Question 1

What is the monthly mortgage payment at 4.5% on a $300,000 home?

Accepted Answer

At a 4.5% fixed rate with 20% down, the monthly principal and interest on a $300,000 home is $1,216. Total interest over 30 years: $197,776.

Question 2

How does a 4.5% mortgage rate compare to other rates?

Accepted Answer

On a $300,000 home with 20% down, each 1% increase in rate adds roughly $147/month to the P&I payment. At 3.5%, the monthly payment drops to $1,078.

Down Payment	Loan Amount	Monthly P&I	Total Interest
5% ($15,000)	$285,000	$1,444	$234,859
10% ($30,000)	$270,000	$1,368	$222,498
20% ($60,000)	$240,000	$1,216	$197,776
25% ($75,000)	$225,000	$1,140	$185,415
30% ($90,000)	$210,000	$1,064	$173,054

Term	Rate	Monthly P&I	Total Interest
30-Year Fixed	4.5%	$1,216	$197,776
15-Year Fixed	4.1%	$1,792	$82,584

Mortgage Payment at 4.5% on a $300,000 Home

30-Year Fixed at 4.5%