Longer loans would make housing more affordable

Mar 25, 2022
Mar 25, 2022 Updated Apr 13, 2025
2

Editor,

I wholeheartedly agree with the March 19-20 letter “Affordable housing” written by Tim Donnelly.

(2) comments

Eaadams Mar 25, 2022 7:52am

I went to buy a car. They wanted to know what payment I wanted to make. Then the cost of the car became more and I made a lot more payments. The average person can't afford a home until I to their 30's. A 40+ year loan puts payoff after 70. Is that the future we want?

Terence Y Mar 26, 2022 12:18pm

Ms. Levine, there are lenders who currently offer 40 and 50 year mortgages. As long as you get through the underwriting process, lenders are happy to front the money. Be sure to get in now, as interest rates are likely to increase due to Biden-flation.

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