this post was submitted on 12 Nov 2025
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Yeah I compared some numbers and guessed a plausible interest rate for the 50 year based on the 15 vs 30 year interest rates at a couple of real banks near me
50 years at 6% with 5% down on 200k (fairly plausible for a decent home where I live and realistic for a first time home buyer who 50 year mortgages are clearly catering to) is 1k/mo almost exactly
So the difference is pretty small on a realistic first time home buyer's home, but having been on the edge of approval for a home loan before that $100/month can absolutely be the difference between getting the home now and having to wait another 2-4 years depending on markets. In my case they assumed my insurance would cost more and that actually made all of the difference in my home loan application because that shaved about $100 per month off
One interesting side note, one of the local credit unions I looked at offers different interest rates depending on the value of the loan! For a 30 year fixed loan they offer the following rates:
So yeah that's new! I've not seen that before!
So that's a great picture I think for the difference between the loan durations.
I of course think the real problem is that average people might need a 50 year loan to barely pay for a house these days. But it isn't "nothing" between the terms, it does help in the super short term