50-year mortgage payments provide shockingly low payments. You can afford a home loan with lower payments realized with 50 year mortgage loans. By stretching the term and amortizing the interest over fifty years, borrowers are able to realize lower payments. 50-year mortgage rates are the lowest ever and Nationwide is one of the only lenders in the country to offer this unique home loan. Discover how low your payment could be with a 40 or 50-year home loan.
A few lenders across the country have had the 50 year mortgage to their mortgage product arsenals. Nationwide Mortgages is pleased to announce that a few of our preferred lending sources are offering the 50 year mortgage. The loan offers an amortization schedule that spans over 50 years. This will keep the payment very low. Homebuyers can enjoy the increased affordability that comes with a fifty-year loan.
Jody Sheen wrote in a recent article: "the expression of interest in 50-year amortizing loans comes a time when there has been a surge in the number of 40-year offerings, especially among sub-prime lenders." According to the California Association of Mortgage Brokers reveals that approximately 60 percent of mortgage brokers in the state expect 40-year fixed-rate mortgages to grow in popularity with homeowners next year because of their need for a more affordable mortgage product.
40 and 50-year home loan terms are a great alternative to the negative amortization loans or the interest only mortgages that have become so popular. At least with these loans some principal is paid each month, and borrowers have the option of a fixed rate term.
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