Biden Administration Penalizes Good-Credit Homebuyers to Subsidize High-Risk Mortgages
TL;DR
The Biden Administration will increase payments for good-credit homebuyers to subsidize high-risk mortgages, as part of its push for affordable housing. Borrowers with a credit score of about 680 will pay around $40 more per month on a $400,000 mortgage under rules from the Federal Housing Finance Agency, which will go into effect on May 1.
Topics:businessfinance#affordable-housing#biden-administration#credit-scores#federal-housing-finance-agency#finance#mortgages
- Biden Administration to hike payments for good-credit homebuyers to subsidize high-risk mortgages KVLY
- Biden Raises Costs for Homebuyers With Good Credit to Help Risky Borrowers Newsweek
- High Credit Score Borrowers Penalized Under New Federal Mortgage Fee Plan Reason
- TUCKER CARLSON: The Biden admin's new rule will punish people with high credit scores Fox News
- Upside Down Mortgage Policy - WSJ The Wall Street Journal
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