Oct

19

40 Year Amortization

Filed Under Buying, Mortgages, Real Estate General, Refinancing 

If you are wondering how to lower your monthly payments and/or get into this market… using up to a 40 year amortization may be for you…

Take a look at this video…

If you have any questions or thoughts, please feel free to leave your comments below…

Regards,

Jared & Rebecca Chamberlain
247-5171
jaredcjc@mac.com
rebeccac@shaw.ca

 
icon for podpress  40 Year Amortization [3:41m]: Play Now | Play in Popup | Download

Comments

2 Responses to “40 Year Amortization”

  1. Radley77 on November 13th, 2007 8:36 am

    For a 25 year mortgage you pay roughly the amount of the mortgage in interest payments. For a 40 year mortgage you pay roughly DOUBLE the amount of the mortgage in interest payments.

  2. Admin on November 14th, 2007 10:24 am

    Hey Radley77,
    For an individual who is trying to get into the market, with prices being as high as they are, in most cases they don’t care about the interest they are paying, but what they do care about is what it is costing them per month… As well, if they took the mortgage for a 40 year amortization, and had a 5 year term, they then could re-mortgage with prices going up, and lower their amortization, which could keep their monthly cost the same, thus lowering the interest amounts… This would then be a way for them to get into the market…

    Jared
    http://www.ChamberlainGroup.ca

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