Buying Florida
Didier Malagies is a leader in the Tampa Bay Mortgage industry, serving Pinellas, Pasco, Hillsborough counties, and beyond with his sights set on educating residential and commercial buyers regarding Florida purchases. With over 20 years of expertise, Didier has built relationships with realtors, bankers, and clients based on integrity and his drive to provide the best customer experience in the state by being there from beginning to end of every purchase.
Whether you're looking to move, invest, start a business or expand, Didier will share everything you need to know on his show every week.
Didier Malagies nmls#212566/DDA Mortgage nmls#324329
Buying Florida
What would the 50 year amortization mean
✅ the principal you borrowed
✅ all interest paid over the years
❌ It does NOT include taxes, insurance, or HOA unless noted.
Because longer terms spread payments out more slowly, they lower the monthly payment but massively increase total interest paid.
Below is a simple example to show how total payments change by loan term.
✅ Example: $300,000 loan at 6% interest
15-Year Mortgage
Monthly payment: ≈ $2,531
Total paid: ≈ $455,682
Total interest: ≈ $155,682
30-Year Mortgage
Monthly payment: ≈ $1,799
Total paid: ≈ $647,514
Total interest: ≈ $347,514
40-Year Mortgage
Monthly payment: ≈ $1,650
Total paid: ≈ $792,089
Total interest: ≈ $492,089
50-Year Mortgage
Monthly payment: ≈ $1,595
Total paid: ≈ $956,140
Total interest: ≈ $656,140
✅ Summary: Total Payments by Loan Term
Term Monthly Payment Total Paid Over Life Total Interest
15-Year ~$2,531 $455,682 $155,682
30-Year ~$1,799 $647,514 $347,514
40-Year ~$1,650 $792,089 $492,089
50-Year ~$1,595 $956,140 $656,140
✅ Key Takeaway
A longer mortgage = lower payment, but the total paid skyrockets because interest accrues for decades longer.
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didier malagies nmls#212566
dda mortgage nmls#324329