Whats the latest on the 40 year mortgage?
What are the rates/points compared to a 30 year note?
For those in the biz, how popular are they?
Does anybody have one?
What are the pro's & cons?
a 40/40 are out there but it comes with a hit on the rate and over the long term it is not worth it:
400,000 30year 6%=$2398
400,000 40year 6.125%=$2236
over the life of the loan it would be an additional $210,000 on the 40 year