10-Year Fixed Mortgage Rate Calculator
The fastest path to full homeownership. A 10-year fixed mortgage offers the lowest total interest cost but comes with the highest monthly payments. Ideal for refinancing or homeowners who want to be mortgage-free quickly.
= $80,000
Monthly Payment
$3,593
Loan Amount
$320,000
Total Interest
$111,156
Total Cost
$511,156
Payment Breakdown
Down Payment$80,000 (15.7%)
Principal$320,000 (62.6%)
Total Interest$111,156 (21.7%)
Typical Rate
6.25%
fixed for full term
Monthly Payment
$3,593
on $400,000, 20% down
Total Interest
$111,156
over 10 years
Best For
Homeowners who want to pay off their mortgage…
Who Should Choose a 10-Year Fixed Mortgage?
Homeowners who want to pay off their mortgage quickly and can afford higher monthly payments.
10-Year Fixed Payments by Home Price
| Home Price | Down (20%) | Monthly P&I | Total Interest | Total Cost |
|---|---|---|---|---|
| $150,000 | $30,000 | $1,347 | $41,683 | $161,683 |
| $200,000 | $40,000 | $1,796 | $55,578 | $215,578 |
| $250,000 | $50,000 | $2,246 | $69,472 | $269,472 |
| $300,000 | $60,000 | $2,695 | $83,367 | $323,367 |
| $350,000 | $70,000 | $3,144 | $97,261 | $377,261 |
| $400,000 | $80,000 | $3,593 | $111,156 | $431,156 |
| $450,000 | $90,000 | $4,042 | $125,050 | $485,050 |
| $500,000 | $100,000 | $4,491 | $138,944 | $538,944 |
| $600,000 | $120,000 | $5,389 | $166,733 | $646,733 |
| $700,000 | $140,000 | $6,288 | $194,522 | $754,522 |
| $750,000 | $150,000 | $6,737 | $208,417 | $808,417 |
| $800,000 | $160,000 | $7,186 | $222,311 | $862,311 |
| $900,000 | $180,000 | $8,084 | $250,100 | $970,100 |
| $1,000,000 | $200,000 | $8,982 | $277,889 | $1,077,889 |
$400,000 Home — 10-Year Term by Rate
| Rate | Monthly P&I | Total Interest | Total Cost |
|---|---|---|---|
| 5.5% | $3,473 | $96,741 | $416,741 |
| 6% | $3,553 | $106,319 | $426,319 |
| 6.5% | $3,634 | $116,024 | $436,024 |
| 6.75% | $3,674 | $120,925 | $440,925 |
| 7% | $3,715 | $125,857 | $445,857 |
| 7.25% | $3,757 | $130,820 | $450,820 |
| 7.5% | $3,798 | $135,815 | $455,815 |
| 8% | $3,882 | $145,898 | $465,898 |
10-Year Fixed vs 30-Year Fixed Comparison
On a $400,000 home with 20% down:
| 10-Year Fixed | 30-Year Fixed | Difference | |
|---|---|---|---|
| Rate | 6.25% | 7% | -0.75% |
| Monthly Payment | $3,593 | $2,129 | $1,464 |
| Total Interest | $111,156 | $446,428 | $335,273 |
| Total Cost | $431,156 | $766,428 | $335,273 |
Choosing a 10-Year Fixed saves $335,273 in total interest compared to a 30-year fixed mortgage.