Such as common sense would suggest, a fifty year mortgage is a mortgage loan that you expect to have repaid in 50 years. By extending the amount of time of the loan, you can lessen the amount due each month. The total you must pay upfront will also be less than with a shorter term home mortgage. So with a 50 year mortgage, you can pay much less per month as well as the down payment.
For most of these loans, they're fixed-rate. That means they're made so that you've 50 years to repay the loan. The majority of buyers will decide to pay the mortgage off much faster, but having the choice of 50
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