25d • General discussion
50-year mortgage
The idea of a 50-year mortgage is gaining attention as a way to make homes more “affordable” — but here’s the catch: you’ll pay far more in the long run.
A $500K loan at 7% interest:
•30-year: $3,326/month — $697,544 in total interest
•50-year: $3,008/month — $1,305,065 in total interest
That’s 9.6% lower payments but 87% more total interest.
In short, you’d save on the monthly payment but pay nearly double the cost of the home in interest.
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50-year mortgage
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