Trump considering shake-up to housing market by offering 50-year mortgages and not just 30-year terms
Trump mulling 50-year mortgages. Will they be a ‘game changer’ for home buyers?
- The Trump administration is considering introducing a 50-year mortgage option, as announced by Federal Housing Finance Agency Director Bill Pulte.
- This proposal aims to address the high cost of housing and improve affordability, particularly for young people looking to buy homes.
- While a 50-year mortgage would significantly lower monthly payments, it would extend the repayment period by two decades compared to the traditional 30-year term.
- The idea has generated mixed reactions, with some critics, including Republican politicians, expressing concerns about increased long-term debt for homebuyers.
- Conversely, some supporters view the 50-year mortgage as a beneficial, pro-homeowner policy that could help more Americans achieve homeownership amidst rising costs.