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Started By
Message
40 year mortgage gets the green light
Posted on 4/5/23 at 11:56 pm
Posted on 4/5/23 at 11:56 pm
20
Posted on 4/5/23 at 11:59 pm to I Love Bama
quote:
Bankrate.com recently compared 30- and 40-year mortgages and found on a $312,000 loan at 6.85% interest, the monthly payments were $2,044 for 30 years and $1,904 for 40 years.
Yea, totally worth it.
Posted on 4/6/23 at 12:00 am to I Love Bama
quote:
The extra 10 years also added more interest, close to $170,000 more
no thanksPosted on 4/6/23 at 12:02 am to I Love Bama
Its a 40yr for a loan modification
Posted on 4/6/23 at 12:23 am to I Love Bama
Can I get a 10 year loan on the new 2023 F250?
Posted on 4/6/23 at 6:30 am to ellunchboxo
quote:
Yea, totally worth it.
$140 invested over 30 years at an 8% average rate of return is over $200,000.
Posted on 4/6/23 at 6:39 am to joshnorris14
Can you say indentured servants.
Posted on 4/6/23 at 6:43 am to iron banks
quote:
Can you say indentured servants.
At 40 years? That could well end up being generational indentured servants.
Posted on 4/6/23 at 6:58 am to I Love Bama
Yet another abuse of millennials and Gen Z by the greedy boomers
Posted on 4/6/23 at 7:09 am to I Love Bama
They're slowly moving towards people becoming permanent renters. 99% of people will never ever pay off a loan that long and they'll also begin to reduce down-payments as well.
I hate our "elites", they need to go.
I hate our "elites", they need to go.
Posted on 4/6/23 at 7:18 am to tiggerthetooth
Banking and housing going subscription model, only without the periodic upgrades.
Posted on 4/6/23 at 7:27 am to I Love Bama
If you’re still a rentoid at this point you don’t deserve to ever live in a house
Posted on 4/6/23 at 7:29 am to joshnorris14
quote:
$140 invested over 30 years at an 8% average rate of return is over $200,000.
This doesn’t exist
Posted on 4/6/23 at 7:31 am to ellunchboxo
quote:
Bankrate.com recently compared 30- and 40-year mortgages and found on a $312,000 loan at 6.85% interest, the monthly payments were $2,044 for 30 years and $1,904 for 40 years.
that $140/mo savings coupled with a 96 month $80,000 truck loan will enable them to live the American dream....
Posted on 4/6/23 at 7:32 am to el Gaucho
quote:
This doesn’t exist
What?
The average growth in the S&P 500 over the past 30 years is 9.89%
This post was edited on 4/6/23 at 7:33 am
Posted on 4/6/23 at 7:34 am to joshnorris14
There’s no way to get 8% average over 30 years unless you can go back in time and become a boomer. The stock market doubled every year for them in the 70s and 80s
It crashes every year for us millenials
It crashes every year for us millenials
Posted on 4/6/23 at 7:42 am to I Love Bama
Hmm wonder if the investment math adds up to be better or not.
This post was edited on 4/6/23 at 7:43 am
Posted on 4/6/23 at 7:49 am to el Gaucho
quote:
There’s no way to get 8% average over 30 years unless you can go back in time and become a boomer. The stock market doubled every year for them in the 70s and 80s
The past 30 years are 1993 - 2022
Posted on 4/6/23 at 7:54 am to joshnorris14
All I’m saying is that if a boomer would’ve invested $100 into an index fund in 1960 at the start of his career he’d have 8.7 million dollars today
If a millenial invested $100 in 2005 at the start of his career, he’d have $14 now
If a millenial invested $100 in 2005 at the start of his career, he’d have $14 now
This post was edited on 4/6/23 at 7:55 am
Posted on 4/6/23 at 8:05 am to el Gaucho
For some reason, I don't think you're joking this time.
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