Using Denver's median home price of $560,000, a 50-year mortgage would lower monthly payments by $325, but nearly double the amount of interest paid over the lifetime of the loan.

Denver

The Trump administration is seeking to revitalize the historically slow housing market by proposing a 50-year mortgage option. This plan aims to reduce monthly payments for buyers, potentially making homeownership more accessible.

However, experts caution that while monthly payments would decrease, the total interest paid over the life of the loan would nearly double. Additionally, without an increase in housing supply, the move could drive up home prices, offsetting the intended savings for buyers.

Trump admin looks to jump start historically slow housing market

Oh boy, the housing market in quite the slump. Home sales at their lowest level in nearly 30 years. Now the Trump administration wants to change the mortgage market to get you buying again. So instead of the current 30 year mortgage, the administration is working to create a 50 year mortgage that would cut your monthly payments, but it would also drastically increase the amount of interest that you pay over time. So the Federal Housing Finance Agency is calling this a game changer. But one expert tells me that it might not change the game for the better. Any time we subsidize buyers, we give people who are looking for homes more buying power and don't increase the supply of homes for sale, we run the risk of driving home prices up pretty considerably. So if this does what it says it will do and get lots of people off the sidelines and into buying homes, then we can expect home prices to rise and a lot of those savings to evaporate just because of the higher home prices. Well, I hope you've had your morning coffee because we're gonna do a little bit of math. This is how it all stacks up. This is Denver's median home price right there at the top, $560,000. Let's say you put 10% down and then take out a $504,000 loan. Using a 50 year mortgage at current rates, you'd save close to $325 on your monthly payment. Sounds great. It's why this plan sounds so enticing to some, but over the lifetime of the loan, you'd actually play nearly double the amount of interest. Berner told me that this would create equity issues since interest is usually paid heavily on the front end. It would then take even longer for people to start paying down the principal on their homes and own more of it. Now I'm dedicated to covering the economy as well as finances for you. And I wanna hear from you about issues that matter to you. If you have a story idea, just scan the QR code or email me at daniel.grossman at denver7.com.

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New York

ByHeart recalls baby formula amid growing botulism outbreak

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Jerusalem

Middle East Conflict

Israel parliament passes first reading of death penalty for ‘terrorism’ law

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Cebu City

Typhoon Fung-wong leaves Philippines with ten dead, millions displaced

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Sighnaghi Municipality

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Islamabad

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Odesa

Ukraine Invasion

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New Delhi

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Washington

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Belém

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Deadly car explosion rocks India's New Delhi, eight killed

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Paris

Ex-French President Sarkozy released from prison

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Manila

Super Typhoon Fung-wong batters the Philippines

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London

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California

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Kyiv

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Tenerife

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Damascus

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At least 6 people are dead and 750 people injured after a tornado tore through a town in southern Brazil. Rescuers are still searching for survivors from under the remains of homes and businesses hit by the powerful storm.

Rio Bonito do Iguaçu

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Miami

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John F. Kennedy International Airport

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Breakdown