What will be your monthly payment on a $$500,00015$ and a $30$ yr mortgage if the rate is $3\mathrm{.}4\%($ using $2021$ rates$)$ vs the current rate of $6\mathrm{.}5\%-4$ calculations? $($The mortgage is $$500,000($not the price of the house$)$ you will have to adjust bank rate.com default of $20\%$ down to $0\%$ down, $500$k mortgage$)$ Also, how much interest will you pay over the life of the $4$ loans you just calculated? Why would someone finance a house with a $10$ year interest only loan $($site $3$ reasons$)?$