Taking out a $300,000 mortgage can seem overwhelming, but it’s important to know what to expect in terms of monthly payments. Depending on the length of the loan, your monthly payments can vary quite a bit. Here’s a breakdown of what your payments might look like: For a 15-year loan with an APR of 3%, you can expect to pay $2,071.74 per month. This is a shorter loan term, so the monthly payments are higher but you’ll pay less in interest overall. If you opt for a longer 30-year loan, your monthly payments will be lower but you’ll pay more in interest over time. Without the cost of escrow, you can expect to pay $1,264.81 per month. It’s important to keep in mind that escrow fees can vary based on a number of factors, including the location of your home and the insurance company you work with. Be sure to do your research and factor in any additional costs when calculating your monthly payments.