The Pitch: Affordability at a Glance Federal officials are calling it a “game changer”: a 50-year mortgage backed by the government to make buying a home more “accessible.” Lower monthly payments, easier qualification, and more people in homes—what’s not to love? But behind the marketing lies the ugly math. You’re not saving money. You’re just pushing the burden onto your older self—or your kids. The Numbers Don’t Lie Let’s break this down. Assume a $500,000 mortgage: 30-Year Loan at 6.22%: Monthly payment of $3,068 50-Year Loan at 6.94%: Monthly payment of $2,985 That’s just $83 in savings—for 20 more years of payments. After three decades, the 30-year borrower owns their home. The 50-year borrower? Still owes $387,000. That’s not affordability—it’s…
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