How much would my payment be on a $100,000 mortgage?

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If you’re ready to buy a home, you might wonder how to budget for your target home cost. As of April 15, 2025 the current average interest rate for a 30-year fixed mortgage is sitting at 6.86% according to Bankrate. However, your rate also depends on your personal financial factors and credit history.

You can start by using our monthly mortgage payment calculator to see what you may pay — enter in mortgage amounts, interest rates and loan terms to see what you can realistically afford.

Your loan
Loan amount
$
Loan terms (in years)

Interest rate
%

Calculate

Fill out the form and click on “Calculate” to see your estimated monthly payment.

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You can expect to pay back $ per month

Based on your loan terms

Principal	$
Interest	$
Total Cost	$

1. Enter how much you want to borrow under Loan amount.
2. Type in your mortgage term in years (not months) under the Loan terms field.
3. Enter the loan’s interest rate if it doesn’t come with any fees under Interest rate. Note that your monthly mortgage payments will vary depending on your interest rate, taxes, PMI costs and other related fees. If you have this information available, you can enter the annual percentage rate (APR), which includes interest and fees combined.
4. Select Calculate.
5. Review your results.

Monthly payments on a $100,000 mortgage by interest rate

At a 7.00% fixed interest rate, a 30-year $100,000 mortgage may cost you around $665 per month, while a 15-year mortgage has a monthly payment of around $899.

Interest	Mortgage term	Monthly payments
5.75%	15 years	$830
5.75%	30 years	$584
6.00%	15 years	$844
6.00%	30 years	$600
6.25%	15 years	$857
6.25%	30 years	$616
6.50%	15 years	$871
6.50%	30 years	$632
6.75%	15 years	$885
6.75%	30 years	$649
7.00%	15 years	$899
7.00%	30 years	$665
7.25%	15 years	$913
7.25%	30 years	$682
7.50%	15 years	$927
7.50%	30 years	$699
7.75%	15 years	$941
7.75%	30 years	$716
8.00%	15 years	$956
8.00%	30 years	$734
8.25%	15 years	$970
8.25%	30 years	$751

Your total interest on a $100,000 mortgage

On a 30-year $100,000 mortgage, a 7.00% fixed interest rate means paying approximately $139,509 in total interest charges, and a 15-year term may cost you around $61,789. Reducing your loan term dramatically decreases how much interest you pay over the life of a $100,000 mortgage.

Interest	Mortgage term	Total interest charged
5.75%	15 years	$49,474
5.75%	30 years	$110,086
6.00%	15 years	$51,894
6.00%	30 years	$115,838
6.25%	15 years	$54,336
6.25%	30 years	$121,658
6.50%	15 years	$56,799
6.50%	30 years	$127,544
6.75%	15 years	$59,284
6.75%	30 years	$133,495
7.00%	15 years	$61,789
7.00%	30 years	$139,509
7.25%	15 years	$64,315
7.25%	30 years	$145,583
7.50%	15 years	$66,862
7.50%	30 years	$151,717
7.75%	15 years	$69,430
7.75%	30 years	$157,908
8.00%	15 years	$72,017
8.00%	30 years	$164,155
8.25%	15 years	$74,625
8.25%	30 years	$170,456

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How much do I need to make to afford a $100,000 house?

Ideally, you don’t want your mortgage payment to exceed 28% to 30% of your monthly household income.

With a 20% down payment (or $20,000) on a 30-year $100,000 mortgage, you’d need to make at least $1,418 in minimum monthly income to afford it. That means your annual household income would have to be around $17,000 to afford a $100,000 home with 20% down.

Just keep in mind that this example doesn’t include other household expenses.

Amortization schedule

When you take out a mortgage, you agree to pay the principal and interest over the life of the loan. Your interest rate is applied to your balance, and as you pay down your balance, the amount you pay in interest changes.

Amortization means that at the beginning of your loan, a big percentage of your payment is applied to interest. With each subsequent payment, you pay more toward your principal.

Estimate your monthly loan repayments on a $100,000 mortgage at 7.00% fixed interest with our amortization schedule over 15 and 30 years.

