New Rule for Affordable Housing and Mortgage Rates: What You Need to Know

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immigrants, instead of usingother types of monitors.Paulina: if any of youAre you thinking of buying one?home, pay close attention.a new rule ofbiden administration intendsboost affordable housingand provide easier accessequitable to the properties.sounds good, but there is a but.borja: this is itcontroversial, could increasepayment to peoplehave a good track recordcredit.as they hear it, andrea lon usandrea: if you’re lookingbuy a house, keep in mindthat the mortgages are readyto change.As of May 1, theloan rates arewill fit, and in some cases,people with a score oflet’s go, they couldfinish paying ace.while people withlower credit score,they will pay less.all the people who havecredit above 680points, and go to acquire a$400,000 property orgo refinanceI tend to pay a fide of 40$ to be able to counterto riskier customers.andrea: the change of theadministracón biden ésádesigned to facilitate the purchaseof real estate toborrowers who have anew rule subsidizesowners who shouldn’tbe eligible for amortgage, expert people, yesyou have a credit scorehigh, you will still pay less than ifyou have a low one, however,the sancón for having a scorelower credit, now besmaller.For example, if you have ascore of 659,and you borrow 65%,you will pay an equivalent feeal 1,5%.before these changes you hadpaid 2.75%.on the other hand, if you have acredit score of 740 orás, you had paid a fee75% of the value of the house.now you could pay up to0,37%.experts say thehigher increases couldfeel those who contributebetween 15 and 20% of the paymentinitial at time of purchasea property.in that case they say it would bebetter to contribute for example only5% of the value of theproperty, and thus reduce aLittle that fee, guys.Pauline: what do we tell you?borja: so long thatcedito, and now it will be to the reés.paulina: it’s a line lefteffort, spend, spend, whatthe rest will help me pay