Sunny
83.5 ° F
Full Weather
Sponsored By:

35 Year Mortgage Loan Sweet At First With Bitter Aftertaste

California´s affordable housing bank is throwing a new life raft to residents struggling to buy their first homes.

That´s a fixed-rate 35-year loan, an alternative to the mortgage industry´s conventional 30-year loan. It offers buyers interest-only payments the first five years. State housing officials acknowledge it´s more costly to buyers in the long run. But they´re aiming it at people who can´t initially afford a full payment, and fear waiting until the state´s housing market rises still higher.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate
Feedback