Republicans are hating on Trump's 50-year mortgage idea. Here's why some think it will 'ultimately reward the banks'

Core Viewpoint - The proposal for a 50-year mortgage by President Trump, likened to FDR's introduction of the 30-year mortgage, faces significant criticism from various stakeholders, including mortgage brokers, economists, and even members of Trump's own party [1][2]. Group 1: Proposal Details - The 50-year mortgage aims to provide lower monthly payments for homebuyers, but experts warn that it could lead to higher overall costs due to extended payment periods and potentially higher interest rates [3]. - While the 50-year term may reduce monthly payments by a few hundred dollars compared to a standard 30-year loan, it could result in tens of thousands more in interest over time and slower equity accumulation [4]. Group 2: Reactions and Criticism - The proposal has been met with backlash from various political figures, including Republican Congresswoman Marjorie Taylor Greene, who argues that it would ultimately benefit banks and lenders while keeping homeowners in debt for life [5]. - Reports indicate that some White House staffers are attributing the idea to Federal Housing Finance Agency Director Bill Pulte, leading to frustration among business leaders and Trump's allies [5].