I'm not sure which number we care about. A $1 million mortgage at 2.5% is around 4k per month, as is a $300k mortgage at 15%. One of those is less brittle than

I'm not sure which number we care about. A $1 million mortgage at 2.5% is around 4k per month, as is a $300k mortgage at 15%. One of those is less brittle than the other, though: * Down payment on a $1M home is almost the cash price of a $300k home. Saving up for a down payment is analogous to saving up for a home. * It's a lot easier to come up with $300k than $1M if I want to pay off the mortgage early and be free (and it's financially worthwhile). A $1M mortgage is a 30-year ball-and-chain. * A lot of associated costs are lower. For example, if I sell a $1M home bought on margin, I'm out $50k in realtor fees. If I sell a $300k home on margin, I'm out $15k in realtor fees. I'm not quite sure the right number to look at. Down payment doesn't seem like a bad one, though.