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re: The 50-year mortgage is a good idea actually
Posted on 11/10/25 at 7:21 pm to cbree88
Posted on 11/10/25 at 7:21 pm to cbree88
quote:
Why not get a 50-year mortgage and then refinance it as soon as you can afford the 30-year loan? Or just make additional principal payments to pay down the 50-year loan way sooner
That makes sense. The people complaining about this aren’t familiar with the concept of sense.
3
Posted on 11/10/25 at 7:23 pm to fwtex
quote:
What will likely happen is the price of homes will go up because of buyers having more affordability, so buyers will eventually be in the same situation with a 50 year mortgage as they are now with a 30 year.
Ding ding ding
It's algebra. Anything you do on one side of the equation, will be done on the other side of the equation.
This only works if you "freeze" housing prices.
Posted on 11/10/25 at 7:25 pm to cbree88
None of it is a good idea...not even the shite we have currently is a good idea wtf???
Posted on 11/10/25 at 7:29 pm to cbree88
quote:
You can make extra principal payments to pay down the loan way sooner and gain equity faster.
You can but the person who needs a 50 year mortgage because they can’t afford to save while renting cannot.
Posted on 11/10/25 at 7:29 pm to cbree88
quote:
The 50-year mortgage is a good idea actually
A 50 year mortgage can be a very good thing if used correctly. The problem is most people don't know how to use debt correctly and even more people don't have the financial safety net to safely use it.
If it comes to pass, economically savvy and stable people will use them to build more wealth. However, they will increase the cost of homes. No matter how enticing it looks to the square footage or zip code challenged people it will result in the "rich" getting richer and the poor getting poorer.
Posted on 11/10/25 at 7:30 pm to TheePalmetto
quote:
That makes sense. The people complaining about this aren’t familiar with the concept of sense.
Let us know how many people refi down to 15 years... It's not many.
Most stretch their budget to 30 and once they get any equity they cash out refi to pay down their stupid car loans and credit card debt.
This will just enable more consumer debt
Posted on 11/10/25 at 7:33 pm to fwtex
quote:
What will likely happen is the price of homes will go up because of buyers having more affordability, so buyers will eventually be in the same situation with a 50 year mortgage as they are now with a 30 year.
Yep.
Normal people that tried to get 15 year mortgages wont be able to afford one if they wanted.
Prices will skyrocket
Posted on 11/10/25 at 7:35 pm to TheePalmetto
quote:It doesn't make sense in practice, because just about anyone opting for a 50-year loan is only doing so because they can't afford a 30-year. So whatever the percentage of people is who would then be able to afford a refinance and a drastically increased mortgage payment in a worthwhile number of years down the road is very small ... compared to the amount of people who would be upside down on their house because so little is going towards principle for the first decade or so.
Why not get a 50-year mortgage and then refinance it as soon as you can afford the 30-year loan? Or just make additional principal payments to pay down the 50-year loan way sooner
That makes sense. The people complaining about this aren’t familiar with the concept of sense.
Posted on 11/10/25 at 7:42 pm to rintintin
quote:
This
It will get more people into houses in the short term, but as with everything, when you increase demand faster than supply prices will skyrocket.
And we are already behind in supply
Posted on 11/10/25 at 7:48 pm to cbree88
quote:
probably require more government subsidies
True but it comes down to what the government should incentivize. I’d rather tax dollars go to home owner ship than subsidized rent.
Posted on 11/10/25 at 7:50 pm to cbree88
How do you pay for a roof? Air conditioner, or other expensive maintenance?
Posted on 11/10/25 at 7:52 pm to cbree88
even better, issue everyone a 75 year note at birth
Posted on 11/10/25 at 7:52 pm to cbree88
It’s a good idea if they cap interest at 3.5% and make it tax deductible.
Posted on 11/10/25 at 7:59 pm to cbree88
A 50 year mortgage is the perfect pitch for the banking industry. A triple threat.
Make things appear more affordable for the masses? Check
Make a frick ton more money through the interest on the loan? Check
Drive up the prices of the homes currently sitting in their portfolio? Check
Make things appear more affordable for the masses? Check
Make a frick ton more money through the interest on the loan? Check
Drive up the prices of the homes currently sitting in their portfolio? Check
Posted on 11/10/25 at 7:59 pm to cbree88
If this actually becomes a thing, I'm going to buy cheap rental houses on 50 year loans. Small payment, high rent, profit.
Posted on 11/10/25 at 8:05 pm to Bayou_Tiger_225
quote:
A 50 year mortgage is the perfect pitch for the banking industry.
If the banks wanted it they would offer it now.
Posted on 11/10/25 at 8:06 pm to touchdownjeebus
quote:that would have massive arbitrage implications when the prime lending rate is higher than that. it would be fraudulent chaos
It’s a good idea if they cap interest at 3.5%
Posted on 11/10/25 at 8:06 pm to cbree88
A 50 year mortgage will jack up prices, so your “monthly” won’t be any different.
Just like with car loans. And student loans.
Just keep blowing those bubbles…
Just like with car loans. And student loans.
Just keep blowing those bubbles…
Posted on 11/10/25 at 8:08 pm to Pintail
quote:
Getting a loan at 25 that wont mature until you are 75 is not a recipe for financial success.
Hopefully most will try and pay it off early like we did.
Posted on 11/10/25 at 8:08 pm to cbree88
quote:
However, it’s better than renting perpetually because you can’t afford to get into a house.
I'd argue it's clearly fricking not better than renting
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