@BattleDwarfGimli @Hertz @PraxisOfEvil right, that's because how compounding interest work isn't explained well to people. Time is the key.

If you have a 30 year loan and don't refinance and don't miss payments, the whole thing is pretty moot, as @TrevorGoodchild mentions. You know how much you are borrowing, you know how much interest they want, the schedule for repayment can be calculated; You pay more on interest in the beginning, less in the end; Result is same monthly payment for 30 years.

It gets very perverse when credit cards get involved, because people don't realize that it works the same way and has a STUPID rate for balances carried.