The 40 yr & 50 year mortgage arrived in the US very recently. Other countries, like Japan, have 100 year mortgages to accomodate the high values of real estate.

Need to consolidate some debt, transition out of an ARM that's rising fast, & you want a home loan that will accommodate a lower monthly payment AND be a fixed rate? Consider the 40 or 50 year fixed mortgage.

40 and 50 year home loans were popularized when home buyers who had high mortgages wanted the comfort of lower payments and did not want the risk of adjustable rate mortgages.

The 40 yr mortgage is more common than the 50 yr mortgage, but you should be able to find fixed versions of both. The 40 yr mortgage has helped a lot of Americans retain their homes instead of losing their home to foreclosure.

Banks look at your monthly payment as a key factor in determining whether or not you can afford a home. Cash flow is what they are looking at.

When you reduce the payment by amortizing the loan over the 40 year period, you have a greater chance of qualifying for the loan.

The 50 year home mortgage can further extend your ability to afford monthly payments on the property by lowering the monthly payment even more.

Discuss 40 year mortgage and 50 year mortgage options with your mortgage company. Medicaid