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$125,000 mortgage at 8% for 15 years
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$1,194.57/mo
Principal & interest · total interest $90,022 · total paid $215,022
Estimated full monthly cost
| Principal & interest | $1,194.57 |
| Property tax (1.1% of a $156,250 home) | $143.23 |
| Home insurance (0.35%/yr) | $45.57 |
| Total (PITI, 20% down) | $1,383.37 |
Income needed at the 28% rule: about $59,287/year. Tax and insurance vary widely by location – use the mortgage calculator with your own figures.
Pay it off faster
- +$100/month (13 payments a year): paid off in 13 y 0 m, interest saved $13,896
- +$100/month: paid off in 13 y 0 m, interest saved $13,949
Same loan, other rates
Same rate, other terms
Amortization schedule
| Year | Principal | Interest | Total interest | Balance |
|---|---|---|---|---|
| 1 | $4,497 | $9,837 | $9,837 | $120,503 |
| 2 | $4,871 | $9,464 | $19,302 | $115,632 |
| 3 | $5,275 | $9,060 | $28,362 | $110,357 |
| 4 | $5,713 | $8,622 | $36,984 | $104,645 |
| 5 | $6,187 | $8,148 | $45,132 | $98,458 |
| 6 | $6,700 | $7,634 | $52,766 | $91,758 |
| 7 | $7,256 | $7,078 | $59,845 | $84,501 |
| 8 | $7,859 | $6,476 | $66,321 | $76,642 |
| 9 | $8,511 | $5,824 | $72,144 | $68,131 |
| 10 | $9,217 | $5,117 | $77,262 | $58,914 |
| 11 | $9,982 | $4,352 | $81,614 | $48,932 |
| 12 | $10,811 | $3,524 | $85,138 | $38,121 |
| 13 | $11,708 | $2,627 | $87,765 | $26,412 |
| 14 | $12,680 | $1,655 | $89,419 | $13,732 |
| 15 | $13,732 | $602 | $90,022 | $0 |
FAQ
What is the payment on a $125,000 mortgage at 8% for 15 years?
$1,194.57 per month for principal and interest; total interest over 15 years is $90,022.
What income do I need for a $125,000 mortgage at 8%?
Using the 28% front-end rule and estimated taxes and insurance (total housing cost about $1,383/month), a gross income of roughly $59,287 a year.
How much do extra payments save on a $125,000 loan at 8%?
Paying an extra $100 a month (one extra payment a year) clears it in 13 years 0 months and saves about $13,896 in interest. An extra $100 a month saves about $13,949.
Compare all rates for $125,000 over 15 years · Extra payment calculator
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