text: Yes, your broker is right.  However, if you will pay just an extra 50 bucks a month, you will DRASTICALLY lower your principal balance, saving literally thousands of dollars over the life of the loan if you keep it more than a couple of years.  Another great way to lower your principal is to split your monthly mortgage payment into 4 WEEKLY payments, this will attack your principal balance quickly.  You will want to make sure your lender will accept this type of payment (although they sure won't LIKE it, due to loss of interest on their part).\n\nIt is up to you what type of loan you get.  Ask questions to prospective lenders.  You shouldn't have to pay interest that hasn't accrued (what you would pay if you went through the entire life of the loan). If that is what they are proposing...LOOK INTO OTHER LENDERS..this is not standard practice.  \n\nHomes will normally gain value over time, if kept well.  You may not come out ahead a lot over just a few years, but you should have some equity (value) built up.\n\nGood luck....ask questions...no question is dumb.