Is It True?
That there are mortgage loan options that are longer than 30 years? what are the benefits of such a long loan term? by janelle89828 from Tampa, Florida. Oct 13th 2010
Joel Lobb (kentuckyloan)
#3 ranked lender in Kentucky - 192 contributions
$0 year loans give you a lower payment but you pay back more in interest over loan term and usually pay a higher rate
Carl Ashton (cashton)
#83 ranked lender in Florida - 67 contributions
Yes we can go to 40 years in some cases
Rudi Hofmann (CaPortfolioLoans)
#281 ranked lender in California - 380 contributions
There are loan terms up to 50 years with very few lender. .... Most lenders go up to 40 years. ... The rates are about 1% or more higher than a 30 year fixed rate. ... The payment is a little lower. ... You will pay much more interest and receive far less equity throughout the term of the loan. ..... If you need a lower payment, I would suggest a 5/1 ARM. .... Happy funding, Rudi
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