“If you put down $100,000 as a 20% down payment and then borrow $400,000 with a 30-year fixed-rate mortgage with an interest rate of 7.09%, your monthly payment on the loan would be $2,685. That does not include your monthly property tax and homeowners insurance payments, which will vary based on your state and municipality.
You would pay a total of $567,135 in interest on this loan, for a total loan payment of $967,135. When you add in the $100,000 down payment, you would pay a total of $1,067,135 for the house.”
www.cbsnews.com/news/what-would-my-monthly-mortgage-payment-be-on-a-500000-home/
Plug in the numbers here and find out.
www.bankrate.com/mortgages/mortgage-calculator/
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