is critical before signing. At current National average rates of 6.8%, a $300,000 mortgage over 360 months would cost $1,956/month with $404,079 in total interest.
Quick Calculation Snapshot
How does $300,000 compare at different rates?
| APR | Monthly payment | Total interest | Total cost |
|---|---|---|---|
| 5% | $1,610 | $279,767 | $579,767 |
| 7% | $1,996 | $418,527 | $718,527 |
| 10% | $2,633 | $647,777 | $947,777 |
| 12% | $3,086 | $810,902 | $1,110,902 |
| 15% | $3,793 | $1,065,600 | $1,365,600 |
| 18% | $4,521 | $1,327,652 | $1,627,652 |
| 24% | $6,005 | $1,861,733 | $2,161,733 |
Frequently asked questions
Is $300,000 considered a large mortgage?▼
In the US, the average mortgage is around $8,000–$12,000. A $300,000 request is typically considered large, which means lenders will usually require a stronger financial profile and a minimum credit score of at least 700 to qualify.
What is a good interest rate for a $300,000 mortgage in 2026?▼
As of 2026, a competitive rate for a $300,000 length mortgage is between 4.8% and 10.8% APR for borrowers with good credit (680+). Be sure to pre-qualify with multiple providers to secure the lower end of this range.
How long does it take to pay off $300,000?▼
At the average rate of 6.8%, a $300,000 mortgage paid on a standard360-month schedule is paid off in exactly 360 months (30 years), with a total final cost of $704,079.
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Fact-checked by Mayuresh Smita Suresh, Financial Tools Expert
Last updated March 2026 · Rates and formulas sourced from standard financial industry models equivalent to those used by national banking institutions. E-E-A-T verified tools.