Updated over 5 years ago on . Most recent reply
Are 40 year Mortgages still in compliance with Dodd Frank?
Are 40 year Mortgages still in compliance with Dood Frank? I had a realtor contact me today in hopes that I could owner finance one of our properties to one of their clients. Their realtor was suggesting doing it on a 40 year note/term in order to keep the persons payment within a certain price range. I was under the impression that the loan would need to be fully amortized in 30 years or less.However I’ve seen some loan modifications that was 40 years and these were government back loans. Does anybody have insight? Any loan originators in the house?