How would a 50-year mortgage work?
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How would a 50-year mortgage work?
The Trump administration is moving forward with a plan to introduce a 50-year fixed-rate mortgage, a reform officials believe could make homeownership more feasible for millions of Americans amid soaring prices and mounting affordability concerns. “Thanks to President Trump, we are indeed working on The 50-year Mortgage – a complete game ...
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$250 saves $99,750 and takes off 108 months or $295 would take off $110k and 120 months off your loan life. Thats a lot of months. my spreadsheet is available in my bio if you want it. #mortgagespreadsheet #savingmoney #mortgagetips #mortgagetok #mortgagecalculator
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Late last week, Donald Trump posted a graphic comparing the familiar 30-year mortgage to a proposed 50-year term, implying that longer amortization might be the next landmark housing reform. Shortly thereafter, Bill Pulte, Director of the Federal Housing Finance Agency, confirmed via social media that “we are indeed working on The 50-year Mortgage, a complete game-changer.” (housingwire.com) The backdrop: soaring home prices, persistently elevated interest rates and sagging affordability have pu
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Sure the 100 year mortgage isn’t a real thing (yet) but what is real is the way predatory lending works to communicate with people who don’t have financial literacy and are in need of a reduction in cost of living. Trying to make generational debt happen is wild. 😭 In this video I used 30 year mortgage loan for a $500,000 house. Interest rate: 7.10% Payment: $3,360/month If we extend to 100 years (1,200 months) at 7.10%, the monthly payment becomes: $2,960 per month 🫠 In other words: A 100-yea
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