30-year loan
15-year loan

Year	Beginning balance	Monthly payment	Total interest paid	Total principal paid	Total paid throughout the year	Remaining balance
1	$100,000	$665	$6,968	$1,016	$7,984	$98,984
2	$98,984	$665	$6,894	$1,089	$7,984	$97,895
3	$97,895	$665	$6,816	$1,168	$7,984	$96,727
4	$96,727	$665	$6,731	$1,252	$7,984	$95,475
5	$95,475	$665	$6,641	$1,343	$7,984	$94,132
6	$94,132	$665	$6,544	$1,440	$7,984	$92,692
7	$92,692	$665	$6,439	$1,544	$7,984	$91,147
8	$91,147	$665	$6,328	$1,656	$7,984	$89,492
9	$89,492	$665	$6,208	$1,775	$7,984	$87,716
10	$87,716	$665	$6,080	$1,904	$7,984	$85,812
11	$85,812	$665	$5,942	$2,041	$7,984	$83,771
12	$83,771	$665	$5,795	$2,189	$7,984	$81,582
13	$81,582	$665	$5,636	$2,347	$7,984	$79,235
14	$79,235	$665	$5,467	$2,517	$7,984	$76,718
15	$76,718	$665	$5,285	$2,699	$7,984	$74,019
16	$74,019	$665	$5,090	$2,894	$7,984	$71,125
17	$71,125	$665	$4,880	$3,103	$7,984	$68,022
18	$68,022	$665	$4,656	$3,328	$7,984	$64,694
19	$64,694	$665	$4,416	$3,568	$7,984	$61,126
20	$61,126	$665	$4,158	$3,826	$7,984	$57,300
21	$57,300	$665	$3,881	$4,103	$7,984	$53,197
22	$53,197	$665	$3,584	$4,399	$7,984	$48,798
23	$48,798	$665	$3,266	$4,717	$7,984	$44,081
24	$44,081	$665	$2,925	$5,058	$7,984	$39,023
25	$39,023	$665	$2,560	$5,424	$7,984	$33,599
26	$33,599	$665	$2,168	$5,816	$7,984	$27,783
27	$27,783	$665	$1,747	$6,236	$7,984	$21,547
28	$21,547	$665	$1,296	$6,687	$7,984	$14,860
29	$14,860	$665	$813	$7,171	$7,984	$7,689
30	$7,689	$665	$295	$7,689	$7,984	$0

Year	Beginning balance	Monthly payment	Total interest paid	Total principal paid	Total paid throughout the year	Remaining balance
1	$100,000	$899	$6,876	$3,910	$10,786	$96,090
2	$96,090	$899	$6,594	$4,192	$10,786	$91,898
3	$91,898	$899	$6,290	$4,496	$10,786	$87,402
4	$87,402	$899	$5,965	$4,820	$10,786	$82,582
5	$82,582	$899	$5,617	$5,169	$10,786	$77,413
6	$77,413	$899	$5,243	$5,543	$10,786	$71,870
7	$71,870	$899	$4,843	$5,943	$10,786	$65,927
8	$65,927	$899	$4,413	$6,373	$10,786	$59,554
9	$59,554	$899	$3,952	$6,834	$10,786	$52,720
10	$52,720	$899	$3,458	$7,328	$10,786	$45,393
11	$45,393	$899	$2,929	$7,857	$10,786	$37,535
12	$37,535	$899	$2,361	$8,425	$10,786	$29,110
13	$29,110	$899	$1,751	$9,034	$10,786	$20,075
14	$20,075	$899	$1,098	$9,688	$10,786	$10,388
15	$10,388	$899	$398	$10,388	$10,786	$0

Bottom line

Purchasing a home is a big decision – both personally and financially. When you find a $100,000 property you like, make sure you can afford it by taking the down payment, mortgage insurance and monthly repayments into account.

Learn more about how home loans work in our comprehensive guide to mortgages.

Thank you for your feedback!

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Katia Iervasi

Writer

Katia Iervasi is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in insurance. Her writing and analysis on life, disability and health insurance has been featured in The Washington Post, Forbes, Yahoo, Entrepreneur, Best Company and FT Advisor. She holds a BA in communication from Australia's Griffith University. See full bio

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How much would I pay on a $100,000 mortgage?

Find out repayments, total interest and amortization on a $100k mortgage to borrow with confidence.