Would a 50-year mortgage solve the affordability issue for U.S. homebuyers?
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The Math Behind The 50 Year Mortgage
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The Trump administration is working on a 50-year mortgage option for home buyers. That means Americans would have 20 additional years on top of the traditional 30-year mortgage to pay off that loan. While affordability is the name of the game, CBS MoneyWatch correspondent Kelly O'Grady breaks down the pros and cons of this new option; what it would mean for monthly payments, interest rates and overall interest over the life of the loan. | CBS News
The Trump administration is working on a 50-year mortgage op…
72.6K views6 days ago
FacebookCBS News
The Trump administration is moving forward with a plan to introduce a 50-year mortgage due to a stagnant real estate market despite pushback from real estate experts and some longtime allies. The plan would offer homebuyers lower monthly payments in exchange for a higher total cost on their mortgage. https://abcnews.link/i3bEtuC | ABC News
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White House’s 50-year mortgage proposal has notable benefit but a number of drawbacks
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