Property is Power! Trump’s 50-Year Mortgage: What It Means for Black Folks

Property is Power!

Trump’s 50-Year Mortgage: What It Means for Black Folks

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I’m sure by now you’ve heard about the talk surrounding the proposed 50-year mortgage an idea gaining traction as a way to increase homeownership for first-time buyers and Gen Y. On the surface, it sounds progressive make monthly payments smaller and open the doors to more homeowners. But when you dig into the numbers, and more importantly, what it means for us in the Black community, the picture changes quickly.

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Let’s get one thing clear, I appreciate the creativity. I like that there’s at least some effort being made to address affordability in today’s housing market. But we can’t confuse access with advantage. Sometimes what looks like an opportunity is actually a trap wrapped in good intention and this 50-year mortgage might be just that.

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Here’s what we’re really talking about:

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15-Year Mortgage – $400,000 @ 5.5%
Monthly payment: $3,263
Total interest paid: $188,300

30-Year Mortgage – $400,000 @ 6.25%
Monthly payment: $2,462
Total interest paid: $486,632

50-Year Mortgage – $400,000 @ 7%
Monthly payment: $2,406
Total interest paid: $1,044,052

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That’s right you save only $56 per month, but you end up paying more than double the total interest, and you’ll still be making payments when your grand children are grown. That’s not progress. That’s debt disguised as affordability. No politics here just good old-fashioned math.

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When we talk about Property is Power,we’re talking about ownership that builds equity, security, and generational wealth. A 50-year mortgage doesn’t build those things it delays them. Black families already lag behind in equity accumulation. According to data from the Federal Reserve, the median white family holds roughly eight times the wealth of the median Black family, and much of that difference is tied to home equity. The longer it takes to pay down principal, the longer it takes to truly own anything.

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In other words, this proposal would stretch the finish line even further for Black families who are already running uphill against systemic barriers, higher interest rates, and less intergenerational support.

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The Illusion of Affordability On paper, a 50-year loan looks like help. But look closer it’s just as maller monthly payment at the cost of your long-term wealth. It’s like trading your inheritance for a discount today. In an economic climate where inflation is high and property values can shift quickly; a loan this long also exposes borrowers to decades of risk. One market downturn could leave many homeowners under water for years owing more than the home is worth. And guess which communities are often hit hardest when that happens? Ours.

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Now, to be fair, I don’t dismiss the spirit behind the idea. America does need to get creative about housing affordability, especially for our young people. But creativity without transformation just recycles old problems in new packaging. We need policies and products that address interest rate disparities for Black borrowers, expand access to down payment assistance, and increase pathways to ownership through education, fair lending, and equitable appraisals.

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Because a longer mortgage isn’t the solution, it’s a stall tactic. It buys time for the system, not opportunity for the people.

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Our movement, Property is Power, is about changing the mindset around ownership. Homeownership isn’t just about getting in the door, it’s about staying in the home, building equity, and creating generational wealth. A 50-year mortgage may look like an invitation to own, but it could quietly become a mechanism that keeps us renting from the bank for life. At the end of the day, the question isn’t just, “Can I buy this home?”
It’s, “Will I ever truly own it?”

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Dr.Anthony O. Kellum – CEO of Kellum Mortgage, LLC

Homeownership Advocate, Speaker, Author

NMLS# 1267030 NMLS #1567030

O:313-263-6388 W: www.KelluMortgage.com.

Property is Power! is a movement to promote home and community ownership. Studies indicate

homeownership leads to higher graduation rates, family wealth, and community involvement.

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