FRESNO, Calif. (KMPH) — 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.

The prices of homes are on the rise 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.

We know that interest rates have gone up, and we know that the number of houses on the market has gone down, making home ownership not only more difficult but also more difficult to afford," she said.

So, you've heard of a 30-year mortgage. But have you heard of a 40-year mortgage?

Bennitt said the idea is to help people who otherwise couldn't afford the payments by offering smaller payments stretched out over a longer period of time.

It's an opportunity that when someone thought, maybe they couldn't. Maybe they can," she said.

The goal is to lower mortgage payments by $300 to $500.

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."

While 40 years is a long time, Bennitt said since the loan is based on a 10-year call, it's not necessarily written in stone.

"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."

Prices are projected to rise even more, as they are trending up 3.3% year-over-year, according to Realtor.com.

Noble Credit Union said the 40-year term comes with a lower monthly payment but at the cost of a higher interest rate and more paid toward interest over the life of the loan.

In the event of a death, the bank would work with family members to see if they would like to take over payments, sell the home, or pay it off.

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