New Tax on Good Credit
You're not going to believe this, there's a new federal rule that is penalizing homebuyers with good credit. This new rule is coming at probably the worst time as home affordability is at an all-time low with higher home prices and higher interest rates This new rule is actually creating an additional burden for homebuyers and is going to price some homebuyers out of the marketplace because this rule could actually affect up to two-thirds of the potential market for new homebuyers.
This fee was designed to help people with lower credit scores purchase homes and get into homeownership, which is a great thing. The problem is, this is not the way to do that. A few ways we can help more people purchase homes is to focus…
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