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If you’re ready to buy a home, you might wonder how to budget for your target home cost. Use our calculator to get a breakdown of what you might pay in interest each month and over the life of a $600,000 mortgage from different lenders.
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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.
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 $600,000 mortgage at 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 | $600,000 | $3,992 | $41,807 | $6,095 | $47,902 | $593,905 |
| 2 | $593,905 | $3,992 | $41,366 | $6,535 | $47,902 | $587,370 |
| 3 | $587,370 | $3,992 | $40,894 | $7,008 | $47,902 | $580,362 |
| 4 | $580,362 | $3,992 | $40,387 | $7,515 | $47,902 | $572,847 |
| 5 | $572,847 | $3,992 | $39,844 | $8,058 | $47,902 | $564,790 |
| 6 | $564,790 | $3,992 | $39,262 | $8,640 | $47,902 | $556,149 |
| 7 | $556,149 | $3,992 | $38,637 | $9,265 | $47,902 | $546,884 |
| 8 | $546,884 | $3,992 | $37,967 | $9,935 | $47,902 | $536,950 |
| 9 | $536,950 | $3,992 | $37,249 | $10,653 | $47,902 | $526,297 |
| 10 | $526,297 | $3,992 | $36,479 | $11,423 | $47,902 | $514,874 |
| 11 | $514,874 | $3,992 | $35,653 | $12,249 | $47,902 | $502,626 |
| 12 | $502,626 | $3,992 | $34,768 | $13,134 | $47,902 | $489,492 |
| 13 | $489,492 | $3,992 | $33,818 | $14,084 | $47,902 | $475,408 |
| 14 | $475,408 | $3,992 | $32,800 | $15,102 | $47,902 | $460,307 |
| 15 | $460,307 | $3,992 | $31,708 | $16,193 | $47,902 | $444,113 |
| 16 | $444,113 | $3,992 | $30,538 | $17,364 | $47,902 | $426,749 |
| 17 | $426,749 | $3,992 | $29,283 | $18,619 | $47,902 | $408,130 |
| 18 | $408,130 | $3,992 | $27,937 | $19,965 | $47,902 | $388,165 |
| 19 | $388,165 | $3,992 | $26,493 | $21,408 | $47,902 | $366,757 |
| 20 | $366,757 | $3,992 | $24,946 | $22,956 | $47,902 | $343,800 |
| 21 | $343,800 | $3,992 | $23,286 | $24,616 | $47,902 | $319,185 |
| 22 | $319,185 | $3,992 | $21,507 | $26,395 | $47,902 | $292,790 |
| 23 | $292,790 | $3,992 | $19,599 | $28,303 | $47,902 | $264,487 |
| 24 | $264,487 | $3,992 | $17,553 | $30,349 | $47,902 | $234,138 |
| 25 | $234,138 | $3,992 | $15,359 | $32,543 | $47,902 | $201,595 |
| 26 | $201,595 | $3,992 | $13,006 | $34,896 | $47,902 | $166,699 |
| 27 | $166,699 | $3,992 | $10,484 | $37,418 | $47,902 | $129,281 |
| 28 | $129,281 | $3,992 | $7,779 | $40,123 | $47,902 | $89,158 |
| 29 | $89,158 | $3,992 | $4,878 | $43,024 | $47,902 | $46,134 |
| 30 | $46,134 | $3,992 | $1,768 | $46,134 | $47,902 | $0 |
| Year | Beginning balance | Monthly payment | Total interest paid | Total principal paid | Total paid throughout the year | Remaining balance |
|---|---|---|---|---|---|---|
| 1 | $600,000 | $5,393 | $41,257 | $23,459 | $64,716 | $576,541 |
| 2 | $576,541 | $5,393 | $39,561 | $25,155 | $64,716 | $551,387 |
| 3 | $551,387 | $5,393 | $37,743 | $26,973 | $64,716 | $524,414 |
| 4 | $524,414 | $5,393 | $35,793 | $28,923 | $64,716 | $495,491 |
| 5 | $495,491 | $5,393 | $33,702 | $31,014 | $64,716 | $464,477 |
| 6 | $464,477 | $5,393 | $31,460 | $33,256 | $64,716 | $431,221 |
| 7 | $431,221 | $5,393 | $29,056 | $35,660 | $64,716 | $395,561 |
| 8 | $395,561 | $5,393 | $26,478 | $38,238 | $64,716 | $357,324 |
| 9 | $357,324 | $5,393 | $23,714 | $41,002 | $64,716 | $316,322 |
| 10 | $316,322 | $5,393 | $20,750 | $43,966 | $64,716 | $272,356 |
| 11 | $272,356 | $5,393 | $17,571 | $47,144 | $64,716 | $225,211 |
| 12 | $225,211 | $5,393 | $14,163 | $50,552 | $64,716 | $174,659 |
| 13 | $174,659 | $5,393 | $10,509 | $54,207 | $64,716 | $120,453 |
| 14 | $120,453 | $5,393 | $6,590 | $58,125 | $64,716 | $62,327 |
| 15 | $62,327 | $5,393 | $2,388 | $62,327 | $64,716 | $0 |
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