The Maine Wire
  • News
  • Commentary
  • The Blog
  • About
    • Contact
  • Investigations
    • Data
Facebook Twitter Instagram
Trending News
  • Tokin’ for the Town: Dem Lawmaker Wants to Allow Maine Municipalities to Tax Adult Use Cannabis to Help Pay for Local Expenses
  • Democrats Opposed to Immigration Enforcement Put Forward Bill to Stop Local Police from Aiding Feds
  • Worcester City Councilor Assaults ICE Officers in Attempt to Prevent Arrest of an Illegal Immigrant Who Assaulted a Pregnant Woman
  • New York Times’ Political Reporter Begs Reddit for Sob Stories About Trump’s Funding Cuts Harming Maine
  • Homeless Man Charged with Arson for Fire that Caused $20,000 in Damage to Bangor Building
  • Chinese Company, Nationals Indicted for Smuggling Pill-Making Equipment into US: DOJ
  • NH High-School Coach Arrested in Maine for Trying to Buy Sex from a 14-Year-Old
  • Dexter Group Gets Enough Signatures for June Ballot Question Calling for the Removal of Two School Board Members Who Say They’re Being Targeted
Facebook Twitter Instagram
The Maine Wire
Tuesday, May 13
  • News
  • Commentary
  • The Blog
  • About
    • Contact
  • Investigations
    • Data
The Maine Wire
Home » News » News » Biden Rule Will Tax Home Buyers With Good Credit to Lower Costs For Those With Bad Credit
News

Biden Rule Will Tax Home Buyers With Good Credit to Lower Costs For Those With Bad Credit

Steve RobinsonBy Steve RobinsonApril 20, 2023Updated:April 21, 202315 Comments2 Mins Read4K Views
Facebook Twitter Email LinkedIn Reddit
Share
Facebook Twitter LinkedIn Email

If you have a good credit score and are looking to buy a home, you may be required to pay more to subsidize other home buyers who have bad credit thanks to a new rule from the Biden Administration.

Starting May 1, a new federal rule will force homebuyers with good credit scores to pay higher mortgage rates and fees to subsidize those with riskier credit ratings who are also buying houses.

The Federal Housing Finance Agency’s push for affordable housing has led to the introduction of loan-level price adjustments (LLPAs) that will be enacted by Fannie Mae and Freddie Mac, affecting mortgages originating at private banks across the US.

Homebuyers with credit scores of 680 or higher will pay around $40 more per month on a $400,000 home loan. Homebuyers who make down payments of 15% to 20% will face the largest fees. The new fees will only apply to Americans buying houses or refinancing after May 1.

The Washington Times was the first to report on the new rule.

The new FHFA rule inverts the typical use of credit scores in free market economies.

Traditionally, those with better credit scores could expect to pay less for debt because financial institutions consider lending to them less risky.

For those looking for more information on the topic, here are the new schedules for mortgage rates and costs based on credit scores.

Here’s the old schedule:

LLPA-Matrix-effective-until-5-1-23Download

Here’s the new schedule:

LLPA-Matrix-updated-03-22-23Download
Previous ArticleWatch: Maine State Police Brief Media on Bowdoin Shooting and Suspect Joseph Eaton
Next Article CDC Director Walensky Says Vaccines Don’t Stop Transmission. Why Does Maine Still Mandate the Shot for Healthcare Workers?
Steve Robinson
  • Twitter

Steve Robinson is the Editor-in-Chief of The Maine Wire. ‪He can be reached by email at Robinson@TheMaineWire.com.

Related Posts

Tokin’ for the Town: Dem Lawmaker Wants to Allow Maine Municipalities to Tax Adult Use Cannabis to Help Pay for Local Expenses

May 13, 2025

Democrats Opposed to Immigration Enforcement Put Forward Bill to Stop Local Police from Aiding Feds

May 13, 2025

Worcester City Councilor Assaults ICE Officers in Attempt to Prevent Arrest of an Illegal Immigrant Who Assaulted a Pregnant Woman

May 13, 2025

<span class="dsq-postid" data-dsqidentifier="19037 https://www.themainewire.com/?p=19037">15 Comments

  1. ダッチワイフ on May 24, 2023 6:53 AM

    This article provides clear idea in favor of the new users of blogging, that actually how to do blogging.

