What is the monthly payment on a $150,000 mortgage at 7.5% for 30 years?
Answer
$1,049/month
Principal & interest onlyTotal interest over 30 years: $227,576Total cost: $377,576
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$150,000, r=7.5%/12=0.6250n=360. M = $1,049
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Calculated using verified formulas. Last updated March 2026.