Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Why is there so much interest on home loans?
APR stands for "annual percentage rate." This means when you see a loan with a 6% rate, it is 6% per year.  On a $100,000 mortgage, where you aren't paying much of the principal down at first, a 6% rate would have you paying nearly $6,000 in interest in the first year alone.