How to Spend a Million on a $400K Home: 50-Year Mortgage Math

A proposed 50-year mortgage would lower monthly payments but drastically increase total costs, potentially exceeding $1.3 million on a $400,000 loan. Such loans build equity slowly, increasing risks if home values drop. While intended to improve affordability, longer terms may boost demand and home prices without increasing supply. Most U.S. mortgages are 30-year loans, balancing manageable payments and total cost.