P
ERRY COUNTY, Ky. (WYMT) – The Trump administration announced a plan to ease home buying by offering 50‑year mortgages. Local real‑estate experts are assessing its impact. Heather Pendergrass Hughes, lead broker at Prime Real Estate Group, examined the proposal for mountain buyers. She used a $450,000 home at 2.65 % interest as a case study. A 30‑year loan would cost about $2,770 per month; the same loan spread over 50 years would drop to $2,450 monthly. While the lower payment seems attractive, Hughes warns that total interest would skyrocket: roughly $560,000 over 30 years versus more than $1 million over 50 years—double the purchase price. She added that if the 50‑year rate rises, the overall cost could double or triple the purchase price. Eastern Kentucky’s current housing shortage, worsened by recent natural disasters, could make the market more volatile if such loans become common. Hughes said buyers should weigh their goals and consider making extra principal payments to shorten the term and save money. Copyright 2025 WYMT. All rights reserved.