|
50 Year Mortgage
According to a May 2006 article from the USA Today smaller lenders in the United States have started offering a 50 Year Mortgage. As of late the 30 year mortgage was the longest financing term you could elect for purchasing a home. The 50 year mortgage apparently has surfaced recently due to record high home prices along with the recent rise in interest rates.
The 50 year mortgage will lower your monthly payment slightly however it will almost take twice as long to develop any sort of significant equity in your home. Before refinancing with a 50 year mortgage it is very important to research all your options and to discuss them with a trusted mortgage broker and financial advisor.
- Refinancing Mortgage Info, 5/31/06
If you are a mortgage company or broker, please submit your information to be included in our listings.
| 
