50-year mortgage? It’s making headlines but is it a clever move or a hidden trap?
Here’s the deal, a 50-year amortization brings your monthly payment way down, good news for affordability.
But you are still paying for 50 years. That means higher total interest📈, slower equity build-up, and less flexibility if rates drop or you want to move.
So before you commit, ask, What’s my interest rate compared to a standard 30-yr?
Calculate, how much equity will I have after 5-7 years? Plan, what’s my exit strategy? Are you in it for decades, or three years till the next listing wave?
If you love the idea of ultra-low payment and long-term hold great, this could be your lane. But if you’re buying with an eye to move, upgrade or take profit in 3-5 years, it might cost you more than you think.
Want to map the numbers for your scenario? Call me, we can talk through your options.