11/11/2025
50 Year Mortgages? Let’s Talk About It.
There’s been a lot of buzz lately about 50-year mortgages. Will they actually become a thing? Who knows. But are they a good idea for consumers?
Absolutely not.
Let’s break it down:
Take a $300,000 loan at 6.5% interest. I'd also assume the rate on 50-year mortgages would be higher, but we're using the same rate for this example.
30-year mortgage: After 7 years of minimum payments, your balance drops to just over $270,000.
50-year mortgage: After 7 years, your balance is still around $293,000 barely enough to cover closing costs.
Now consider the lifespan of major home systems:
Roof: 20–30 years
Water Heater: 10–15 years
HVAC: 15–20 years
By the time you’ve paid down any real equity, you’re already replacing big-ticket items. Yes, you may have these costs in a 30-year mortgage, but you are building equity much quicker to hopefully offset these repair costs.
Sure, a 50-year mortgage might save you a couple hundred bucks a month, but in the long run? It’s a trap.
Short-term gain. Long-term pain.
