Is the Democrats’ law that responsible people must pay more for mortgages the first step in social credit scores?

[Ralph Norton]

I just posted the fee rates. Show me where they are paying more.

 

[OldFlame]

I just posted the fee rates. Show me where they are paying more.

Which fee rates did you post? The one specifically being discussed in this thread?

 

[Lisa558]

All of us with great credit scores with plans to buy a new home in the next year or two should just start defaulting on our financial obligations, and we too can get a discount!

 

[Ralph Norton]

The high risk borrower is paying 250 basis points HIGHER rates. What part are you missing?

But LESS than before while the low risk borrower is paying MORE than before.
Just how stupid and/ or delusional are you?

 

[Curried Goats]

For example, beginning May 1, a buyer with a good credit score of 750 who puts down 25% on a $400,000 home would now pay 0.375% in fees on a 30-year loan, or $1,125, compared to 0.250%, or $750, under the previous fee rules.

Meanwhile, a buyer with a credit score of 650 putting a 25% down payment on a $400,000 home would now pay 1.5% in fees on a 30-year loan, or $4,500. That compares with 2.75%, or $8,250, under the previous rules.

Why having good credit could cost you more on a home mortgage

In some cases, people with better credit scores may pay more in fees, while those with lower credit scores will pay less.

abc7ny.com

So what's your beef? People with better credit scores aren't being charged more than people with worse credit scores. People with worse credit scores are just getting a slightly better deal than they were before. This is fearmongering over nothing.

"The new fees are slightly more expensive for some borrowers with good credit, and slightly less expensive for some borrowers with less-than-perfect credit," Ostrowski told ABC News. If you have a stellar credit score, you'll still pay less than if you have a weak one, but the penalty for having a lower credit score will now be smaller than it was on May 1.

"Because of these changes, the advantage of having a higher credit score, or making a larger down payment, is not as big as it used to be," Hale said.

 

[Curried Goats]

All of us with great credit scores with plans to buy a new home in the next year or two should just start defaulting on our financial obligations, and we too can get a discount!

You should do that. Let your Bingo narrative lead you to do stupid shit in the real world. Way to use that college education Lisa.

 

[M14 Shooter]

The high risk borrower is paying 250 basis points HIGHER rates.

Argument:
Biden's new rule means higher credit score pay higher fees so lower credit scores can pay lower fees

For example, beginning May 1, a buyer with a good credit score of 750 who puts down 25% on a $400,000 home would now pay 0.375% in fees on a 30-year loan, or $1,125, compared to 0.250%, or $750, under the previous fee rules.
0.375% > 0.250% << Increase

Meanwhile, a buyer with a credit score of 650 putting a 25% down payment on a $400,000 home would now pay 1.5% in fees on a 30-year loan, or $4,500. That compares with 2.75%, or $8,250, under the previous rules.
2.75% < 1.5% << Decrease

What part are you missing?

 

[Ralph Norton]

This is fearmongering over nothing.

Says the guy who has never bought a house and with a credit score in the toilet.

 

[Ralph Norton]

Argument:
Biden's new rule means higger credit score pay higher fees so lower credit scores can pay lower fees

For example, beginning May 1, a buyer with a good credit score of 750 who puts down 25% on a $400,000 home would now pay 0.375% in fees on a 30-year loan, or $1,125, compared to 0.250%, or $750, under the previous fee rules.
0.375% > 0.250% << Increase

Meanwhile, a buyer with a credit score of 650 putting a 25% down payment on a $400,000 home would now pay 1.5% in fees on a 30-year loan, or $4,500. That compares with 2.75%, or $8,250, under the previous rules.
2.75% < 1.5% << Decrease

What part are you missing?

He's just pretending to be stupid.
I hope.

 

[M14 Shooter]

He's just pretending to be stupid. I hope.

Historically, its 7:5 pretending.

 

[Curried Goats]

Argument:
Biden's new rule means higer credit score pay higher fees so lower credit scores can pay lower fees

For example, beginning May 1, a buyer with a good credit score of 750 who puts down 25% on a $400,000 home would now pay 0.375% in fees on a 30-year loan, or $1,125, compared to 0.250%, or $750, under the previous fee rules.
0.375% > 0.250% << Increase

Meanwhile, a buyer with a credit score of 650 putting a 25% down payment on a $400,000 home would now pay 1.5% in fees on a 30-year loan, or $4,500. That compares with 2.75%, or $8,250, under the previous rules.
2.75% < 1.5% << Decrease

What part arr you missing?

The part where we're supposed to care that people with good credit will pay slightly more than they did before so that the disadvantaged can pay slightly less than they did before. The people with better credit scores are still paying smaller fees. Might as well cry like a bitch that we have a progressive tax system. Boo fucking hoo you pansies. When did you all become such whiney cucks?

 

[Curried Goats]

Good to know, that makes you an anti-American nut job.

It makes me anti slaver and colonial culture. I'm more than happy to take your country from though and make it my own.

 

[Curried Goats]

Says the guy who has never bought a house and with a credit score in the toilet.

Sure. If we're making up shit to be afraid of why not make up everything.....

 

[Lisa558]

You should do that. Let your Bingo narrative lead you to do stupid shit in the real world. Way to use that college education Lisa.

Well, why should I be penalized by paying my bills on time. I should join the ranks of irresponsible money managers and have my costs lowered.

 

[M14 Shooter]

Well, why should I be penalized by paying my bills on time.

He hates responsible and/or wealthy people.
No, it does not make sense.

 

[Lisa558]

Curried Goats

Why should responsible people have to subsidize irresponsible people? Let the latter improve their credit scores rather than make the better people have to pay more so they can pay less.

 

[Curried Goats]

Well, why should I be penalized by paying my bills on time. I should join the ranks of irresponsible money managers and have my costs lowered.

Because you want a mortgage and that's the rules that were set. Do you think you have a natural right to a particular rate?

 

[Lisa558]

He hates responsible and/or wealthy people.
No, it does not make sense.

Typical leftist: they hate responsible and successful people. Has to do with that “oppressor/oppressed” narrative they’ve been pushing.

 

[jc456]

I’m still trying to figure out the logic here?

 

[Curried Goats]

Typical leftist: they hate responsible and successful people. Has to do with that “oppressor/oppressed” narrative they’ve been pushing.

Typical privileged princess describing a slightly less favorable rate as hating the rich.