Many young people choose to buy their own homes, rather than rent them. Most will have to take out a home mortgage in order to fulfill this dream. If they plan to buy a home in the future, they will need to think about: How much does it cost per month to pay back a home loan? How do the period of time for the loan and the rate of interest affect the payments? How much does one actually pay for the house over the period of time for the loan?