Those struggling to afford a home may be wondering how long their mortgage payments can be stretched out.

The answer: half a century.

A few lenders have begun offering 50-year adjustable-rate loans to buyers who need to keep payments low in the face of record home prices and rising mortgage rates.

Most big banks offer 40-year mortgages, which account for about 5 percent of home loans, according to LoanPerformance, a real-estate data firm. So far, only a few small lenders have rolled out the five-decades-long mortgages… (Read More)

Source: The Seattle Times: Real Estate

Tags: Real Estate News