How much interest on $300K mortgage?

At 6.8% for 30 years: approximately $295K in interest. You pay nearly double the purchase price.

Is 15-year mortgage better than 30-year?

Yes — saves $150K+ in interest. Higher monthly payments but you own your home in half the time.

How to calculate total mortgage cost?

Use the Mortgage Calculator. Input loan amount, rate, and term. It shows total interest, monthly payment, and amortization.

How much does 1% rate difference matter?

On $300K over 30 years: about $60K in extra interest. Shopping for rates matters enormously.

Should I put 20% down?

Yes if possible — eliminates PMI ($280+/month) and reduces loan amount.

Private Mortgage Insurance — required under 20% down. Protects lender, costs you $100-300/month.

Pay off mortgage or invest?

At 7%+ mortgage rates, pay down debt. At 4-5% with 20+ year timeline, investing typically wins.

How early can I pay off mortgage?

Extra $200/month cuts 7-8 years off and saves $80K+. Use calculator to see your scenario.

Loading The $300K Mortgage Mistake That Cost Me $47K Extra

The $300K Mortgage Mistake That Cost Me $47K Extra

I thought I was getting a 'good deal' at 6.8% APR. Then I ran the numbers. Here's why 30-year mortgages are wealth killers and the calculator that showed me the truth.

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