Black Hole Of Real Estate Podcast

Here's What No One Is Telling You About 50 Year Mortgages... Episode 243


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Here's What No One Is Telling You About 50 Year Mortgages...

...and the reasons that you may not want to dismiss the idea

There are plenty of negative ideas out there that argue against this product

And they have merit

  • 50 years is a long time
  • you may never pay it off in your lifetime
  • 20 more years of interest to pay
  • much slower equity buildup

but let's examine a few things that may change your mind

  • most people do not keep their homes 30 years
  • about 95% of payments on a 30 year mortgage goes toward interest in 1st 5 years
  • lower monthly payments help buyers qualify for the homes they really want
  • buyers can pay extra each month as their income increases over time to reduce interest
  • more money available to start a family
  • less dependency on other forms of credit

there is more than meets the eye on 50 year mortgages

listen in to hear more details to help you make the right choice

...more
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Black Hole Of Real Estate PodcastBy Ron Wysocarski