The 50 Year Mortgage

If you’ve heard the buzz, yes — the 50-year mortgage is being tossed around as an affordability option. And while I’m all for creative solutions (especially in California, where childcare costs make you rethink all your life choices), the numbers definitely make you pause.

Scenario:
Purchase price: $1,000,000
Loan amount: $800,000
Interest rate: 6.5% 

Comparing a 30-year vs. 50-year fixed mortgage:
Monthly Payment
30-year: ~$5,056/month
50-year: ~$4,510/month

Difference: About $546 less per month — and honestly, that could be a big win for some people. Cash flow is real, and sometimes that breathing room is exactly what makes homeownership possible.

But here’s the flip side:

Total Interest Paid Over the Life of the Loan
30-year: ~$1,020,356
50-year: ~$1,905,841

That’s nearly $885,000 more in interest over time. Wild, right?

One thought that feels worth mentioning: If someone did choose a 50-year mortgage, planning ahead to refinance into a 30-year at some point would probably be wise — just to avoid carrying that massive interest cost for the full term. It’s not the “right” way or the “wrong” way… just something to weigh.

At the end of the day, there’s no single path to homeownership. The journey has to work for you — your life, your comfort level, your long-term goals.

And truly, I’d love to hear your thoughts on this. The 50-year mortgage is such an interesting concept, and I’m curious how you see it.