3% APR Mortgage Payment Calculator
Is 3% a good rate for a mortgage? Current rates for the past week are about 7.29%. To see if you have a low interest rate, it's best to compare it against market averages.
Type your loan details into the calculator above. Use the
amortization calculator to create a printable amortization schedule.
Get several loan quotes to get the best rate. A small change in APR can lead to a large different in loan costs. For example, the monthly payment for a 200k loan at 3% is 843.21/month. At 4% the payment is 954.83/month. See the table below for a comparison.
| Rate (30 Year Fixed Mortgage) |
100,000 |
200,000 |
300,000 |
400,000 |
500,000 |
600,000 |
| 3% |
421.60 |
843.21 |
1,264.81 |
1,686.42 |
2,108.02 |
2,529.62 |
| 3.25% |
435.21 |
870.41 |
1,305.62 |
1,740.83 |
2,176.03 |
2,611.24 |
| 3.5% |
449.04 |
898.09 |
1,347.13 |
1,796.18 |
2,245.22 |
2,694.27 |
| 3.75% |
463.12 |
926.23 |
1,389.35 |
1,852.46 |
2,315.58 |
2,778.69 |
| 4% |
477.42 |
954.83 |
1,432.25 |
1,909.66 |
2,387.08 |
2,864.49 |
Consider all the other fees associated with home ownership. This can include closing costs, maintenance, HOA fees for condos, property taxes, and home insurance. Mortgages with lower down payments might require private mortgage insurance (PMI).
A fixed rate mortgage offers the benefit of a fixed rate for the length of the loan. Rates are generally higher for fixed rate mortgages compared to ARMs (adjustable rate mortgages). Consider refinancing if your rate is higher than current market rates. See below for smaller changes in rates.
| Rate (30 Year Fixed Mortgage) |
100,000 |
200,000 |
300,000 |
400,000 |
500,000 |
600,000 |
|
3%
|
421.60 |
843.21 |
1,264.81 |
1,686.42 |
2,108.02 |
2,529.62 |
|
3.01%
|
422.14 |
844.29 |
1,266.43 |
1,688.57 |
2,110.72 |
2,532.86 |
|
3.02%
|
422.68 |
845.37 |
1,268.05 |
1,690.73 |
2,113.42 |
2,536.10 |
|
3.03%
|
423.22 |
846.45 |
1,269.67 |
1,692.89 |
2,116.12 |
2,539.34 |
|
3.04%
|
423.76 |
847.53 |
1,271.29 |
1,695.06 |
2,118.82 |
2,542.59 |
|
3.05%
|
424.31 |
848.61 |
1,272.92 |
1,697.22 |
2,121.53 |
2,545.83 |
|
3.06%
|
424.85 |
849.69 |
1,274.54 |
1,699.39 |
2,124.23 |
2,549.08 |
|
3.07%
|
425.39 |
850.78 |
1,276.17 |
1,701.55 |
2,126.94 |
2,552.33 |
|
3.08%
|
425.93 |
851.86 |
1,277.79 |
1,703.72 |
2,129.65 |
2,555.59 |
|
3.09%
|
426.47 |
852.95 |
1,279.42 |
1,705.89 |
2,132.37 |
2,558.84 |
|
3.1%
|
427.02 |
854.03 |
1,281.05 |
1,708.07 |
2,135.08 |
2,562.10 |