Principal Payback On Long-Term Loans

Did you know:

  • After 30 years, a 30-year mortgage term is paid in full.
  • After 30 years, a 40-year mortgage term has 57% of the original borrowed amount remaining.
  • After 30 years, a 50-year mortgage term has 81% of the original borrowed amount remaining.

Of course, it’s not all bad for the holders of longer-term mortgages — the mortgage interest tax deductions are higher of the holders of 40- and 50-year mortgage holders over the first 30 years.