Struggling to buy a home? A new 40-year mortgage might help

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For those who think they might not be able to buy a home in the current economy, you might be able to afford one now.

in Fresno County, California, up 45% in just the last four years, according to Keri Bennitt, the vice president of marketing with Noble Credit Union.

If someone just really has is struggling with trying to make a mortgage payment or wanting to buy a home and just really can't afford it regardless of their age, regardless of their financial situation, you know, we're not angling it any particular way," said Bennitt. "We just want to make it available."

"At the end of that 10 years, they have the ability to pay it in full or refinance it," she said. "It helps with affording a home because right now, with the rate, the prices of homes being somewhere between $420,000 upwards of $700,000."

 

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