50 year mortgage

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Dan Scott
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7:11p, 11/8/25
AG
Can somebody check on Dave Ramsey? I believe this is an admission that housing is unaffordable and we can't do anything about it.

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Aggie95
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7:18p, 11/8/25
AG
Why not
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lb3
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7:27p, 11/8/25
AG
California has interest only mortgages.
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The Ex Officio Director
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7:28p, 11/8/25
There's 8 year car notes on Nissan Altimas. Why not a 50 year mortgage on a 2000 square foot home at 250,000 with 5.2% rate. A fool and his money are soon parted.
Can't decide if I want to be cute & cuddly, or go blow some sh*t up.
Decisions decisions.
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El Gallo Blanco
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In reply to lb3 • 7:31p, 11/8/25
lb3 said:
California has interest only mortgages.


I have always wondered how middle class people were able to purchase homes out there.
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AtomicActuator
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In reply to Aggie95 • 7:33p, 11/8/25
AG
Aggie95 said:
Why not

Because it will dramatically increase the number of people who will be upside down the next time housing prices drop. And we learned already that you really don't want a lot of people upside down on their mortgages.
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jja79
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7:41p, 11/8/25
AG
This idea isn't new and interest only mortgages are available in states other than California. 20 years ago you didn't need to verify income or assets to get a mortgage.
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hph6203
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In reply to The Ex Officio Director • 7:49p, 11/8/25
AG
5.2%.
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Colonel Kurtz
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7:59p, 11/8/25
AG
Deport 50 million foreigners? Nah, 50 year mortgages instead.
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Aggie95
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In reply to AtomicActuator • 8:03p, 11/8/25
AG
AtomicActuator said:
Aggie95 said:
Why not

Because it will dramatically increase the number of people who will be upside down the next time housing prices drop. And we learned already that you really don't want a lot of people upside down on their mortgages.


I was kidding
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Bird Poo
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8:11p, 11/8/25
AG
Lake house here I come
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flown-the-coop
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8:17p, 11/8/25
AG
It's common in other countries, but to me something's flawed when you can borrow for a period of time that exceeds your anticipated earning years.

It should help alleviate the generational transfer of wealth pretty effectively when more and more people DIE whilst upside down and with insufficient assets to cover the note.

But if people want to make poor financial decisions, let them. It provides opportunities for those who are fiscally responsible to take advantage of the opportunities presented by those who are not so responsible.
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Pacifico
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8:21p, 11/8/25
AG
Raise interest rates.
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Aggie95
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8:30p, 11/8/25
AG
At least we aren't Canada where everything is adjustable rate 5 year mortgages.
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Pizza
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8:39p, 11/8/25
Also this...

Fannie Mae eliminating minimum 620 credit score eligibility requirement

Main points:
1) Fannie is following Freddie Mac's lead from several years ago when it eliminated a minimum required middle credit score for loan approval.

2) Does this mean folks with credit scores under 620 will now receive loan approvals? Not necessarily. There is a lot more that goes into a credit decision.

3) Don't expect to skip paying for credit reports in your homebuying process. Loans sold to Fannie Mae must continue to include the third-party credit scores.

4) Effective Nov. 16, private mortgage insurer MGIC is going to accept middle FICO credit scores as low as 600.

5) It's unclear if other PMI companies are going to follow MGIC's lead, based on a response from a U.S. Mortgage Insurers spokesperson's response.

https://www.google.com/amp/s/www.ocregister.com/2025/11/06/fannie-mae-eliminates-minimum-620-credit-score-eligibility-requirement/amp/
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aggiehawg
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In reply to El Gallo Blanco • 8:41p, 11/8/25
AG
El Gallo Blanco said:
lb3 said:
California has interest only mortgages.


I have always wondered how middle class people were able to purchase homes out there.

Usually were balloon payments that needed to be refied.

Back in the 80s, different forms of mortgages. Adjustable rate ones, could be a big problem, depending on which national measure was used.
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YouBet
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8:52p, 11/8/25
AG
Variable rate mortgages are now up to 10% of issued mortgages. They were around 2% only a few months ago. Still not where it was back in 2008 housing crisis when they were around a a 1/3 of issues mortgages but they are growing quickly.

Whole thing is crazy. 50 yr mortgages will just mean prices stay where they are. It's throwing in the towel.

But debt is not an issue in this country according to Washington.
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TresPuertas
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8:53p, 11/8/25
AG
the solution is not more mortgages. it's less options available for illegals and unqualified buyers

this helps solve the housing problem pretty quickly.
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TresPuertas
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In reply to Pizza • 9:00p, 11/8/25
AG
Pizza said:
Also this...

Fannie Mae eliminating minimum 620 credit score eligibility requirement

Main points:
1) Fannie is following Freddie Mac's lead from several years ago when it eliminated a minimum required middle credit score for loan approval.

