Real Estate

New – Much Longer – Amortization Terms

Wow, I just found out they now allow 35-50 year term mortgages in the US, up to 40 years in Canada, which of course means a lot lower monthly payments. Very attractive option if you plan to stay in your home for only 1-2 years. Not a very good choice if you’ll be in your place for a few years.

Here’s a sample Amortization Comparison table