March 23, 2006

California offering 40-year mortgages for first-time homebuyers

San Francisco Business Times: State offering 40-year mortgages for first-time homebuyers – 2006-03-15
A state agency that helps first-time homebuyers introduced a 40-year fixed mortgage on Wednesday.

The California Housing Finance Agency already offers 30-year fixed and 35-year interest only mortgages.

All three mortgage options are offered at below market, fixed interest rates.

Is it only a matter of time before we see 90 year mortgages like in Japan?

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