$250,000 mortgage at 5% for 15 years

$1,976.98/mo

Principal & interest · total interest $105,857 · total paid $355,857

Amortization schedule

Year	Principal	Interest	Total interest	Balance
1	$11,485	$12,239	$12,239	$238,515
2	$12,072	$11,652	$23,891	$226,443
3	$12,690	$11,034	$34,925	$213,753
4	$13,339	$10,385	$45,309	$200,414
5	$14,022	$9,702	$55,012	$186,393
6	$14,739	$8,985	$63,997	$171,654
7	$15,493	$8,231	$72,228	$156,161
8	$16,286	$7,438	$79,666	$139,875
9	$17,119	$6,605	$86,271	$122,756
10	$17,995	$5,729	$92,000	$104,762
11	$18,915	$4,809	$96,808	$85,846
12	$19,883	$3,841	$100,649	$65,963
13	$20,900	$2,824	$103,473	$45,063
14	$21,970	$1,754	$105,227	$23,094
15	$23,094	$630	$105,857	$0

What is the payment on a $250,000 mortgage at 5% for 15 years?

$1,976.98 per month (principal and interest). Total interest over 15 years: $105,857.