The 50-Year Mortgage
Benefits of a 50-Year Mortgage
In 2006 we saw the introduction of the 50-year mortgage. Some homeowners were excited others were not. The 50-year mortgage allows the homeowner to lower their monthly payment compared to a traditional 30-year mortgage. You are paying both principal and interest on a monthly basis. Sometimes the payments are around the same as an Interest Only payments which is a huge benefit. Below are some different lengths in mortgage terms:
10-Year Mortgage
15-Year Mortgage
20-Year Mortgage
30-Year Mortgage
50-Year Mortgage
Adjustable rate mortgages (mortgages that have a fixed term and then adjust) are usually 30-year mortgages that have a fixed rate for 2, 3, 5, 7 or 10-years. There are some mortgage programs that base their adjustable rate programs on 40 or 50 year mortgages.
Kevin O’Connor
Mortgage Consultant
www.koloans.com
800.550.5538
Contact Us
JB Mortgage Capital, Inc. - 11901 Santa Monica Blvd. #319 - Los Angeles, CA 90025
Office Phone: 1.800.550.5538 Fax: 1.310.694.8188
jb mortgage capital, inc. (formerly priority one lending, inc.), is a mortgage broker licensed by the state of california department of real estate #1836772, NMLS #247447.
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