What is the monthly payment on a $250,000 mortgage at 6% for 30 years?
Answer
$1,499/month
Principal & interest onlyTotal interest over 30 years: $289,595Total cost: $539,595
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$250,000, r=6%/12=0.5000n=360. M = $1,499
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Calculated using verified formulas. Last updated March 2026.