This is a standard amortizing loan: you pay the same amount every month, but the split changes. Early on, most of the payment covers interest and a little principal. Over time that flips, and the balance falls faster and faster.
A $300,000 loan at 6.5% for 30 years costs $1,896 a month. Over the life of the loan you pay back about $682,600, so $382,600 of it is interest. That is why a small change in rate or term matters so much.
Real loans add costs: origination fees, insurance, taxes, and penalties for early payoff. Mortgages often bundle property tax and insurance into the monthly bill. Check the loan terms for the full picture.
Estimates only. The calculator shows principal and interest; your lender's quote includes fees and insurance.
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