Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

How much would I pay on a $150,000 mortgage?

Find out repayments, total interest and amortization on a $150k mortgage to borrow with confidence.

Heather Petty's headshot

By

Heather Petty

Edited by

Megan B. Shepherd

Updated

Fact checked

Good for fast decision

See rates
  • Fast service
  • More flexibility
  • Prepayment is OK
  • Complete your application online

Good for veterans

See rates
  • Focus on veterans
  • Suite of mortgage options
  • Streamlined application
  • 24/7 customer service

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. Here’s a breakdown of what you might face monthly, in interest and over the life of a $150,000 mortgage.

Monthly mortgage payment calculator

See how much you'll pay for your home
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.

or

Compare lenders
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

Monthly payments on a $150,000 mortgage

At a 7.00% fixed interest rate, your monthly mortgage payment on a 30-year $150,000 mortgage might total $998 a month, while a 15-year might cost $1,348 a month.

See your monthly payments by interest rate.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.

1 of 1
Updated regularly
Product Loan products offered State availability Min. credit score
Veterans United logo
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
See rates More info
Compare product selection
loading
Showing 1 of 1 results

Your total interest on a $150,000 mortgage

On a 30-year $150,000 mortgage with a 7.00% fixed interest rate, you may pay $209,263 in interest over the loan’s life. If you instead opt for a 15-year mortgage, you might pay around $92,684 in interest over the loan’s life — 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 loan’s life. 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 $150,000 mortgage at a 7.00% fixed interest with our amortization schedule over 15 and 30 years.

Year
Beginning balance
Monthly payment
Total interest paid
Total principal paid
Total paid throughout the year
Remaining balance
1
$150,000
$998
$10,452
$1,524
$11,975
$148,476
2
$148,476
$998
$10,342
$1,634
$11,975
$146,842
3
$146,842
$998
$10,223
$1,752
$11,975
$145,090
4
$145,090
$998
$10,097
$1,879
$11,975
$143,212
5
$143,212
$998
$9,961
$2,014
$11,975
$141,197
6
$141,197
$998
$9,815
$2,160
$11,975
$139,037
7
$139,037
$998
$9,659
$2,316
$11,975
$136,721
8
$136,721
$998
$9,492
$2,484
$11,975
$134,237
9
$134,237
$998
$9,312
$2,663
$11,975
$131,574
10
$131,574
$998
$9,120
$2,856
$11,975
$128,719
11
$128,719
$998
$8,913
$3,062
$11,975
$125,656
12
$125,656
$998
$8,692
$3,284
$11,975
$122,373
13
$122,373
$998
$8,455
$3,521
$11,975
$118,852
14
$118,852
$998
$8,200
$3,775
$11,975
$115,077
15
$115,077
$998
$7,927
$4,048
$11,975
$111,028
16
$111,028
$998
$7,634
$4,341
$11,975
$106,687
17
$106,687
$998
$7,321
$4,655
$11,975
$102,033
18
$102,033
$998
$6,984
$4,991
$11,975
$97,041
19
$97,041
$998
$6,623
$5,352
$11,975
$91,689
20
$91,689
$998
$6,236
$5,739
$11,975
$85,950
21
$85,950
$998
$5,822
$6,154
$11,975
$79,796
22
$79,796
$998
$5,377
$6,599
$11,975
$73,197
23
$73,197
$998
$4,900
$7,076
$11,975
$66,122
24
$66,122
$998
$4,388
$7,587
$11,975
$58,534
25
$58,534
$998
$3,840
$8,136
$11,975
$50,399
26
$50,399
$998
$3,252
$8,724
$11,975
$41,675
27
$41,675
$998
$2,621
$9,355
$11,975
$32,320
28
$32,320
$998
$1,945
$10,031
$11,975
$22,289
29
$22,289
$998
$1,220
$10,756
$11,975
$11,533
30
$11,533
$998
$442
$11,533
$11,975
$0
Year
Beginning balance
Monthly payment
Total interest paid
Total principal paid
Total paid throughout the year
Remaining balance
1
$150,000
$1,348
$10,314
$5,865
$16,179
$144,135
2
$144,135
$1,348
$9,890
$6,289
$16,179
$137,847
3
$137,847
$1,348
$9,436
$6,743
$16,179
$131,103
4
$131,103
$1,348
$8,948
$7,231
$16,179
$123,873
5
$123,873
$1,348
$8,425
$7,753
$16,179
$116,119
6
$116,119
$1,348
$7,865
$8,314
$16,179
$107,805
7
$107,805
$1,348
$7,264
$8,915
$16,179
$98,890
8
$98,890
$1,348
$6,619
$9,559
$16,179
$89,331
9
$89,331
$1,348
$5,928
$10,250
$16,179
$79,080
10
$79,080
$1,348
$5,187
$10,991
$16,179
$68,089
11
$68,089
$1,348
$4,393
$11,786
$16,179
$56,303
12
$56,303
$1,348
$3,541
$12,638
$16,179
$43,665
13
$43,665
$1,348
$2,627
$13,552
$16,179
$30,113
14
$30,113
$1,348
$1,648
$14,531
$16,179
$15,582
15
$15,582
$1,348
$597
$15,582
$16,179
$0

Bottom line

Buying a house is among the biggest investments you’ll make. Know how much you might pay each month on your $150,000 mortgage — including how much of your payment goes toward your interest over the principal — when shopping for a lender.

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

Megan B. Shepherd's headshot
To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.
Heather Petty's headshot
Written by

Staff writer

Heather Petty was a personal finance writer at Finder, specializing in home and personal loans. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing and analysis has been featured on MSN, Credit.com and MediaFeed, among other top media. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She earned a BA in English with a minor in journalism from the University of Nevada, Reno. See full bio

Heather's expertise
Heather has written 83 Finder guides across topics including:
  • Home loans
  • Home equity products
  • Homeowners insurance
More resources on Finder

Ask a question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

More guides on Finder

Go to site