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To: Dr. Sivana
30 year mortgages, a staple here, are almost unheard of

What's the typical term there?

7 posted on 02/19/2009 6:20:13 PM PST by what's up
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To: what's up

5 years is typical.

7 and 10 year are available at a higher rate.


11 posted on 02/19/2009 6:25:02 PM PST by fanfan
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To: what's up

25 or 30 year amortization, 5-year term is typical


18 posted on 02/19/2009 6:28:57 PM PST by Praxeologue
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To: what's up
What's the typical term there?

I seem to remember something along the lines of five years. Of course, people re-mortgage each time. WHen I visited my future wife's family I was flabbergasted when I found out. I just had visions of an old silent movie with the girl tied to the railroad track and the farm being seized by some guy with a big mustache.
19 posted on 02/19/2009 6:30:53 PM PST by Dr. Sivana (There is no salvation in politics.)
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To: what's up

5 year term is typical.


31 posted on 02/19/2009 6:36:40 PM PST by Former Proud Canadian (How do I change my screen name now that we have the most conservative government in the world?)
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To: what's up

Most home loans here are 15-25 years, renewed every 305 years. If you finance more than 85% or the home value you pay an extra insurance fee, and financing above 95% of value is extremely rare.


55 posted on 02/19/2009 7:15:06 PM PST by Squawk 8888 (TSA and DHS are jobs programs for people who are not smart enough to flip burgers)
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