50 Year Mortgages & No Minimum Credit Score: What You and Your Agent Need to Know
50 Year Mortgages & No Minimum Credit Score: What You and Your Agent Need to Know
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Is the 50-year mortgage the answer to affordability, or a financial trap? And what does “no minimum credit score" really mean for your home loan application?
We break down the two most talked-about changes in the mortgage world right now. These shifts are designed to help more people achieve homeownership, but you need to understand the fine print.
In this video, ReAnn covers:
* The 50-Year Mortgage: We compare the 30-year vs. 50-year term on a $300K loan at 6% to show the difference in monthly payments, total interest, and how long it takes to build equity.
* The Hidden Cost: Why the 50-year term is a bridge to homeownership (it's better than renting!), but requires a plan to avoid massive interest costs and slow equity building.
* No Minimum Credit Score: We clarify the new Fannie Mae policy eliminating the minimum credit score and what underwriters look for instead - focusing on non-traditional credit and debt-to-income.
* Realtor Insight: How to set client expectations and use these new options strategically to get more approvals.
Don’t let these changes confuse you. Get the clear, trustworthy advice you need to navigate the current market.
➡️ Buyers: Message me for a side-by-side comparison plan with equity checkpoints and a credit roadmap.
➡️ Realtors: Let's build your client pre-brief kit so offers land fast and clean. Reach out today!
If you have any questions or comments, please leave them in the section below.
For more mortgage loan info I am here for all your mortgage needs. If you have any questions
Call or text me 915-478-1157
Apply Now at https://www.mortgagemasterep.com
Edge Home Finance
7362 Remcon El Paso, TX 79912 NMLS# 891464
ReAnn Gonzalez NMLS# 219070
Chapters:
00:00 50-Year Mortgages & "No Minimum Credit Score" Explained
00:59 The Two Big Changes - What They Are & Why They Matter
01:55 Why Borrowers & Agents Should Care
02:30 Let's Talk Math - 30-Year vs 50-Year Loan Comparison
03:23 The Costly Mistake Most Buyers Make
04:22 "No Minimum Score" - What It Really Means
05:13 Recap & Next Steps - Use It as a Bridge, Not a Destination
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