Amid a nationwide housing crisis, President Donald Trump has suggested a 50-year mortgage as a way to make homeownership more affordable.

Federal Housing Finance Agency director Bill Pulte, who oversees Fannie Mae and Freddie Mac, said they were “working on it,” and that it would be “a complete game-changer.”

However, financial experts are warning that it could leave Americans in significant financial trouble in the long term.

Why It Matters

Longer-term mortgages can dramatically lower the monthly payment for homeowners, allowing more Americans to afford the cost of buying their own home.

What To Know

A 50-year mortgage could shift monthly payments to $1,823 based on the median sale price of a home from September, $415,200, compared to a 30-year fixed loan, according to CNBC. Ba

See Full Page