A home loan is a big responsibility for most people, but it can also be an opportunity to grow and expand. For example, if you are considering buying that new car or going out with your friends more often because of the newfound wealth due to owning your house outright- don't! Use this money wisely by investing in index funds which have outperformed nearly every other type of investment over time. A lot goes into making one's way through life as a homeowner: from paying off taxes on property value increases each year; having enough income left after mortgage payments in order to cover living expenses such as food/utilities/etc.; maintaining constant vigilance against outside forces threatening financial stability (i.e., natural disasters). With all these considerations at When you purchase a home, there is always the looming question of how much it will cost. One way to estimate this number before your loan closes is by calculating what percentage of money that has been borrowed so far and multiplying it by the total dollar amount owed on your mortgage. The current balance left on my house can be calculated in two ways: 1) The remaining debt (or outstanding principal). 2) How long I have until my deadline for repayment (in years or months depending on which type we are using).