Is there such thing as 40 yr mortgages anymore?

yes there are, however due to the rates available on a 30yr mortgage they are usually not cost effective if you are looking for a lower payment. Some clients will utilize an arm product with a 5 or 7 year fixed period on a 30yr amortization.

Yes there are such terms but the payment is not that much lower then say a 30 year term and you just lengthed your term 10 more years, rates are very low today a 15 year is something to consider

ARM -Adjustable Rate Mortgage is where the rate is fixed for a certain length of time, 3, 5, 7 or 10 year and after the fix term the rates will move with the market depending on which index you are linked to, rates on these types of terms have not attractive for some years know, the rates are almost what a 15 or 30 year term would be. So if oyu have long term plans for your home then the long fix rate is the product to explore

Hi Yes they do offer them still! But rate and payment not as attractive as a standard 30 year fix and payment savings not as great. Contact me to discuss other options and to discuss your financial situation. Thank You Robert Oliveira