Trumps solution to housing affordibility in America
Welcome the FIFTY YEAR MORTGAGE!. As per the example in the clip, it almost doubles your interest bill..😷
[media=https://youtu.be/lqE9f3hi0ao]
[media=https://youtu.be/lqE9f3hi0ao]
70-79, M
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Tastyfrzz · 61-69, M
The monthly payment on a $1 million house with a 10,000-year mortgage at 1% interest would be approximately $833.33. This is calculated by dividing the principal amount ($1,000,000) by the total number of months in the mortgage term (10,000 years x 12 months/year = 120,000 months), which equals $8.33, and then multiplying that by the interest rate (1% or 0.01), which adds another $825 in interest.
Principal and interest: $833.33 + $825 = $1658.33
Total monthly payment: $1658.33
This is a very long loan term, and the total interest paid would be significantly higher than the principal, even with a low interest rate.
Principal and interest: $833.33 + $825 = $1658.33
Total monthly payment: $1658.33
This is a very long loan term, and the total interest paid would be significantly higher than the principal, even with a low interest rate.
whowasthatmaskedman · 70-79, M
@Tastyfrzz Thats exactly the point. Lengthening the term of any loan supercharges the interest you are going to pay over the life of the loan. And one more thing. Lets assume the average home loan is taken out when a person is around 30 years old. Congratulations for continuing work until you are 80!😷
beckyromero · 36-40, F
@whowasthatmaskedman
You are thinking about brand new mortgages for a 30 year old. 🤔
The median age of first-time buyers in the U.S. has risen from 38 last year to 40 in 2025.
A 50-year mortgage for a cash-strapped senior who already has a good deal of equity in their home and who is at near or at retirement age could provide financial relief. It would come at a lower interest rate than a reverse mortgage and may give them the cash they need for at home health care, fixing up the property, pay off high interest credit card rates, buy a new car, etc.
You are thinking about brand new mortgages for a 30 year old. 🤔
The median age of first-time buyers in the U.S. has risen from 38 last year to 40 in 2025.
A 50-year mortgage for a cash-strapped senior who already has a good deal of equity in their home and who is at near or at retirement age could provide financial relief. It would come at a lower interest rate than a reverse mortgage and may give them the cash they need for at home health care, fixing up the property, pay off high interest credit card rates, buy a new car, etc.