What’s with the 50-year mortgage everyone is talking about?

A fifty-year mortgage is a proposed loan term far longer than the standard thirty-year loan most buyers use, designed to lower the monthly payment by stretching repayment out over more years. Stretching the term that far means a buyer builds equity much more slowly and pays substantially more total interest over the life of the loan. As of now this is more a discussion in the mortgage industry than a product available everywhere, so actual availability and terms vary by lender. Brian Beatty can point a buyer to a lender who can explain what loan terms are actually available right now.