A $50,000 mortgage at 5.5% annual interest rate over 30 years requires a monthly payment of $283.89.
Over the life of the loan, you will pay a total of $102,202.02, of which $52,202.02 is interest — 51.1% 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.