It’s different because housing value tends to increase in the US, so the property can be sold off and the loan satisfied if needed. In Japan, outside of central Tokyo and a few other locations, housing value goes down not up over time.

Typical mortgage in Japan is 35 years. Those 50+ year mortgages are few and far between here - reserved for special situations.

And the banks here require a term life insurance plan paid up front to secure the mortgage too if you die before paying it off. Japan banks have zero risk tolerance.

10% penalty on top of the normal taxes due…so more like 30% is worst case