Raybyrnes – I was surprised

[4plexowner]

Raybyrnes – I was surprised the first time I saw how little mortgage payments change as we extend the period from 30 yrs to 40 yrs

Here are the numbers for a $400K loan at 6% fixed:

30 yrs – $2398/mo

40 yrs – $2200/mo

50 yrs – $2105/mo

Since the Japanese were offering 100 yr mortgages before their market dropped by over 65% let’s consider that payment

99 yrs – $2005/mo