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Topic	Mortgages for homebuyers with good credit will cost more starting May 1st
Norman_Smiley 04/25/23 2:01:39 PM #28:	I asked my realtor about this and he was saying its mostly belong out of proportion. His understanding is this knit applies to FHA loans. Those loans are as low as 3.5% down, require PMI for the life of the loan. Well qualified borrowers already go for conventional loans generally. Some high credit buyers do strategically use FHA loans because of the low down payment. This is really intended to just make the loan either less preferable to those already well qualified borrowers, or to get a bit more out of them. So if you are conventional or VA, ignore it. --- http://i.imgur.com/BVBQC.jpg The big wiggle equals ratings. <cite>Norman_Smiley posted [p:973067909] in Mortgages ... [t:80423166]...</cite> <quote>I asked my realtor about this and he was saying its mostly belong out of proportion.His understanding is this knit applies to FHA loans. Those loans are as low as 3.5% down, require PMI for the life of the loan. Well qualified borrowers already go for conventional loans generally. Some high credit buyers do strategically use FHA loans because of the low down payment. This is really intended to just make the loan either less preferable to those already well qualified borrowers, or to get a bit more out of them.So if you are conventional or VA, ignore it. --- http://i.imgur.com/BVBQC.jpgThe big wiggle equals ratings.</quote> ... Copied to Clipboard!
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