buying real estate

[SomethingClever]

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OK,

and at the end of that I have to repay the $200K right?

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Repay?

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I borrow $200K, pay $1200 per month for 30 years, then I have to pay the bank $200K, right?

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lmfao!

No, you're paying off the $200k with your $1,200 monthly payments!

At the end of 30 years, you will have paid like $500k including all the interest, and you will own the house outright.

Of course, this isn't how it really works. You'll live there for 5 years or so and usually sell at a profit. You pay off the rest of the loan with the sale, and keep the appreciation as profit.

As long as you live there more than 2 years, you don't have to pay taxes on this appreciation.