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

Repayments, total interest and amortization to borrow with confidence.

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If you’re ready to buy a home, you might wonder how to budget for your target home cost. Here’s a breakdown of what you might face monthly, in interest and over the life of a $100,000 mortgage.

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How to use this mortgage repayment calculator

  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. Click Calculate.
  5. Review your results.

Monthly payments on a $100,000 mortgage

At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $477.42 a month, while a 15-year might cost $739.69 a month. Other costs and fees related to your mortgage may increase this number.

$100,000 mortgage monthly payments by interest rate.

Compare mortgage lenders that offer $100,000 mortgages

Name Product Min. credit score State availability Loans offered
New American Funding
620
Not available in: HI, NY
Conventional , Refinance, Jumbo, HELOC, FHA, VA, USDA, Reverse
Loan officers work with you to find the right mortgage to fit your lifestyle and budget.
Axos Bank
620
Available in all states
Conventional, Refinance, Jumbo, Home Equity, Fixed, Adjustable, FHA, VA, USDA
Explore a full suite of home loan options with this direct online lender.
Figure Refinance
600
AK, AL, AZ, CA, DE, FL, GA, IA, ID, IN, KS, KY, LA, MA, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, PA, SD, TN, WA, WI, WV
Refinance
Apply in minutes for a cash-out refinance quote that won't hurt your credit.
Credible
620
Not available in: AZ, HI, MO, NV, NY, RI, UT, WA, WV
Conventional, Refinance, Jumbo
Prequalify in minutes and then compare home loan options from several top online lenders.
LendingTree
620
Available in all states
Conventional, Refinance, Home Equity, HELOC, Jumbo, Reverse, FHA, VA, USDA
Connect with vetted home loan lenders quickly through this online marketplace.
LoanDepot
620
Available in all states
Conventional, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA
A nontraditional lender offering impartial guidance on a range of loans.
Rocket Mortgage
620
Available in all states
Conventional, Refinance, Jumbo, FHA, VA, USDA
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

Your total interest on a $100,000 mortgage

On a 30-year mortgage with a 4% fixed interest rate, you’ll pay $71,869.51 in interest over the life of your loan. That’s about two-thirds of what you borrowed in interest.

If you instead opt for a 15-year mortgage, you’ll pay $33,143.83 in interest over the life of your loan — or about half of the interest you’d pay on a 30-year mortgage.

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 balance.

Estimate your monthly loan repayments on a $100,000 mortgage at 4% fixed interest with our amortization schedule over 15 and 30 years.

YearBeginning balanceMonthly paymentTotal interest paidTotal principal paidTotal payed throught the yearRemaining balance
1$100,000.00$739.69$3,909.61$4,966.67$8,876.28‬$95,033.35
2$95,033.35$739.69$3,707.25$5,169.03$8,876.28‬$89,864.34
3$89,864.34$739.69$3,496.65$5,379.63$8,876.28‬$84,484.75
4$84,484.75$739.69$3,277.51$5,598.77$8,876.28‬$78,885.98
5$78,885.98$739.69$3,049.37$5,826.91$8,876.28‬$73,059.11
6$73,059.11$739.69$2,811.99$6,064.29$8,876.28‬$66,994.84
7$66,994.84$739.69$2,564.92$6,311.36$8,876.28‬$60,683.50
8$60,683.50$739.69$2,307.79$6,568.49$8,876.28‬$54,115.03
9$54,115.03$739.69$2,040.17$6,836.11$8,876.28‬$47,278.96
10$47,278.96$739.69$1,761.68$7,114.60$8,876.28‬$40,164.37
11$40,164.37$8,876.28‬$1,471.79$7,404.49$8,876.28‬$32,759.92
12$32,759.92$739.69$1,170.13$7,706.15$8,876.28‬$25,053.80
13$25,053.80$739.69$856.18$8,020.10$8,876.28‬$17,033.72
14$17,033.72$739.69$529.43$8,346.85$8,876.28‬$8,686.89
15$8,686.89$739.69$189.38$8,686.90$8,876.28‬$0.00
YearBeginning balanceMonthly paymentTotal interest paidTotal principal paidTotal payed throught the yearRemaining balance
1$100,000.00$477.42$3,967.95$1,761.09$5,729.04$98,238.96
2$98,238.96$477.42$3,896.19$1,832.85$5,729.04‬$96,406.18
3$96,406.18$477.42$3,821.53$1,907.51$5,729.04‬$94,498.73
4$94,498.73$477.42$3,743.82$1,985.22$5,729.04‬$92,513.56
5$92,513.56$477.42$3,662.94$2,066.10$5,729.04‬$90,447.51
6$90,447.51$477.42$3,578.77$2,150.27$5,729.04‬$88,297.29
7$88,297.29$477.42$3,491.15$2,237.89$5,729.04‬$86,059.47
8$86,059.47$477.42$3,399.97$2,329.07$5,729.04‬$83,730.48
9$83,730.48$477.42$3,305.09$2,423.95$5,729.04‬$81,306.59
10$81,306.59$477.42$3,206.35$2,522.69$5,729.04‬$78,783.96
11$78,783.96$477.42$3,103.56$2,625.48$5,729.04‬$76,158.55
12$76,158.55$477.42$2,996.62$2,732.42$5,729.04‬$73,426.17
13$73,426.17$477.42$2,885.29$2,843.75$5,729.04‬$70,582.48
14$70,582.48$477.42$2,769.43$2,959.61$5,729.04‬$67,622.93
15$67,622.93$477.42$2,648.85$3,080.19$5,729.04‬$64,542.80
16$64,542.80$477.42$2,523.36$3,205.68$5,729.04‬$61,337.18
17$61,337.18$477.42$2,392.76$3,336.28$5,729.04‬$58,000.96
18$58,000.96$477.42$2,256.84$3,472.20$5,729.04‬$54,528.82
19$54,528.82$477.42$2,115.38$3,613.66$5,729.04‬$50,915.22
20$50,915.22$477.42$1,968.16$3,760.88$5,729.04‬$47,154.39
21$47,154.39$477.42$1,814.93$3,914.11$5,729.04‬$43,240.34
22$43,240.34$477.42$1,655.46$4,073.58$5,729.04‬$39,166.83
23$39,166.83$477.42$1,489.52$4,239.52$5,729.04‬$34,927.36
24$34,927.36$477.42$1,316.79$4,412.25$5,729.04‬$30,515.16
25$30,515.16$477.42$1,137.01$4,592.03$5,729.04‬$25,923.21
26$25,923.21$477.42$949.95$4,779.09$5,729.04‬$21,144.17
27$21,144.17$477.42$755.23$4,973.81$5,729.04‬$16,170.42
28$16,170.42$477.42$552.61$5,176.43$5,729.04‬$10,994.04
29$10,994.04$477.42$341.70$5,387.34$5,729.04‬$5,606.76
30$5,606.76$477.42$122.23$5,606.81$5,729.04‬$0.00

