The total interest percentage or TIP for short discloses to you how much interest you will pay over the life of your home loan. For example, if you have a $100,000 loan and your TIP is 50 percent, that means you will pay a total of $50,000 in interest over the life of the loan, in addition to repaying the $100,000 that you borrowed. If your TIP is 100 percent, that means you will pay $100,000 in interest over the life of the loan.
