A $300,000 mortgage at 5.5% annual interest rate over 20 years requires a monthly payment of $2,063.66.
Over the life of the loan, you will pay a total of $495,278.86, of which $195,278.86 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.