Higher mortgage fees for buyers with high credit scores? Charlotte lender weighs in on new rule

Are higher mortgage fees incoming for buyers with high credit scores? A new rule is sparking debate among lenders, including one from Charlotte. The Federal Housing Finance Agency (FHFA) proposed a new fee structure for lenders that would charge higher fees to buyers with higher credit scores and lower down payments. The reasoning behind the proposal is to balance out the costs of riskier loans for borrowers with lower credit scores. But the move is not without controversy. Some lenders argue that buyers with high credit scores should not be penalized, while others believe that this rule will ultimately hurt borrowers with low down payments. While the proposal is still in its early stages, it’s worth keeping an eye on how it develops and how it could impact potential homebuyers.