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Dear Chuck,

We have been married for seven years and are now ready to buy a home. I know it is a little early, but would you advise us to take advantage of the 50-year mortgage for our first home purchase if it becomes available?

Waiting to Purchase a Home

Dear Waiting to Purchase a Home,

The Trump administration is floating the idea of a 50-year mortgage. It is a very controversial proposal. A quick calculation using current interest rates indicates that the total cost of a $400,000 home would rise to close to $1,000,000 with a 50-year mortgage.

Although that sounds crazy, let’s look at the reasons for the proposal first and then the pros and cons.

Home buying is delayed

The average age of first-time home buyers continues to steadily increase. Realtor.com reports t

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