2) Does this mean folks with credit scores under 620 will now receive loan approvals? Not necessarily. There is a lot more that goes into a credit decision.

3) Don't expect to skip paying for credit reports in your homebuying process. Loans sold to Fannie Mae must continue to include the third-party credit scores.

4) Effective Nov. 16, private mortgage insurer MGIC is going to accept middle FICO credit scores as low as 600.

5) It's unclear if other PMI companies are going to follow MGIC's lead, based on a response from a U.S. Mortgage Insurers spokesperson's response.

https://www.google.com/amp/s/www.ocregister.com/2025/11/06/fannie-mae-eliminates-minimum-620-credit-score-eligibility-requirement/amp/


they made movies about who's responsible for the mortgage crisis in the early 00s. they got it wrong. the mortgage companies were only playing by the rules set out by an organization legally represented by a young community organizer in illinois. They forced lenders to make risky loans to unqualified buyers. This crashed the economy.

But i guess if NYC can't learn from past catastrophies why the hell should i expect anyone else to.

we're doomed.
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Kenneth_2003
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9:11p, 11/8/25
AG
Group and I were chatting about housing the other day. It's a spending and saving problem.

Take a young couple... Even if they're actively trying to have kids... Concerns about schools are 5 years away, you don't have to chase the good school areas to start. Plus in 5-8 years where the good schools are can change.

Yes it's $10 Starbucks. It's Netflix, Hulu, Disney+, and Paramount. It's going out to lunch everyday. It's happy hour after work 2-3 times a week. It's the newest iphone or Android when your current isn't even paid off. It's an 8 year car loan on a car that costs more than your parents first house.

It's not any one of those things I've listed above (ok maybe the car) but in aggregate they all add up.

There ARE affordable homes. They may not be in the hottest or trendiest areas. So what? So you want a home or do you want to keep chasing vibes in the trendy part of town where rents are almost equal to the mortgage?

Do you want to buy a home? Or do you want to ***** about not being able to afford it? Just pick one.
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one safe place
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In reply to Dan Scott • 9:14p, 11/8/25
Dan Scott said:
Can somebody check on Dave Ramsey? I believe this is an admission that housing is unaffordable and we can't do anything about it.

Well, can always not take out a 50 year mortgage, don't borrow until things improve.
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titan
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In reply to Kenneth_2003 • 9:17p, 11/8/25
S
Kenneth_2003 said:
Group and I were chasing about housing the other day. It's a spending and saving problem.

Take a young couple... Even if they're actively trying to have kids... Concerns about schools are 5 years away, you don't have to chase the good school areas to start. Plus I'm 5-8 years where the good schools are can change.

Yes it's $10 Starbucks. It's Netflix, Hulu, Disney+, and Paramount. It's going out to lunch everyday. It's happy hour after work 2-3 times a week. It's the nearest iphone of Android when your current isn't even paid off. It's an 8 year car loan on a car that costs more than your parents first house.

It's not any longer of those things I've listed above (ok maybe the car) but in aggregate they all add up.

There ARE adorable homes. They may not be in the hottest or trendiest areas. So what? So you want a home or do you want to keep chasing vibes in the tender part of town where rents are almost equal to the mortgage?

Do you want to buy a home? Or do you want to ***** about not being able to afford it? Just pick one.

You are leaving out one important category that also drives that. Term it tenability. "Hottest or trendiest" are shallow factors. But an area being crime riddled quickly imposes cost multipliers and even personal risk that cancels any savings being made. We just came out of an admin that worked to enable crime, and many DAs still greenlighting it, and this makes some areas untenable, rather than just merely not trendy.

So its not as simple as the youth can just go to the bad cheap housing locations.
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bmc13
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9:18p, 11/8/25
AG
"you'll own nothing and like it"
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hbtheduce
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9:20p, 11/8/25
AG
I for one can't wait to sign up to be a literal wage slave for my next house.
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TAMU1990
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9:29p, 11/8/25
AG
Deport - it's a supply and demand issue
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TresPuertas
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In reply to titan • 9:30p, 11/8/25
AG
titan said:
Kenneth_2003 said:
Group and I were chasing about housing the other day. It's a spending and saving problem.

Take a young couple... Even if they're actively trying to have kids... Concerns about schools are 5 years away, you don't have to chase the good school areas to start. Plus I'm 5-8 years where the good schools are can change.

Yes it's $10 Starbucks. It's Netflix, Hulu, Disney+, and Paramount. It's going out to lunch everyday. It's happy hour after work 2-3 times a week. It's the nearest iphone of Android when your current isn't even paid off. It's an 8 year car loan on a car that costs more than your parents first house.

It's not any longer of those things I've listed above (ok maybe the car) but in aggregate they all add up.

There ARE adorable homes. They may not be in the hottest or trendiest areas. So what? So you want a home or do you want to keep chasing vibes in the tender part of town where rents are almost equal to the mortgage?

