Who in their right mind would go into debt over 100K for a house the rest of their lives! Most people will never even pay the loan off before they die!
Quoting: Anonymous Coward 56945196 It all depends on what interest rate your loan is set on and how many months in the length the loan is set on.
Getting a loan on a longer time amount and lesser interest rate allows lesser payments set for longer time financed.
So paying extra principal payments after making each regular scheduled payment from the get go, adds up to lesser amount of time to pay it off.
You can throw in there larger sums of extra principal every time you get any larger sums of money and it shaves off more as well.
Making a down payment lowers it as well.
It all depends on credit score, interest rates on fixed loan never a fluctuating interest rate loan that can change with the change of interest rates to higher and run some time like that costing you less paid to your principal balance.
Your age when you take out the loan governs your payment options as well, the older you are the lesser time to work with the extra principal payments means the higher extra principal payments you would have to pay.
I would not buy a home that high unless I had a large down payment of at least $70-80 thousand or more. Too risky at my age.