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40-Year Home Mortgages

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40-Year Home Mortgages

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40-Year Home Mortgages

40-Year Home Mortgages

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  • <iframe src="https://www.npr.org/player/embed/4126889/4126890" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Alex Chadwick talks with Day to Day personal finance contributor Michelle Singletary about the pros and cons of 40-year mortgages. Monthly payments for these loans are less than with traditional 30 year mortgages, but the interest paid over the life of the loan is substantially more.