How to read an amortization schedule
In early years most of each payment goes to interest. As the loan matures, more goes to principal. This is why extra payments early in a loan save a disproportionate amount of interest.
What is an amortization schedule?
A table showing every payment split into principal and interest. Early payments are mostly interest; later payments are mostly principal.
How much total interest on a 30-year mortgage?
On $320k at 6.75% for 30 years: approximately $426,000 in total interest — more than the original loan.