For a $400,000 home with $60,000 down (15%), you borrow $340,000. Your all-in housing payment is about $2,866.90 per month, of which $2,205.23 goes to the bank. Because your down payment is under 20%, you also pay $170.00/month of PMI until you reach 20% equity. Over 30 years, interest alone totals $453,884.