Do you want to buy a home? Or do you want to ***** about not being able to afford it? Just pick one.

You are leaving out one important category that also drives that. Term it tenability. "Hottest or trendiest" are shallow factors. But an area being crime riddled quickly imposes cost multipliers and even personal risk that cancels any savings being made. We just came out of an admin that worked to enable crime, and many DAs still greenlighting it, and this makes some areas untenable, rather than just merely not trendy.

So its not as simple as the youth can just go to the bad cheap housing locations.


I'll go one further. there are options near major cities that are affordable. Places like Lavon TX, a suburb of Dallas, are still building sub 300k new homes that should allow some people to be able to purchase a nice home to raise a family. Are they palaces? no, but they allow entry to decent school districts

one of the problems with this however are the buyers they attract. I've seen new construction neighborhoods turn to scummy neighborhoods within 5 years with cars in the driveway, broken down, dilapidated conditions of houses due to upkeep, etc. the problem is that people can't leave their bad habits and poor living choices behind. It's a culture thing. and I'll be the one to say it. Home Ownership is not for everyone. and im fine wit that
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chris1515
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9:33p, 11/8/25
AG
I imagine the interest rate on a 50yr loan would be higher than a 30yr loan by about enough to offset any saving from a lower principal payment. Why would an investor want to accept a lower return for a longer term commitment?

For people that aren't good at saving money, making a mortgage payment each month is a great way for building some equity in something/anything.
Giving that a 50 year amortization would just reduce that equity building in the early years.

I'm skeptical how well that's going to work to improve affordability, and what the other effects might be
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DaveRamsey
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9:40p, 11/8/25
Aiden and Braiden can get some bunk beds. If you can't afford it over 30 years you can't afford it.

Eat some rice and beans.
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Kenneth_2003
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In reply to titan • 9:51p, 11/8/25
AG
titan said:
Kenneth_2003 said:
Group and I were chasing about housing the other day. It's a spending and saving problem.

Take a young couple... Even if they're actively trying to have kids... Concerns about schools are 5 years away, you don't have to chase the good school areas to start. Plus I'm 5-8 years where the good schools are can change.

Yes it's $10 Starbucks. It's Netflix, Hulu, Disney+, and Paramount. It's going out to lunch everyday. It's happy hour after work 2-3 times a week. It's the nearest iphone of Android when your current isn't even paid off. It's an 8 year car loan on a car that costs more than your parents first house.

It's not any longer of those things I've listed above (ok maybe the car) but in aggregate they all add up.

There ARE adorable homes. They may not be in the hottest or trendiest areas. So what? So you want a home or do you want to keep chasing vibes in the tender part of town where rents are almost equal to the mortgage?

Do you want to buy a home? Or do you want to ***** about not being able to afford it? Just pick one.

You are leaving out one important category that also drives that. Term it tenability. "Hottest or trendiest" are shallow factors. But an area being crime riddled quickly imposes cost multipliers and even personal risk that cancels any savings being made. We just came out of an admin that worked to enable crime, and many DAs still greenlighting it, and this makes some areas untenable, rather than just merely not trendy.

So its not as simple as the youth can just go to the bad cheap housing locations.

I'm not advocating going someplace unsafe. But you're not going to start out in the Heights or Midtown.
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HollywoodBQ
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In reply to jja79 • 10:03p, 11/8/25
AG
jja79 said:
This idea isn't new and interest only mortgages are available in states other than California. 20 years ago you didn't need to verify income or assets to get a mortgage.
and then, in 2008, it all came crashing down
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HollywoodBQ
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In reply to El Gallo Blanco • 10:07p, 11/8/25
AG
El Gallo Blanco said:
lb3 said:
California has interest only mortgages.


I have always wondered how middle class people were able to purchase homes out there.
It took balls of steel to sign up to a $5,800/month mortgage for my 1250 sq ft mansion in LaLa land.

Alternatively, you can commute for a variable and unpredictable, 60-120 minutes each way so you can spend about half as much on housing. It's all a tradeoff.
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jja79
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In reply to aggiehawg • 10:09p, 11/8/25
AG
With a few exceptions balloon payment mortgages aren't allowed for what are considered Qualified Mortgages any longer.
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IIIHorn
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In reply to The Ex Officio Director • 10:18p, 11/8/25
Psycho Bunny said:
There's 8 year car notes on Nissan Altimas. Why not a 50 year mortgage on a 2000 square foot home at 250,000 with 5.2% rate. A fool and his money are soon parted.


A fool and his money is some party.
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CheeseSndwch
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10:19p, 11/8/25
50 years? Buy at 20 and payoff at 70? The only way I see that being feasible is for a multigenerational family household.
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Waffledynamics
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10:21p, 11/8/25
AG
As someone who is quite conservative with my money and not a fan of debt, I can't understand why debt is not seen as a huge problem.
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