Interest/Principal crossover point: Year 20
| Year | Date | Total Paid | Remaining Balance |
|---|---|---|---|
| 1 | Jul 2025 | $10,777.07 | $196,161.74 |
| 2 | Jul 2026 | $21,554.15 | $192,186.97 |
| 3 | Jul 2027 | $32,331.22 | $188,070.83 |
| 4 | Jul 2028 | $43,108.29 | $183,808.29 |
| 5 | Jul 2029 | $53,885.36 | $179,394.15 |
Total Loan Amount: $200,000.00
Down Payment: $40,000.00 (16.67%)
Interest Rate: 3.500%
Loan Term: 30 years
Monthly Payment: $898.09
Total Interest: $123,312.18
Total Cost: $323,312.18