The Power of a Big Down Payment

Under new rules, people with a low down payment are going to be given a discount on their mortgage. People who make a high down payment will have to pay extra for the lower interest rate. The Biden administration has turned that on its head and is trying to encourage poor disenfranchised people to go buy homes even though they can't afford them. But here is the unintended consequence that the government doesn't get: People have a choice on their down payment.