From home price to monthly payment
The loan amount is the home price minus your down payment. With 20 percent down on a price of 400,000, you borrow 320,000; at 6.5 percent over 30 years, the monthly payment is about 2,023 and the total interest over the term is more than the amount borrowed. A 15 year term raises the payment but roughly halves the interest.
The schedule shows how the balance falls year by year, so you can see how much you still owe after 5 or 10 years, which matters when you plan to sell or refinance.
What is not included
Property taxes, home insurance, mortgage insurance and fees vary by country and lender, and are not part of this payment. Add them to get your full monthly housing cost.