Yes, your math is off. At 3% the annual interest on a $1M loan would be $30-$40K (depending on how the interest is calculated), per year. Monthly, that would on

Yes, your math is off. At 3% the annual interest on a $1M loan would be $30-$40K (depending on how the interest is calculated), per year. Monthly, that would only be around $2500-$3500. Principal repayment be +/- $833/month.