A $50,000 mortgage at 5.5% annual interest rate over 20 years requires a monthly payment of $343.94.
Over the life of the loan, you will pay a total of $82,546.48, of which $32,546.48 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.