Even though you pay a lot of interest up from, you are slowly dwindling your overall debt down. This process is known as building equity. Even if you sell your house North Fl before the loan is fully paid, you only have to pay off the unpaid principle balance. This payment would be the difference between the sales price and the unpaid principle this is your equity. To expedite your equity building and save money on interest payments, you may opt to choose a loan with faster repayment schedules, such as a 15-year loan or pay extra each month.