FHFA reduces loan level prices
The Federal Housing Finance Agency (FHFA) has announced a price adjustment at the loan level.
These adjustments apply to government-backed financial companies that seek to encourage first-time buyers and support low-income people and underserved market groups.
The president of the National Real Estate Association, Leslie Rouda Smith, has expressed her empathy and support for these implemented strategies, which seek in some way to stabilize the strong blow of inflation that today affects the entire sector. real estate.
The NAR has always supported these types of decisions and even more so today when mortgage rates have reached the highest percentages in recent decades. These adjustments in loan prices benefit many buyers who had been left halfway through the purchasing process in recent months.
In 2008, in the middle of the recession, financial companies implemented similar strategies, applying additional charges that were based on loan-to-value ratios, credit ratings and other economic indicators. These charges were passed on to borrowers in the form of higher mortgage rates. In this way, first-time buyers face a lessened financial burden.
Do you want to know how to take advantage of this decision in your favor and buy your own home? Contact us and we will provide you with all the necessary professional advice.