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40 YEAR MORTGAGE |32819 | 32836 | Dr. Phillips

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40 YEAR MORTGAGE

Yes , there is a 40 year mortgage and available. A 40 year loan is a type of home loan that has a longer repayment period compared to traditional mortgages, which are typically 30 years. The extended repayment period allows borrowers to have a lower monthly payment, it also means that they will pay more interest over the life of the loan. It's important to consider the pros and cons with a lender of a 40 year mortgage and if it aligns with your financial goals and circumstances. 40 year mortgages have been available for several decades but not truly promoted, some lenders service this loan and some do not. They were first introduced in the late 1980's as a way to make homeownership more affordable by spreading out the loan repayment over a longer period of time.

However, it's worth noting that 40 year mortgages are as not common as a traditional 30 year mortgage or shorter terms. Lenders may have special eligibility criteria and requirements for borrowers interested in obtaining a 40 year mortgage. It's always a good idea to consult with a mortgage professional to understand the availability and suitability of different mortgage options based on your specific needs.

HOME LOAN INFORMATION

Even more home loan information on a 40 year mortgage to clarify is that your repayment period is 10 years longer than a normal 30 year mortgage. This serves as an extended period that allows borrowers to have lower monthly payments, but also means that they will pay more in the interest over the life of the loan. The word on the streets is marry the home and date the rate. This makes sense. It's important to consider the pros and cons of a 40 year mortgage. The key is that this type of loan could easily get you in your home. Your trusted advisor should have a pocket of good lenders that may be able to help you.

TRUSTED ADVISOR

As a trusted advisor, professional realtor and retired military veteran I am here to serve you in the Dr. Phillips and Central Florida area to purchase or for the sale of your home. In the absence of trustworthy information whether its a housing crisis or local housing market, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community to ensure you are making the right decision.

Part of my job is to keep you informed and educated about the local housing market trends, pricing and inventory level, buying information on the buying and selling process to include common real estate terms and videos. It is important to keep up to date on the market trends, don't get confused with the media, they talk national data, I can provide the most up to date local area data.

So don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are looking for a home, look for your realtor with the heart of a teacher. If you are ready to start your journey, contact me today at 850 496-6412 to begin a new walk to homeownership and all your real estate needs.


  • 40 YEAR MORTGAGE |32819 | 32836 | Dr. Phillips
  • 40 YEAR MORTGAGE |32819 | 32836 | Dr. Phillips
  • 40 YEAR MORTGAGE |32819 | 32836 | Dr. Phillips
  • 40 YEAR MORTGAGE |32819 | 32836 | Dr. Phillips

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Stellar MLS (updated 4/14/24 2:29 PM) |
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