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50 Year Mortgage versus a 30 year mortgage - Let's break down the numbers in interest to be paid to the bank
Hi, I'm Connor with Honor - message me here!
🚨 A 50-Year Mortgage? Let's Talk About the REAL Cost.
You've probably heard the buzz... they're floating the idea of a 50-year mortgage. 🤯
The immediate reaction? "Wow, a lower payment!"
But like anything that sounds too good to be true, you must apply critical thinking. I did the math using a real Santa Clarita home example, and the results are shocking.
Let's look at the numbers on a $680,000 loan:
30-Year Loan: Your payment is ~$4,298/mo.
50-Year Loan: Your payment is ~$3,833/mo.
That's a $465 monthly savings. For many families in the SCV…
The skinny
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