For our Financial Peace class today I made a quick worksheet showing what we were discussing. The usual disclaimers apply.
This spreadsheet allows you to get an idea what a mortgage would cost you, allowing you to play with such variables as interest rate, purchase price, and so forth. It also provides an alternative approach that can be used to buy the house of your dreams with cash in much less time than using a mortgage. Maths hard. Spreadsheet simple. Highly Recommend. Download this!