What is the monthly payment on a $275,000 mortgage at 5.5% for 15 years?
Answer
$2,247/month
Principal & interest onlyTotal interest over 15 years: $129,456Total cost: $404,456
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$275,000, r=5.5%/12=0.4583n=180. M = $2,247
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Calculated using verified formulas. Last updated March 2026.