A $1,000,000 mortgage at 5.5% annual interest rate over 20 years requires a monthly payment of $6,878.87.
Over the life of the loan, you will pay a total of $1,650,929.54, of which $650,929.54 is interest — 39.4% 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.