Yep, that is right! Some lenders for conventional mortgages, so 80% loan to value or less, are offering the higher amortizations! Some with out an appraisal cost as well. This is good news for some first time home buyers with cash to put down, but they would prefer lower payments, or maybe this is an investment property for a seasoned buyer that would want to take advantage of the lower payments!
For the insured mortgages, the 30 year amortization is now the norm... but having this option if you want to have more down, or have more equity, is a nice silver lining that is staying around I think for awhile. With rates going up again and the housing marked really picking up steam, options are always a good thing!
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