A $1,000,000 mortgage at 5.0% annual interest rate over 20 years requires a monthly payment of $6,599.56.
Over the life of the loan, you will pay a total of $1,583,893.77, of which $583,893.77 is interest — 36.9% 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.