A $500,000 mortgage at 7.0% annual interest rate over 15 years requires a monthly payment of $4,494.14.
Over the life of the loan, you will pay a total of $808,945.44, of which $308,945.44 is interest — 38.2% 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.