General Discussion

Key differences and considerations Total Interest: A 15-year mortgage saves you a large amount of money on interest. For example, on a ($500,000) loan, a 15-year mortgage might save you over ($400,000) in total interest compared to a 30-year mortgage.

The payments will be lower at 30 years... but you build equity much faster with the shorter term loan.

50 year mortgages are a way to soak the middle class with interest payments... which benefit the lenders and the home builders ( they get to sell more houses at higher prices to people that can't really afford them ). Builders like... hmmm.... IDK, "PulteGroup"

PulteGroup, Inc. is an American residential home-construction company based in Atlanta, Georgia, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed. In total, the company has built over 775,000 homes.

Gee. how about that.