President Donald Trump’s administration has proposed extending the standard mortgage term from 30 years to 50 years — a move supporters call a “game changer” for housing affordability, while critics warn it could leave Americans paying far more in interest over their lifetimes.
“Thanks to President Trump, we are indeed working on The 50-Year Mortgage, a complete game changer,” Federal Housing Finance Agency Director Bill Pulte wrote on X.
The proposal aims to lower monthly mortgage payments by stretching loans over a longer period, potentially allowing more Americans to qualify for homeownership as prices remain high and interest rates stay elevated.
Mortgage experts caution that longer terms could add significant long-term costs. Charlotte-based broker John Richardson told Mortgage Professional America that “if you borrowed $425,000 at 6.5% over 30 years, you’d pay $542,064 in interest. Over 50 years, you’d pay $1,012,478 — an extra $470,414 just to lower your monthly payment by $290. You’re not saving money; you’re just dragging out the debt.”
Investors have also expressed concern that the new product could increase systemic risk in the housing market. “The viability of a 50-year Agency product will rely on adoption and liquidity in both the primary and secondary markets,” Ellington Management said in a statement.
Reaction among conservatives has been divided. Rep. Marjorie Taylor Greene criticized the plan, writing, “I don’t like 50-year mortgages as the solution to the housing affordability crisis. It will ultimately reward the banks, mortgage lenders, and home builders while people pay far more in interest over time and die before they ever pay off their home. In debt forever, in debt for life.” She urged the administration to focus instead on large corporations and asset managers purchasing single-family homes.
Commentator Laura Loomer mocked the proposal on X, writing, “You know what’s better than a 50-year mortgage? Mass deporting 65 million illegal aliens.”
Others praised the plan as a financial innovation. “The 50-year mortgage is actually brilliant if your IQ is over 120,” Bitcoin investor Adam Livingston posted on X. “Millennials finally get a win, and it’s betting against America’s ability to do math.”
In a related move, Fannie Mae announced it will remove the minimum credit-score requirement for new loans processed through its Desktop Underwriter system, according to Housing Wire. The current 620 minimum median score will no longer apply to new loan files created after November 16.
Both measures reflect a broader effort by the Trump administration to expand access to homeownership, though critics warn the changes may carry long-term financial risks for borrowers.