How Biden's New Mortgage Rule Could Affect Homebuyers

See the video version here which will show the visuals and charts: https://youtu.be/0H9gwJJUY-g Here are some details on this potentially controversial system of assessing fees on borrowers with higher credit scores. The rule, which was finalized in March, will require lenders to consider more factors when making mortgage decisions, such as a borrower's debt-to-income ratio and employment history. This could make it more difficult for some borrowers to qualify for a mortgage, but it could also help to reduce the risk of default for lenders. The new rule is a complex issue, and there are a variety of opinions about its impact. It is important to do your research and understand the implications of the rule before you apply for a mortgage. If you have any questions about the new rule, or if you want to see how it may affect your borrowing power, give us a call! (808) 913-0899 #thehawaiiteam #mortgages #realestate