How Much Does a $300K Mortgage Cost Per Month? | reAlpha Mortgage

Buying a home? That’s exciting. But let’s be real, what do you actually pay each month? That’s where things get murky.

If you’re looking at a $300,000 mortgage, you’re probably wondering: “What’s my real monthly payment going to be?” Not just the loan itself, but everything, interest, taxes, insurance, maybe even PMI.

Let’s break it all down, dollar by dollar, so there are no surprises when the first bill hits.

A $300,000 mortgage could cost anywhere from $1,800 to $2,500+ per month, depending on your rate, down payment, taxes, insurance, and loan term. We’ll help you understand where your money goes and how to make smart decisions to keep payments low.

• Understand monthly mortgage costs for a $300,000 home loan.
• Get clarity on principal, interest, taxes, and insurance (PITI).
• Learn how rates, down payments, and credit scores impact your payment.
• No VA loan required, applies to all homebuyers.
• Explore commission-free homebuying with trusted partners.

Here’s what goes into your payment:

• Principal & Interest: This is your loan amount and the interest charged.
• Taxes: Property taxes vary by location, typically 0.7% to 2.5% annually.
• Insurance: Homeowner’s insurance and (if needed) mortgage insurance.
• HOA Fees: Optional but important if buying in a managed community.

Loan Amount: $300,000 Down Payment: 5% ($15,000) Interest Rate: 6.5%Term: 30 years

A lower rate means big savings over time. Your credit score, income, and market conditions influence this.

• 30-Year Fixed: Lower monthly payments, higher total interest.
• 15-Year Fixed: Higher monthly payments, but much less interest over time.

More upfront = less to borrow. A 20% down payment helps you skip PMI (private mortgage insurance).

Find the Perfect Mortgage for Your Dream Home with reAlpha Mortgage.

Compare options, calculate payments, and get expert guidance - all in one place.

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States like New Jersey or Texas have higher taxes, which impact your escrow payment.

Usually required if your down payment is less than 20%.

• Improve your credit score before applying.
• Compare lenders to shop for lower rates.
• Opt for a longer term for smaller monthly payments (though you’ll pay more interest).
• Put more down to avoid PMI.
• Explore commission-free platforms that save you thousands upfront.

Let’s say you qualify for a 6.5% rate, but your neighbor gets 5.9%. Over 30 years, that 0.6% difference could cost or save you over $30,000.

Don’t just look at the home, understand the whole picture. It’s not about affording a house; it’s about affording the payment, long-term.

• reAlpha Mortgage — A tech-powered home loan platform that helps you unlock up to 75% of your buyer agent’s commission back. Get expert guidance, smarter loan options, and savings that matter.
• reAlpha — A smarter homebuying platform that gives you up to 75% of your buyer agent’s commission back when you bundle services.

Most lenders recommend that your monthly housing payment not exceed 28% of your gross income. That means you should earn about $90,000/year (or $7,500/month) to safely afford this mortgage.

At 6% over 30 years, your principal and interest alone would be about $1,799. Taxes, insurance, and PMI could raise it to $2,300+.

Yes. Many lenders offer 3-10% down payment options. But you'll likely need mortgage insurance (PMI).

Not necessarily. Once your loan-to-value ratio (LTV) drops below 78%, you can often request PMI cancellation.

You can refinance to secure a lower rate, reduce your payment, or shorten your loan term.

Buying a home shouldn’t empty your bank account. With reAlpha Mortgage, you could get up to 75% of your buyer agent’s commission back - that’s thousands of dollars you can use for inspections, closing costs, or fresh upgrades.

Here’s how it stacks up:

✅ 25% rebate when you use a reAlpha agent

✅ 50% rebate when you bundle with a reAlpha mortgage

✅ 75% total rebate when you add reAlpha title services

Make your move smarter. Start saving today at reAlpha Mortgage.

• All mortgage rates and estimates are for educational purposes only and may change without notice.
• Actual loan terms depend on borrower credit, income, loan type, and property details.
• NMLS ID for reAlpha Mortgage: #1743790
• This blog is not a credit offer or loan commitment.
• The rebate offer provides up to 75% of the buyer agent’s commission back when bundling eligible reAlpha services.
• Consult licensed professionals before making financial decisions.

Find the Perfect Mortgage for Your Dream Home with reAlpha Mortgage.

Compare options, calculate payments, and get expert guidance - all in one place.

Check if you qualify