30-Year Fixed Mortgage Rate Calculator
The most popular mortgage in America. The 30-year fixed offers the lowest monthly payments and maximum predictability. Your rate and payment stay the same for the entire 30-year term, making budgeting simple.
= $80,000
Payment Breakdown
Who Should Choose a 30-Year Fixed Mortgage?
First-time buyers, those who want the lowest monthly payment, or anyone who prioritizes payment stability.
30-Year Fixed Payments by Home Price
| Home Price | Down (20%) | Monthly P&I | Total Interest | Total Cost |
|---|---|---|---|---|
| $150,000 | $30,000 | $798 | $167,411 | $287,411 |
| $200,000 | $40,000 | $1,064 | $223,214 | $383,214 |
| $250,000 | $50,000 | $1,331 | $279,018 | $479,018 |
| $300,000 | $60,000 | $1,597 | $334,821 | $574,821 |
| $350,000 | $70,000 | $1,863 | $390,625 | $670,625 |
| $400,000 | $80,000 | $2,129 | $446,428 | $766,428 |
| $450,000 | $90,000 | $2,395 | $502,232 | $862,232 |
| $500,000 | $100,000 | $2,661 | $558,036 | $958,036 |
| $600,000 | $120,000 | $3,193 | $669,643 | $1,149,643 |
| $700,000 | $140,000 | $3,726 | $781,250 | $1,341,250 |
| $750,000 | $150,000 | $3,992 | $837,053 | $1,437,053 |
| $800,000 | $160,000 | $4,258 | $892,857 | $1,532,857 |
| $900,000 | $180,000 | $4,790 | $1,004,464 | $1,724,464 |
| $1,000,000 | $200,000 | $5,322 | $1,116,071 | $1,916,071 |
$400,000 Home — 30-Year Term by Rate
| Rate | Monthly P&I | Total Interest | Total Cost |
|---|---|---|---|
| 5.5% | $1,817 | $334,093 | $654,093 |
| 6% | $1,919 | $370,682 | $690,682 |
| 6.5% | $2,023 | $408,142 | $728,142 |
| 6.75% | $2,076 | $427,185 | $747,185 |
| 7% | $2,129 | $446,428 | $766,428 |
| 7.25% | $2,183 | $465,867 | $785,867 |
| 7.5% | $2,237 | $485,495 | $805,495 |
| 8% | $2,348 | $525,297 | $845,297 |
True Cost: 30-Year Fixed Mortgage on a $400,000 Home
What to Know About 30-Year Fixed Mortgages
A 30-Year Fixed fixed-rate mortgage locks in your rate at 7% for the entire 30-year term. Your principal and interest payment never changes, making budgeting predictable.
- Lower monthly payments. A 30-year term spreads payments out, keeping monthly costs manageable.
- Interest costs matter. On $400,000, a 30-Year Fixed costs $446,428 in total interest. Shorter terms save significantly on interest.
- Rate lock timing. Lock your rate when you find a good deal — rates can change daily. Most locks last 30-60 days.
- Extra payments help. Even on a 30-year term, making one extra payment per year can shave years off your mortgage and save thousands in interest.
Frequently Asked Questions — 30-Year Fixed Mortgages
What is the current 30-Year Fixed mortgage rate?
Typical 30-Year Fixed rates are around 7%. Rates vary by lender, credit score, and market conditions. Borrowers with 740+ credit scores often qualify for rates 0.25-0.5% below average.
What is the monthly payment on a 30-Year Fixed mortgage?
On a $400,000 home with 20% down at 7%, the monthly payment is $2,129. Payments vary by home price — on a $300,000 home, it's $1,597/month.
Is a 30-Year Fixed mortgage better than a 30-year fixed?
The 30-year fixed is the most popular mortgage — it offers the lowest monthly payment and maximum flexibility. The trade-off is paying more total interest.
How much total interest do I pay on a 30-Year Fixed mortgage?
On a $400,000 home with 20% down, total interest over 30 years is $446,428 — that's 140% of the loan amount.
Can I refinance from a 30-Year Fixed to a different term?
Yes. Refinancing lets you switch terms or rates when market conditions are favorable. Common reasons include lowering your rate, shortening your term, or accessing equity.
What credit score do I need for a 30-Year Fixed mortgage?
Most lenders require 620+ for conventional 30-Year Fixed mortgages. FHA loans accept 580+. For the best 30-Year Fixed rates, aim for 740 or higher.
How do extra payments affect a 30-Year Fixed mortgage?
Extra principal payments reduce your balance faster, saving interest and shortening your term. Even $100 extra per month on a $320,000 loan can save thousands in interest and pay off years early.
Should I choose a 30-year fixed over an ARM?
A fixed-rate 30-Year Fixed gives you payment certainty — your rate never changes. ARMs offer lower initial rates but carry adjustment risk. Choose fixed if you value predictability and plan to stay long-term.