Posted on: 01st May, 2009 10:11 am
Can you get a 40 year loan with fha. I'm only 29 years old and I have three kids.Need a bigger home with low monthly payments :? .
FHA does not currently offer loan terms above 30 years. If you qualify for a conventional loan you then may get a 40 year term. I hope this helps...
Many of the 40 yr programs have interest rates that are significantly higher than the 30 yr rate. So, the anticipated monthly cash flow savings is not what you would think.
