"Are Borrowers With Good Credit Being Penalized"
Channel: Millennium Mortgage Group
Date: 2023-05-06

There's been a lot of confusion around loan level pricing adjustments (LLPAs) and the recent changes coming into effect on May 1st. LLPAs have always been in place to adjust the cost of a loan based on factors like credit score, down payment, and debt-to-income ratios. The recent changes aim to reduce the gap between higher and lower FICO score borrowers, making buying a home more affordable for everyone. These changes won't penalize good credit borrowers, and first-time homebuyers are exempt. If you have questions about home financing or want to map out a game plan for buying a home, call our office to speak with one of our experienced mortgage professionals. We'll help you achieve your goals. 

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