Trying to calculate 30 year total mortgage payment.?
Went to mortgage calculating websites and they say on a $ 154,900 house with a 6% interest rate at 30 years fixed the total paid on the house would be $ 334,332.00. This comes out to being 115.83% more than the price of the house. How and why does it work this way and is this normal? P.S monthly payment were $ 928.00 a month.