A $1,000,000 mortgage at 5.5% annual interest rate over 15 years requires a monthly payment of $8,170.83.
Over the life of the loan, you will pay a total of $1,470,750.22, of which $470,750.22 is interest — 32.0% 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.