11/13/2025
In reference to the 50-year home mortgage idea, the way I see it as a personal financial expert having worked in my own financial services business helping people build wealth, and helping them put their financial house in order since 1984. Not only that, but as an employer, I’ve also hired hundreds of people without them having to leave their current employment so they could build their own financial independence with that extra income.
So, back to the 50-year mortgage idea being tossed around by President Trump, there are pros and cons. It may work for some and not for others. However, if one qualifies and is in a position to afford a 50-year mortgage, it would work financially IF when interest rates eventually go down by at least two points, the mortgage is refinanced at a lower rate and for a less period of time. Do that every time interest goes down and one would be able to pay the mortgage sooner. On top of that strategy, another option to add, can be to pay it biweekly rather than monthly or making an extra payment towards the principal, each year, if possible; that also reduces the number of years left to pay and reduces the interest significantly. Two income families would do better and adding a part time job even better to qualify for this type of loan.
Additionally, property taxes and homeowners; fire; flood insurance (if in a flood zone) should also be considered as added costs.
Supply and demand also play a role in the home prices so building more homes would help lower the costs and increase affordability.
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