2007-08-25 09:31:11 · 5 answers · asked by wolverine1052000 1 in Business & Finance ➔ Renting & Real Estate
Yes https://www.countrywide.com/FTLP/Cube/default.aspx?CMSSiteID=CW_1stpage_40year&mpt=23526
Or contact a broker.
2007-08-25 09:52:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Their website mentions 40 year loans, I don't see anything about 50 years
If you find a loan that long, realize that you'll be paying 10 or 20 years additional payments, and the payments won't be that different from a 30 year loan. On a 200,000 loan at 7%, principal and interest payment would be 1203.38 for 50 years, 1242.86 for 40 years, or 1330.60 for 30 years. So you'd pay $127 less a month for 50 years, but would make 20 years of extra payments to make up for that - sounds like an awful lot of interest. And that's if you got the SAME rate for 50 years as you could get for 30, and it would really probably be higher, so you might not even save any money on your payment.
2007-08-25 10:00:43 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
They might offer 40 year for very, very well qualified borrowers using full documentation but not 50. Countrywide has reported financial problems, having to borrow money themselves to keep their doors open. However, as I understand it they reassuring people that all is well, I put a yahoo news report below, hope it helps
2007-08-25 09:56:58 · answer #3 · answered by Etta P 4 · 0⤊ 0⤋
Test the link for those who will
2007-08-25 12:05:34 · answer #4 · answered by helprhome 5 · 1⤊ 0⤋
I doubt it. They are running out of money
2007-08-27 04:47:42 · answer #5 · answered by sup 5 · 0⤊ 0⤋