This is the amount of interest over a period of 30 years for some one with a great credit score. For example you have a 3.9 % interest rate for a $100,000 dollar home loan. Your payment is only $471.67 a month. This is showing you in detail what you would be paying. The principal is you paying off your loan the interest is what you pay the bank every month. Month / Year
Payment
Principal
Paid
Interest
Paid
Total
Interest
Balance Nov. 2012
$471.67
$146.67
$325.00
$325.00
$99,853.33 Dec. 2012
$471.67
$147.14
$324.52
$649.52
$99,706.19 Jan. 2013
$471.67
$147.62
$324.05
$973.57
$99,558.56 Feb. 2013
$471.67
$148.10
$323.57
$1,297.13
$99,410.46 Mar. 2013
$471.67
$148.58
$323.08
$1,620.22
$99,261.88 April 2013
$471.67
$149.07
$322.60
$1,942.82
$99,112.81 May 2013
$471.67
$149.55
$322.12
$2,264.94
$98,963.26 June 2013
$471.67
$150.04
$321.63
$2,586.57
$98,813.22 July 2013
$4...
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