EDIT: I ran it through an amortization calculator. If it’s not too late I would tell him to not take that house deal. You split $40K in principal paid just to repay $140Kish in interest again. not worth it. Amortization Calculator | BankrateShytty deal. You get 20k out of the house and extend your mortgage 8+ years? Those are the worst years of interest. Probably cost him $150k in future interest.