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Started By
Message
re: The 50-year mortgage is a good idea actually
Posted on 11/10/25 at 8:09 pm to 904
Posted on 11/10/25 at 8:09 pm to 904
quote:
I'd much rather rent and not have to pay for repairs.
...and live in a place you want, the area you want, move when you want, the flexibility has value. The neighborhood didnt pan out? Ok, move. Something breaks, not your issue. Nicer place across town? Go get it. There are pros and cons as with anything. Renting fits for some.
0
Posted on 11/10/25 at 8:10 pm to cgrand
quote:
that would have massive arbitrage implications when the prime lending rate is higher than that. it would be fraudulent chaos
I don’t even think it would get that far. No one with a fully functional brain would want that garbage paper. The only sucker big enough to take it would be the feds.
Posted on 11/10/25 at 8:12 pm to 904
quote:
At the end of 10 years with a 50 year mortgage at 8% for a $300k house (20% down), you will have knocked all of $6k off the principle.
And you'll have the costs of getting in and out of the house including the fees to the agent when you sell. And let's be honest, no one that has 20% to put down is getting into a 50 year mortgage. These would all be FHA loans. After ten years, factoring in closing costs and fees to the agent at the time of sale, you essentially did no better than renting unless you just get lucky and the market in your area catches fire when you sell.
Posted on 11/10/25 at 8:18 pm to TheePalmetto
think of young couple,
and taking the generational farm
they'd stay for 50, and as said, refi smart, maybe even add more property at the refi
This could be very well targeted to not the 10 year change homes, but farmers relief.
"cheat the dead tax" by a young family taking on the long term commitment
like the second A. We need good solid generational family farms, not big AG
and taking the generational farm
they'd stay for 50, and as said, refi smart, maybe even add more property at the refi
This could be very well targeted to not the 10 year change homes, but farmers relief.
"cheat the dead tax" by a young family taking on the long term commitment
like the second A. We need good solid generational family farms, not big AG
Posted on 11/10/25 at 8:27 pm to dr
quote:
This could be very well targeted to not the 10 year change homes, but farmers relief.
That already exists. 40yrs for farm or ranch property is very common and you can do a 10+ non- qualified if you need to drag it out.
This post was edited on 11/10/25 at 8:33 pm
Posted on 11/10/25 at 8:32 pm to billjamin
could it be how is being structured?
maybe tax relief?
it could be used to over time buy the getto, too
add a property, at refi?
there is more to this than meets the first knee jerk reaction.
maybe tax relief?
it could be used to over time buy the getto, too
add a property, at refi?
there is more to this than meets the first knee jerk reaction.
Posted on 11/10/25 at 8:36 pm to dr
quote:
could it be how is being structured?
The only thing that would make any sense is to put a govt backstop in place to control for the risk premiums that need to be factored into 1 and elongated payback period and 2 for the types of risk profiles you’re going to have to assume fall into the portfolio.
Remember that you can’t deny someone financing because of age. So all the olds who decide to do this because they’re on fixed income are really going to frick the payment performance and that has to be accounted for. Unless daddy tax payer is standing behind to catch them when they fall.
Posted on 11/10/25 at 8:40 pm to cbree88
quote:
In summary, 50-year mortgage is not as good as a 30-year mortgage but still better than renting.
If you are making payments for 50 years is there really any difference ?
Posted on 11/10/25 at 8:47 pm to Pintail
quote:
That way you can be upside down for the first 10 years of your first house.
Where would you be after 50 years of renting? Upside down, or inside out?
Posted on 11/10/25 at 8:48 pm to cbree88
With the way they are building houses these days that MFer may not last 50 years.....lol. If the option were available to me I would buy 10 more houses in the $150-$180 range and fix them up and rent them out. I currently get around $1,200-$1,400 per month on a 3-2 home. If you were to apply all of the extra income to the principle you could pay off a house financed for 50 years in 14 years and 1 month at 6%.
Edit: I did not include taxes and insurance in my calculation. 19.5 years on $150k with $250 in taxes and insurance per month.
Edit: I did not include taxes and insurance in my calculation. 19.5 years on $150k with $250 in taxes and insurance per month.
This post was edited on 11/10/25 at 8:51 pm
Posted on 11/10/25 at 8:50 pm to cbree88
It took my parents 40 years to pay off their 15 year mortgage, but that included major renovations over the course of those 40 years. 2 kitchen updates, 4 or 5 bathroom updates, new windows, etc.
With a 50 year mortgage, it will take decades to build enough equity to make a HELOC a viable option, but maybe that’s not the worst thing ever.
With a 50 year mortgage, it will take decades to build enough equity to make a HELOC a viable option, but maybe that’s not the worst thing ever.
Posted on 11/10/25 at 8:52 pm to cbree88
You partisan hacks are insane .. if Joseph R Biden has proposed a 50 yr mortgage, yall would be clutching yall’s pearls so hard and yall would have ur camouflage panties in such a bunch - the blowback would be immediate .
Posted on 11/10/25 at 8:55 pm to BK Lounge
quote:
You partisan hacks are insane
How do you know what my politics are or if I’m being partisan? Stupid post is stupid.
This is like people accusing others of racism as a first response with no evidence of it or context.
Posted on 11/10/25 at 8:56 pm to Powerman
quote:
And you'll have the costs of getting in and out of the house including the fees to the agent when you sell. And let's be honest, no one that has 20% to put down is getting into a 50 year mortgage. These would all be FHA loans. After ten years, factoring in closing costs and fees to the agent at the time of sale, you essentially did no better than renting unless you just get lucky and the market in your area catches fire when you sell.
Nobody even talking about the cost of PMI probably double what a 30 year mortgage is.
Posted on 11/10/25 at 8:58 pm to Pintail
quote:
Nobody even talking about the cost of PMI probably double what a 30 year mortgage is.
I was going to bring that up. Even if you had a 10% FHA it would take you a lot longer to hit 20% equity for the PMI to go away on a 50 year.
More money down the drain
Posted on 11/10/25 at 9:01 pm to cbree88
I am hearing mixed things. It appears that people with TDS think it's the worst thing ever but people who don't have TDS but don't really care think it's brilliant
Posted on 11/10/25 at 9:02 pm to cbree88
If you’re going to do a 50 year mortgage it should be required to be transferable to next of kin.
Posted on 11/10/25 at 9:02 pm to RobbBobb
quote:
Where would you be after 50 years of renting? Upside down, or inside out?
If I invested the 20% down in an index fund?
Let’s say I put 60k (20% down on a 300k house) in an index fund (and don’t touch it for 50 years. I’d have 7 million dollars at the annual S&P average of 10%.
If I instead invest it in a home, with a mortgage of 6 percent, I’d make monthly payments, pay insurance and taxes, and make repairs for 50 years.
Posted on 11/10/25 at 9:02 pm to billjamin
quote:
If the banks wanted it they would offer it now.
No they wouldn’t because it’s illegal for them to do that right now. A 50-year term on a mortgage makes it unqualified under the Dodd-Frank Act.
Posted on 11/10/25 at 9:03 pm to cbree88
fricking AI slop is ruining this site. Try having an original thought.
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