01/14/2026
Did you know that before the 1930s, buying a home was a total nail-biter? Most loans were only for 3–5 years, and you had to pay the entire balance at the end in one massive "balloon payment."
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That all changed with the New Deal! To help Americans during the Great Depression, the government stepped in. The 30-year fixed-rate mortgage was officially authorized by Congress for new homes in 1948 and for existing homes in 1954.
It literally paved the way for the "American Dream" by making monthly payments actually affordable. 🇺🇸✨
Comment below on your thoughts. 👇