The 50 Year Home Mortgage – Is it a good or bad idea?
Table of Contents
ToggleThis is not a new idea. In fact, a 40 year mortgage was proposed 3 years ago! But is it a good idea? In todays show, I examine this idea from the perspective of buyers, sellers and invstors.
Sellers
The home mortgage that sellers care about is the one that funds at close of escrow! However, it is the odds of that loan actually getting funded that needs to be focused on. In todays show, I cover some steps your real estate professional should take to make sure that the buyers loan is going to fund on time.
Buyers
Longer loans means higher costs. If you are a very responsible buyer financially, it might be a good option for you. However, it is more likely that the best home mortgage for you is a conventional 30 year loan.
The Community
Yes, these loans can impact us all. They are federally backed which means if things go bad, these home mortgages turn into a cost covered by your tax dollars.
Check Out The Last Show!
NAR Settlement – For Buyers and Sellers
The NAR settlement, once it is approved, is set to go into effect in the middle of July 2024. This will completely change how Buyers agent are compensated and we can count on chaos while the systems adjust to the new reality.
