The TRUTH Behind Biden Administration Mortgage Changes | Hot Sheet 04/20/23
BAM Hot Sheet
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The New Rate Adjustments for Low Income Low Down Payments
Lenders are not going to increase Rates as much as we did in the past because there's going to be a cap on these adjusters on people with low credit and a low down payment. The new policies will reduce the cost incurred for having a lower Credit score they will still be a discrepancy between lower credit and higher credit scores Just not quite so punishing of one so lower credit at a much higher Adjustment that's why when you talk to a lender when somebody reaches out to a lender they say hey, what's the rates today? Well, it depends what's your income? What's your credit score?"
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