The problem is the five year part for the $500K mortgage. Even assuming a 1% interest rate it still works out to over 8500 dollars a month. $215 is higher than my salary but not by all that much and there is no way I could come up with that amount of money on a monthly basis.
As mentioned by another poster, it's probably amortized over 30 years with a ballon payment due at the end of 5 yrs.