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A 30-year mortgage at 7% on a $400,000 loan costs ~$2,661/month. Over 30 years, you'll pay $557,960 in interest — more than the original loan.

Choosing a 15-year term instead of 30 years roughly doubles your monthly payment but cuts total interest by 50–60%.

A 1% lower interest rate on a $400K loan saves ~$250/month and about $90,000 over 30 years. Shopping rates pays off.

In the early years, most of your payment goes to interest. By year 15, about half your payment reduces principal.