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re: Trump promoting a 50 year mortgage. Dave Ramsey will lose his mind. Terrible idea - imo
Posted on 11/8/25 at 8:00 pm to Fuzzy Dunlop
Posted on 11/8/25 at 8:00 pm to Fuzzy Dunlop
quote:
What's the point of getting into a home for 10-15 years if you're only paying interest the whole time and not building any equity?
It will still appreciate in that 10-15. The question is, will it appreciate more than the interest & insurance you paid.
1
Posted on 11/8/25 at 8:08 pm to deltaland
quote:
Paid for our house with cash 4 years ago
IMO, With interest rates as low as they were 4 years ago, that’s not really a flex. To me it’s fiscally retarded.
Posted on 11/8/25 at 8:11 pm to SippyCup
quote:
It will still appreciate in that 10-15.
This is not guaranteed
And you're out your down payment and maintenance costs over that time, while likely paying more than rent.
Posted on 11/8/25 at 8:14 pm to MajorityWhip
quote:
The replies are so typical. Just because there is a 50 year option doesn’t mean you have to use it. I mean, only poors have mortgages anyways.
30 year car loans
30 year boat loans
It isn’t crazy to offer a 50 year option on an asset that will most likely appreciate.
What an absolutely, horribly short-sighted take.
50-year loans, especially bouncing from one to another to another, is setting consumers up to get used to being a permanent borrower class. This is the same fiscal sense that says leasing cars is a good idea (hint: it's not if you actually do the math).
The average age of a first-time home buyer is 38.
The lower the loan time period, the higher the note.
The crossover point for a 50yr mortgage would be 40 years.
The average retirement age in the US is 62.
The average for income drop upon retirement is 31%.
So somehow it's a good idea for people to have a mortgage for so long that they don't even pay off the interest until well over a decade after their income has dropped due to retiring? Or are you saying people should delay retiring until they get near 80?
You mentioned appreciation, but that's going to depend on equity. For a 50yr loan, you're only accruing around 5% equity after 10 years. At that point, your "appreciation" is only nickels and dimes. For comparison, with a 30yr mortgage you have ~22% equity in 10 years.
Math disagrees with your entire stance.
This post was edited on 11/8/25 at 8:17 pm
Posted on 11/8/25 at 8:16 pm to Bard
If someone chooses to do that for whatever reason, why do you care? Complaining just for the sake of it
Posted on 11/8/25 at 8:16 pm to Bard
quote:
50-year loans, especially bouncing from one to another to another, is setting consumers up to get used to being a permanent borrower class
So just like a 30yr fix
Posted on 11/8/25 at 8:24 pm to SDVTiger
quote:
So just like a 30yr fix
The 30yr is not even close to that. 30yr mortgages can be paid off before retirement (or shortly thereafter), meaning as appreciation continues you're getting 100% of it (not offsetting any of it with only partial equity).
With a 50yr, the vast majority of borrowers would never see their mortgage paid off. That's a massive swap for homes to go from being generational wealth to some level of generational debt.
This post was edited on 11/8/25 at 8:25 pm
Posted on 11/8/25 at 8:26 pm to Bard
quote:
The 30yr is not even close to that
No its exactly that. The 30yr is the biggest scam the banks ever created
Havent you ever seen an amortization schedule of one
quote:
With a 50yr, the vast majority of borrowers would never see their mortgage paid off.
Same as a 30yr
Posted on 11/8/25 at 8:28 pm to SDVTiger
quote:
Serious question: would you suck Trump’s dick if he asked you to?
quote:Deflection noted.
Why do all of you weirdos think about thag all the time
Its suspect
Please explain what your issue is with it
But at least be coherent
Posted on 11/8/25 at 8:30 pm to northshorebamaman
Another wierdo who thinks about that
And as predicted he ran and wouldnt answer
Shocking
And as predicted he ran and wouldnt answer
Shocking
Posted on 11/8/25 at 8:33 pm to SDVTiger
quote:
Same as a 30yr
Not at all. 40%-50% of 30yrs get paid off. 80%-85% of 15yrs get paid off. Extrapolating that to a 50yr mortgage would likely be something like 15% of 50yrs ever being paid off (and I think that would be on the high side).
Posted on 11/8/25 at 8:34 pm to Bard
He's dug in making shite up to defend Trump. There is no point in using actual data or arguments.
Posted on 11/8/25 at 8:34 pm to Bard
quote:
Not at all. 40%-50% of 30yrs get paid off
Lol no they dont
Posted on 11/8/25 at 8:35 pm to SlowFlowPro
quote:
He's dug in making shite up to defend Trump
What have I made up?
Posted on 11/8/25 at 8:41 pm to SlowFlowPro
Again, if you think a 50 year mortgage is a poor financial decision then don’t take one. How hard is that to understand? I wouldn’t get a 72 month loan on a Nissan Altima but people do and if it’s all they can afford why do you care? Oh yeah because Trump suggested it
Posted on 11/8/25 at 8:45 pm to Rip Torn
quote:
Again, if you think a 50 year mortgage is a poor financial decision then don’t take one.
I'm not saying they should be illegal
Creating a government policy to promote selling these pieces of shite mortgages is terrible.
Posted on 11/8/25 at 8:47 pm to SlowFlowPro
No, renting is a terrible idea. Owning a home, even under a 50 year note is a great idea if it’s all you can afford
Posted on 11/8/25 at 8:48 pm to Bard
None of what you posted shows they used a 30yr fix to pay off their home
Just that 40% dont owe anything
You just made that up
97% of your links dont even work
Just that 40% dont owe anything
You just made that up
97% of your links dont even work
This post was edited on 11/8/25 at 8:50 pm
Posted on 11/8/25 at 8:48 pm to Rip Torn
quote:
No, renting is a terrible idea. Owning a home, even under a 50 year note is a great idea if it’s all you can afford
Jesus Christ
How old are you?
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