So you gotta ask yourself, why does the shorter term mortgage have a lower interest rate?
I think you picked the 15 yr because you knew it would be paid off sooner at a lower rate which saved you money two ways. And you could truly afford it.
I think the rocket fuel you're looking for would be to eliminate the tariffs on all products that go into building homes. That lowers your cost and you could pass it on to your customers.
I also think Americans need to rethink just how big of a shack they need to live in. I know plenty of...
That 50 year loan is a boon for the banks.
People that don't understand compound interest will be owned by it and be it's slave for the duration of their lives.
Why not write mortgages like a auto loan where the principle is paid down every week instead of every month or biweekly? The greedy...
I don't see how a 50 year mortgage helps home builders.
I can understand how it stuffs money in the pockets of mortgage and banking companies.
I would think that writing home loans the way car loans are written would help buyers and builders.
The problem is that people think that they can afford the vehicle or house because they can make the payment.
They don't think about the license, insurance, taxes or upkeep/maintenance
Thought some of you might find this project interesting. Built a bridge through a swamp on my property. First two pictures are the old bridge that was made from cedars with treated 2x6's nailed across for a deck.
Looking North
Looking South
First step was making a layout line to make...
Depending on how you like your drinks mixed you may have some trouble finding ingredients. Once you get outside of the upper Midwest not everyone knows what "sour" is. Sweet is easy, 7-UP, Sprite etc. is sweet, "sour" is a different taste.