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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Orange Pantload proposes a 50 mortgage.
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The Orange Pantload proposes a 50 mortgage. (Original Post)
CentralMass
Tuesday
OP
ret5hd
(21,981 posts)1. someone please do an amortization sheet...
something like a 15, 30, and 50 year note on $300,000 at say 6.5%.
lets do a comparison. my bet is there isnt THAT much difference in monthly payments between a 30 and 50 year note
but a lot of difference in bank profits.
i would do it but my skills are lacking.
CentralMass
(16,722 posts)3. I was listening to Meidas Touch ths afternoon abd tge saud it was 86% interest due to the ling term. Insanity.
S/V Loner
(9,461 posts)2. Just wait..30 year...
car loans.
D_Master81
(2,295 posts)4. His answer is
More bank profits. Sure your monthly payment is lower, but unless you by a house in high school you dont have it paid off until youre well into retirement
Greg_In_SF
(701 posts)5. Who cares?
If someone wants to buy a house and they have no one to leave it to, let them. It may be the difference between owning and renting for them.