  2. get better at snooker on May 26, 2023 10:59 PM

    I savor, lead to I found exactly what I used to be looking for.

    You have ended my 4 day lengthy hunt! God Bless you man. Have a great day.
    Bye

    my page get better at snooker

  3. Lily on May 27, 2023 6:44 AM

    I real glad to find this website on bing, just what
    I was searching for 😀 bessides saved to bookmarks.

    Also visit my webpage pro billiards tips (Lily)

  4. Hilario on May 27, 2023 6:11 PM

    Spot on with this write-up, I seriously think thiis
    web site needs far more attention. I?ll probably be back again to read more, thanks for the information!

    my page … collegiate game room (Hilario)

  5. pool cues on May 28, 2023 4:37 AM

    Yes! Finally something about 8-ball billiards.

    my wsbpage pool cues

  6. Mckenzie on May 28, 2023 12:13 PM

    I am glad to be a visitant of this complete website, regards for this
    rare info!

    Take a look at my web-site minnesota fats pool table – Mckenzie,

  7. Mack on May 28, 2023 2:12 PM

    I’ve been absent for some time, but nnow I remember whyy I used too ove this website.
    Thank you, I will try and check back more often. How frequently you update
    your web site?

    Visit my blog :: board game – Mack –

  8. Eusebia on May 28, 2023 3:24 PM

    I need tօ to thank yоu for thiѕ fantastic reaɗ!! I
    absolutely enjoyed eᴠery bіt of іt. I’ve got
    yоu saved ɑs a favorite to check out neᴡ tһings you post…

    Ηere is my рage; lotto, Eusebia,

  9. Kina on May 28, 2023 4:48 PM

    Goood post. I’m dealing with a few of these issues as well..

    Look into my web page: cue tips (Kina)

  10. Billiards on May 28, 2023 5:49 PM

    This excellent website really has all of the info I wanted
    about this subject and didn?t know who to ask.

    my web page … Billiards

  11. Paul on May 29, 2023 2:18 AM

    Ater looking at a number of thee articles on your website,
    I really appreciate your way off blogging. I saved it to my bookmark website list and will be checking back
    soon. Take a look at my web site too and let me knw your opinion.

    Look at my web-site; table tennis conversion (Paul)

  12. Armando on May 29, 2023 9:09 AM

    This is a very good tip particularly to those new to the blogosphere.
    Brief but very precise info? Thank you ffor sharing this one.
    A must read article!

    Feel free to surf to my website – home renovations tips [Armando]

  13. pool sharking on May 29, 2023 2:27 PM

    You goot a very wonderful website, Gladiola I noticed it through yahoo.

    Also visit my webpage: pool sharking

  14. Charla on May 29, 2023 8:12 PM

    This info is worth everyone’s attention. Where can I
    find out more?

    Feel free to visit my site … denver billiards, Charla,

  15. Fran on May 29, 2023 8:13 PM

    Thaank you for the gold writeup. It in fact was a amusement account it.

    Look advanced to more added agreeable from you!
    By the way, how could we communicate?

    My blog; pool supplies (Fran)

Leave A Reply

Recent News

Tokin’ for the Town: Dem Lawmaker Wants to Allow Maine Municipalities to Tax Adult Use Cannabis to Help Pay for Local Expenses

May 13, 2025

Democrats Opposed to Immigration Enforcement Put Forward Bill to Stop Local Police from Aiding Feds

May 13, 2025

Worcester City Councilor Assaults ICE Officers in Attempt to Prevent Arrest of an Illegal Immigrant Who Assaulted a Pregnant Woman

May 13, 2025

Homeless Man Charged with Arson for Fire that Caused $20,000 in Damage to Bangor Building

May 13, 2025

Chinese Company, Nationals Indicted for Smuggling Pill-Making Equipment into US: DOJ

May 13, 2025
Newsletter

News

  • News
  • Campaigns & Elections
  • Opinion & Commentary
  • Media Watch
  • Education
  • Media

Maine Wire

  • About the Maine Wire
  • Advertising
  • Contact Us
  • Submit Commentary
  • Complaints
  • Maine Policy Institute

Resources

  • Maine Legislature
  • Legislation Finder
  • Get the Newsletter
  • Maine Wire TV

Facebook Twitter Instagram Steam RSS
  • Post Office Box 7829, Portland, Maine 04112

Type above and press Enter to search. Press Esc to cancel.