A new Biden administration RULE that is set to go into effect will force homeowners with good credit to pay more on their mortgages in order to subsidize loans to high-risk borrowers.
Experts are reporting that the new rule will force borrowers who have a credit score over 680 to pay $40 more every month on a mortgage that is $400,000, however the payments could be higher depending on the size of the mortgage. The new rule comes from the Federal Housing Finance Agency (FHFA) and is set to go into effect on May 1st.
According to a new, insane Biden Admin rule, people with good credit will be assessed higher mortgage rates to subsidize riskier loans to people with lower credit. Homeowners will now be punished for being responsible.
Biden’s attack on success in the name of “equity” continues.
— Charlie Kirk (@charliekirk11) April 21, 2023
Guess what? Americans are ONCE AGAIN flipping the bill to others for un-warranted reasons!
One America News report.