40 Year Mortgage - Friend or ???

The 40 year mortgage is being mentioned in the papers again and in my opinion, a 40 year loan is generally not a good idea. Rates are generally higher than a 30 year loan and if you need a 40 year loan to get your payment low enough to handle, then you should consider buying a less expensive home.

Here are some other opinions:
http://realtytimes.com/rtcpages/20050118_40yearmtg.htm
http://loan.yahoo.com/m/cq_fortyyear.html
http://www.century21.com/learn/content.aspx?content_id=243
http://msnbc.msn.com/id/6281881/

Check out the easy-to-use tools on the right side to find out what your payments will be for your new home in Highlands Ranch.