Troy Brakefield - NMLS 1550123

Who Really Wins with a 50-Year Mortgage? (Hint: Not You)

The idea is tempting: stretch your loan to 50 years and save a few hundred dollars a month. But this is a win for the banks, plain and simple.

Let's look at the true cost of that small monthly break:
Your $220/month savings could cost your family an extra $300,000 (or more!) in total interest.

The longer the term, the more interest accrues—it’s the exponential power of time working against you. Don't finance the bank's retirement with your home loan. Aim for the shortest term you can comfortably afford.

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