Sign up to save your podcasts
Or
Share 50 Year Mortgages - Why This is Worse for Buyers
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
50 Year Mortgages - Why This is Worse for Buyers
50 Year Mortgages - Why This is Worse for Buyers
There is Good Debt and Bad Debt, and we go over the difference. We talk about the ingenuity of the humans that have brought us great technologies, which is more prevalent where there are private property rights. We talk about the possibility of a 50 year mortgage. While most people today are buying based on the payment and not the purchase price, they are missing the big picture about how a longer mortgage is actually worse for their financial position. We discuss an easy example of a $100,000 home purchase and what it is like with a 15 year mortgage at regular interest rates vs a 30 year and 50 year with the reduced rates and lower down payment. Lengthening the term may be great for the banks, as they make more in interest, but it prevents the homeowner from building any real equity. It is also helping to push purchase prices higher, as the longer rates mean a lower payment, even if most of it is paying interest. We talk about how families used to be able to buy a home, build equity, and prepare for retirement. The longer your loan term, the less likely you are to be in a good position later. Use this information to make better decisions so you and your family can have a better future!
Sponsors:
American Gold Exchange
Our dealer for precious metals & the exclusive dealer of Real Power Family silver rounds (which we finally got in!!!). Get your first, or next bullion order from American Gold Exchange like we do. Tell them the Real Power Family sent you! Click on this link to get a FREE Starters Guide. Or Click Here to order our new Real Power Family silver rounds. 1 Troy Oz 99.99% Fine Silver
Abolish Property Taxes in Ohio:
www.AxOHTax.com
Get more information about abolishing all property taxes in Ohio.
Our Links:
www.RealPowerFamily.com
833-Be-Do-Have (833-233-6428)
View all episodes
By Brushwood Media Network50 Year Mortgages - Why This is Worse for Buyers
There is Good Debt and Bad Debt, and we go over the difference. We talk about the ingenuity of the humans that have brought us great technologies, which is more prevalent where there are private property rights. We talk about the possibility of a 50 year mortgage. While most people today are buying based on the payment and not the purchase price, they are missing the big picture about how a longer mortgage is actually worse for their financial position. We discuss an easy example of a $100,000 home purchase and what it is like with a 15 year mortgage at regular interest rates vs a 30 year and 50 year with the reduced rates and lower down payment. Lengthening the term may be great for the banks, as they make more in interest, but it prevents the homeowner from building any real equity. It is also helping to push purchase prices higher, as the longer rates mean a lower payment, even if most of it is paying interest. We talk about how families used to be able to buy a home, build equity, and prepare for retirement. The longer your loan term, the less likely you are to be in a good position later. Use this information to make better decisions so you and your family can have a better future!
Sponsors:
American Gold Exchange
Our dealer for precious metals & the exclusive dealer of Real Power Family silver rounds (which we finally got in!!!). Get your first, or next bullion order from American Gold Exchange like we do. Tell them the Real Power Family sent you! Click on this link to get a FREE Starters Guide. Or Click Here to order our new Real Power Family silver rounds. 1 Troy Oz 99.99% Fine Silver
Abolish Property Taxes in Ohio:
www.AxOHTax.com
Get more information about abolishing all property taxes in Ohio.
Our Links:
www.RealPowerFamily.com
833-Be-Do-Have (833-233-6428)