Excellent credit and putting more money down will now hurt you with higher rates and fees
New legislation being passed on May 1st for getting a mortgage will
1. Credit score from 680 to 780 will be penalized for having good credit
2. Putting more money down like 15 to 20% will be penalized via higher rates and more fees.
So having excellent credit and putting more money down will hurt you and not help you when it comes to getting a great rate.
tune in and learn more at https://www.ddamortgage.com/blog
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