Finding 40-year mortgage lenders probably won’t be easy, and
40-year mortgage rates today are higher than rates for 30-year mortgages. But
especially for a first-time buyer, 40-year mortgage loans offer the potential
benefit of lower monthly payments.
Take the time to learn how 40-year mortgages
work, their pros and cons, and how to get a 40-year mortgage loan by reading my first article for new client NextAdvisor, Time Magazine’s new website featuring personal finance content and tips, available here.
February 21, 2021
Mortgage loans come in 40-year flavors, too
Mortgage
loans with a term of 30 years or 15 years are most commonly chosen by
borrowers. Fortunately, these aren’t your only options. You can also select a
40-year mortgage if you qualify.