A $500,000 mortgage at 3.5% annual interest rate over 20 years requires a monthly payment of $2,899.8.
Over the life of the loan, you will pay a total of $695,951.66, of which $195,951.66 is interest — 28.2% 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.