183 - Home buyers getting punished for good credit scores? Shownotes:
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 4 May 2023
⏱️ 32 minutes
🧾️ Download transcript
Summary
If you haven’t heard, the government is giving people with good credit scores higher interest rates when it comes to getting a home loan. WHAT? Why are they punishing good credit?
Well, as usual, David Sidoni is here to give you the REAL story behind those clickbait headlines, and it’s not quite as bad as it sounds. But, keep listening so you know what’s up and how it affects you.
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Resources:
Setting the Record Straight on Mortgage Pricing - FHFA
Transcript
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| 0:00.0 | So what the f***? Good credit gets punished. My inbox and social media are full of salty language |
| 0:11.0 | from salty people thinking about buying their first home. This is April 2023 and the story broke |
| 0:16.9 | this week that the government is punishing higher credit scores with worse mortgage fees, |
| 0:23.6 | which means worse mortgage rates. So WTF, what is actually going on? There's lots to this story, |
| 0:31.2 | so let's break it down. Play that music before there's a riot. |
| 0:34.4 | Music before there's a riot. |
| 0:51.3 | What is happening? |
| 0:53.8 | How to buy a homies? How's going, everybody? I'm David Sedoni, your host. |
| 0:56.6 | This is the undisputed leading education and advocacy for first-time home buyers. Yeah, |
| 1:03.2 | I'm an educator and an advocateer. Oh, that didn't make sense. But anyway, I had to get in on |
| 1:08.7 | this one. As you know, this information that we give on the podcast here is free to empower you with the knowledge that you need so you can make informed decision. |
| 1:18.3 | And is this episode going to inform you? |
| 1:21.3 | Hell yeah. |
| 1:22.6 | Is it going to make any sense? |
| 1:24.4 | Hell no. |
| 1:25.7 | It's not going to be logical or sometimes not even comprehensible, |
| 1:30.3 | not even close. But that's why I'm here and that's why you guys need to hear this because |
| 1:35.3 | even those of us who understand this crap, those of us in the real estate business, |
| 1:40.2 | we don't even quite get everything there is to get with this one. I will tell you this right from the beginning. |
| 1:45.6 | It's not as awful as it sounds. |
| 1:48.1 | As usual, thank you news people, grabbing a headline, taking the worst part about it, |
| 1:53.6 | and making that the full story. |
... |
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