A $400,000 mortgage at 5.5% annual interest rate over 20 years requires a monthly payment of $2,751.55.
Over the life of the loan, you will pay a total of $660,371.82, of which $260,371.82 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.