Fox Business host Charles Payne isn’t on board with President Trump’s idea for a 50-year mortgage. On Fox News’s America’s Newsroom, Payne said bluntly, “I do not like this idea,” arguing it’s not the right way to tackle housing affordability.
He explained what the plan would actually mean for homeowners. With a 4 percent interest rate, a 30-year mortgage might run about $2,300 a month, while stretching it to 50 years would drop payments to roughly $1,900. “You’re saving about 500 bucks a month,” Payne said. “But by the time you’re done paying, that 30-year loan costs you $359,000 in interest, while the 50-year costs almost $700,000. That’s a massive difference just to make the monthly payment look smaller.”
Trump floated the idea over the weekend with a Truth Social post showing himself alongside Franklin D. Roosevelt. The graphic labeled Roosevelt with “30-Year Mortgage” and Trump with “50-Year Mortgage,” under the title “Great American Presidents.”
Bill Pulte, Director of the Federal Housing Finance Agency, responded on X, saying, “Thanks to President Trump, we are indeed working on the 50-year mortgage a complete game changer.”
The proposal comes as the cost of living remains a major political issue, especially after Democrats performed well in recent elections by focusing on affordability and everyday expenses.
Still, Payne believes Republicans have a good shot at owning the economic message next year. “I feel really good about the momentum heading into next year,” he said. He pointed to Trump’s “one big, beautiful bill,” a potentially friendlier Federal Reserve, and stronger business incentives to build in the U.S. “I think we’re on the edge of an economic boom,” Payne said, suggesting lower mortgage rates could naturally follow.
His bottom line: “I’d rather see President Trump use that tariff money for something else.”