Depends on if the 30-year loan is racist or not.

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Apr 9, 2021
1:53:11pm

ForzaPuma All-American

Depends on if the 30-year loan is racist or not.

subject line is a half-hearted joke, but the only reason we have 30-year mortgages is that Fannie and Freddie will buy 30 year-mortgages. For them to go out farther, the FHA would have to approve them to buy longer-term mortgages.

No way banks will just do that. Way too much interest rate risk to originate a 40-year fixed rate loan without Fannie/Freddie support.

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ForzaPuma

Previous username: chaden02
Bio page: ForzaPuma
Joined: Feb 11, 2011
Last login: Apr 24, 2024
Total posts: 4,689 (72 FO)

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Messages

Author

Time

POLL: We will see qualified 40/50/60 year mortgages in the next 5-10 years.

ag4cougs

4/9/21 1:22pm

Do you agree/disagree with this policy to address affordable housing issue?

ag4cougs

4/9/21 1:27pm

Based on Car loans increasing I could see mortgages creeping up.

groy

4/9/21 1:27pm

60 Year is almost admitting to never paying it off until death.

groy

4/9/21 1:28pm

Rent with all the required liability and repair responsibility.

JAGA97

4/9/21 1:29pm

Not really, you'd still own the equity if you sold.

BLT-Coug

4/9/21 1:46pm

And? Why is that a bad thing?

Ozymandias

4/9/21 1:59pm

I voted false because you included 50 and 60. I could see them getting longer

4/9/21 1:30pm

Lengthening the loan has diminishing returns.

byujdmba

4/9/21 1:34pm

When rates go negative - 60 year mortgage at 0% interest - not a bad deal

novacoug1

4/9/21 1:43pm

Many countries in Europe have 1% mortgages. It is now the norm

Nat Gas Man

4/9/21 2:51pm

40 year mortgages were a thing right before the 2008 crash.

Manti

4/9/21 1:34pm

Are under review right now and I don’ see how they aren’t approved by the Feds

Nat Gas Man

4/9/21 2:49pm

A two to five year loan should be the longest you have a loan out.

Archaea

4/9/21 1:37pm

Huh?

4/9/21 1:49pm

Depends on if the 30-year loan is racist or not.

ForzaPuma

4/9/21 1:53pm

If we returned to more generational housing it would make sense.

Tokolosh

4/9/21 2:07pm

I’ve been trying to teach this to my kids. Makes a huge difference in the

Nat Gas Man

4/9/21 2:53pm

It works some places because you only have 1 or 2 kids. How is that going to

Ozymandias

4/9/21 2:56pm

Well since the average US family is down to below 2 kids. I guess make more $$

Nat Gas Man

4/9/21 3:00pm

I think many home owners are already doing this

USMCdad

4/9/21 3:09pm

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