What would the 50 year amortization mean
✅ the principal you borrowed
✅ all interest paid over the years
❌ It does NOT include taxes, insurance, or HOA unless noted.
Because longer terms spread payments out more slowly, they lower the monthly payment but massively increase total interest paid.
Below is a simple example to show how total payments change by loan term.
✅ Example: $300,000 loan at 6% interest
15-Year Mortgage
Monthly payment: ≈ $2,531
Total paid: ≈ $455,682
Total interest: ≈ $155,682
30-Year Mortgage
Monthly payment: ≈ $1,799
Total paid: ≈ $647,514
Total interest: ≈ $347,514
40-Year Mortgage
Monthly payment: ≈ $1,650…
The skinny
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