50 Year Mortgage

A 50 year mortgage loan can be particularly attractive to homebuyers who are doing what they can to qualify for a more expensive home. If you extend the mortgage out to "fifty years", the monthly housing payment is reduced. As a result, you are eligible to get a higher priced home than you would on a 30 year fixed rate loan.

As it is true with the standard 30-year mortgage that hardly any of the payment goes to the principal so does it apply to a 50-year mortgage but for this higher term mortgage, almost nothing is applied to the principal in the first ten years.

A disadvantage of the 50 year fixed mortgage is that the payment is not lowered all that much and you end up paying a significant amount more in mortgage interest over the term of the loan. Moreover, you do not build up any equity in the initial 10 years. So, if you are an investor it is advantageous and you'll have to count on the local market appreciating.
It is wise to review all of your mortgage choices in the beginning so that you are satisfied with the process and outcome.