Following is an illustration of the effect that interest rates bear on monthly payment & total interest paid over the life of the loan for a home loan of $200,000.   Rates shown in the table below are for illustration purposes only and do not represent current loan scenarios or interest rates available by Gorman & Gorman Home Loans.

  

Interest Rate	Monthly Payment	Difference	Total Interest Paid	Difference
4.250%	$984	-	$154,196	-
4.500%	$1,013	+$29	$164,813	+$10,617
4.750%	$1,043	+$31	$175,588	+$10,775
5.000%	$1,074	+$31	$186,513	+$10,925
5.250%	$1,104	+$32	$197,585	+$11,072
5.500%	$1,136	+$31	$208,806	+$11,221
5.750%	$1,167	+$33	$220,169	+$11,363
6.000%	$1,199	+$32	$231,677	+$11,508