Appreciation is the increase in value of something over the course of time.  Sound familiar?  It should, because your house is one of the few things that actually increases in value over time (in the long term). Compare this to cars, boats, or RV's...the value on these is most likely a depreciating value meaning it goes down over time.  Many people try to build equity by paying down the mortgage as fast as possible.  When compared to making minimum payments without sending in any extra money, saving, and then investing the difference, the rate of return on your money will far out pace the equity you build in your home by putting extra money into the loan.

Over the course of my loan career, I don't think I've ever reccommended that someone get a short term mortgage (less than 30 years).  Sure, you'll save a lot of interest over the course of the loan if you do that, but you'll also be buried up to your ears just trying to make the monthly payment.  And payment is what matters...

One of the most common misconceptions that I hear is that if you make a larger lump sum payment (without paying off the entire loan amount) your monthly payment will go down.  Not true!  You will still have the same exact minimum monthly payment due again the next month.  So go ahead, pay the minimum, and invest the rest...appreciation will happen regardless.