What is the monthly payment on a $100,000 mortgage for 30 years?

Quick answer

On a $100,000 mortgage over 30 years, the monthly payment depends on the interest rate and whether you include taxes and insurance. At around 6–7% interest, principal and interest alone typically range from the high-$500s to low-$700s per month. Local property taxes, homeowners’ insurance, and possible mortgage insurance can raise the total payment by a few hundred dollars.

A good next step is to test a few interest rates and compare the all-in total payment (principal + interest + taxes + insurance + PMI) so you’re budgeting based on what you’ll actually pay each month.

What’s included in a monthly mortgage payment?

People often quote the “mortgage payment” as principal and interest, but many borrowers pay a single monthly amount that includes extra items collected through escrow. Your total monthly housing payment may include:

• Principal: the portion that reduces your loan balance
• Interest: the cost of borrowing from the lender
• Property taxes: often escrowed and can increase over time
• Homeowners insurance: premiums can vary by location and coverage
• Mortgage insurance (PMI/MIP): may apply with smaller down payments

For planning, it’s helpful to think in two layers: (1) principal + interest, then (2) add taxes/insurance/PMI to get your realistic all-in monthly cost.

Why the interest rate changes your payment so much

With a fixed-rate 30-year loan, your principal and interest payment is determined by the loan amount, the interest rate, and the term. Even on a $100,000 loan, the difference between “good” and “not-so-great” rates can move the monthly payment noticeably.

When you’re comparing scenarios, don’t just look at the payment - also check the total interest over 30 years to understand the long-run cost.

Why the “total payment” is often higher than expected

Taxes and insurance are the usual reasons a monthly payment surprises people. These costs are highly local, and they can change over time. Two borrowers with the same $100,000 loan can have very different total monthly payments if they live in areas with different tax rates or insurance costs.

• Property taxes: can rise with assessments or local rate changes
• Insurance premiums: can increase due to market pricing, claims, or coverage updates
• PMI/MIP: depends on down payment, credit, and loan program

If you’re building a budget, use estimates for taxes and insurance that match the area you’re shopping in - then give yourself a little cushion.

How extra principal payments can reduce total cost

Even on a smaller mortgage, extra principal payments can make a meaningful difference. When you pay extra toward principal (and your lender applies it correctly), you reduce the balance faster, which reduces total interest and can shorten the payoff timeline.

Common approaches include rounding up the payment, adding a set amount monthly, or making one extra payment per year. The earlier you start, the more impact it tends to have.

Estimate your payment and test scenarios

If you want a realistic number, run a few different rates and include taxes, insurance, and PMI (if applicable). Then compare the total monthly payment to your budget.