Homebuyers with credit scores of 680 or HIGHER will pay, for example, about $40 per month more on a home loan of $400,000. Homebuyers who make down payments of 15% to 20% will get socked with the largest fees, to SUBSIDIZE people with RISKIER credit ratings who are also in the market to buy houses.

Lenders and real estate agents say the changes will frustrate homebuyers with high credit scores and homeowners seeking to refinance because the rule PUNISHES homeowners and buyers for their relatively strong financial positions.

ACT NOW! The fee changes will go into effect on May 1, 2023, as part of the Federal Housing Finance Agency’s push for affordable housing.

Learn more here:

How the US is subsidizing high-risk homebuyers at the cost of those with good credit