Smaller mortgage conditions need you to spend much less from inside the desire, even though the monthly installments is actually higher Say you have a 15-year, $200,000 mortgage at 3.5% (the same rate as above). You’d pay just $57,358 in total interest. At a 5% interest rate, you’d pay $84,686 in interest over the life of the loan. You’ll also pay-off your financial much earlier than you would with a 30-year loan. At the beginning of your loan term, the…