PORT ST. LUCIE, Fla. — This week the Federal Housing Administration gave the OK to 40-year mortgages. It’s a move designed to try and make it easier for first-time home buyers.
“If it helps people get into a house, it’s a good thing,” Sonsire Gonzalez, a real estate agent in Port St Lucie, said.
The idea is to reduce monthly mortgage payments, which have been rising as mortgage rates go up.
www.wptv.com/money/real-estate-news/federal-housing-administration-greenlights-40-year-mortgages
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