A $1,000,000 mortgage at 5.0% annual interest rate over 15 years requires a monthly payment of $7,907.94.
Over the life of the loan, you will pay a total of $1,423,428.53, of which $423,428.53 is interest — 29.7% of your total payments.
Use the calculator above to adjust the loan amount, term, or interest rate to find the mortgage that fits your budget.