Comment: I think your calculation is

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In reply to comment: HOA's/COA's. (see in situ)

I think your calculation is

I think your calculation is incorrect. $200k, 30 years, 5% interest you pay about $186k, in interest, in addition to the 200k you borrow. In the end its still a pretty bad deal, almost doubling what you pay. I would go with a 15 year loan ($85k total interest) or a 10yr if possible, it is ridiculous how much money you save in interest by shortening your loan, and its only a couple hundred a month extra.