A $400,000 mortgage at 6.5% annual interest rate over 20 years requires a monthly payment of $2,982.29.
Over the life of the loan, you will pay a total of $715,750.21, of which $315,750.21 is interest — 44.1% 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.