Will I need a down payment?

It depends on the type of loan.

VA loan

Backed by the Department of Veteran Affairs (VA), VA loans don’t require a down payment. To qualify for a VA loan, you or your spouse must have served 90 to 181 days in active service, or over six years in the Reserves or National Guard. The VA also extends loans to borrowers with a family member who died in the line of duty.

Conventional loan

Lenders typically require a down payment of at least 20%. So, for a $100,000 mortgage, you’d need a down payment of $20,000 – excluding closing costs and taxes. Some conventional lenders will accept down payments as low as 3%, but you’ll most likely need to purchase private mortgage insurance (PMI) to secure the loan.

FHA loans

Insured by the Federal Housing Administration, these loans require a down payment of at least 3.5%. For a $100,000 mortgage, that means you’ll cough up $3,500. The down payment aside, you’ll pay an upfront mortgage insurance premium, and then continue to make monthly payments until you build 20% equity in your home.

USDA loans

Another type of government loan, USDA loans are backed by the US Department of Agriculture. They don’t demand a down payment, but you’ll need to carry private mortgage insurance (PMI) until you’ve built up 20% equity in your home.

Can I afford a $100,000 mortgage?

Ideally, you want to make sure your mortgage payment doesn’t exceed 28% to 30% of your monthly household income. To comfortably afford a $100,000 mortgage, you’ll need to make the minimum monthly incomes outlined below based on your down payment.

Down payment (% – amount)15-year mortgage monthly household income30-year mortgage monthly household income
0% – $0$2,511$1,668
3% – $3,000$2,436$1,668
5% – $5,000$2,386$1,618
7% – $7,000$2,335$1,585
10% – $10,000$2,260$1,551
15% – $15,000$2,135$1,501
20% – $20,000$2,009$1,418
25% – $25,000$1,883$1,251
30% – $30,000$1,758$1,168

Additional fees to consider

Buying a home is an investment. Along with the down payment and mortgage insurance (if applicable), you’ll need to pay a range of closing costs, fees and taxes. They vary between lenders, states and property types, but they can add up to thousands of dollars. Be sure to factor these into your budget.

For buyers

  • Closing attorney fee — if you choose to use one
  • Title search
  • Title insurance
  • Appraisal fee
  • Property inspection fee
  • Recording fee
  • Processing fee
  • Origination fee
  • Surveying fee
  • Settlement fee
  • Property tax
  • Credit report fee
  • Recording of the mortgage (deed of trust) fee
  • Homeowners insurance
  • Flood, hazard or earthquake insurance – if deemed necessary by your state
  • Mortgage insurance — if down payment is less than 20%
  • Archive and courier fee
  • Miscellaneous condo, co-op or Homeowners Association fees

For sellers

  • Broker fee
  • Closing attorney fee
  • Transfer tax – unless the property is in Alaska, Idaho, Indiana, Louisiana, Mississippi, Missouri, Montana, New Mexico, North Dakota, Oregon, Texas, Utah or Wyoming
  • Document preparation fee
  • Deed transfer fee
  • Recording fee
  • Mortgage Payoff
  • Property tax
  • Courier and wire transfer fee
  • Home warranty fees — if specified in the contract
  • Miscellaneous condo, co-op or Homeowners Association Fees

Bottom line

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

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