Why a 50-Year Mortgage Could Cost You Millions
Think a 50-year mortgage is a smart way to lower payments? I ran the numbers on a $500K loan at 7% to show how much a 50 year mortgage could cost and why a 50-year mortgage could cost you millions. I explain mortgage term comparison 30 vs 50 year, total interest paid, and why paying your mortgage fast often wins. I'm Jeremy from Personal Finance Club.