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How much would I pay on a $600,000 mortgage?

Calculate repayments, total interest and amortization on a $600k mortgage and 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. 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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Monthly payments on a $600,000 mortgage

At a 7.00% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $3,992 a month, while a 15-year might cost $5,393 a month.

See your monthly payments by interest rate.

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

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
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Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
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Veterans United
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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.
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Your total interest on a $600,000 mortgage

On a 30-year mortgage with a 7.00% fixed interest rate, you’ll pay $837,053 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 $370,735 in interest over the life of your loan — or about half of the interest you’d pay on a 30-year mortgage.
The average home loan interest rate.

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 $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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