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How a higher credit score could hurt home buyers after federal changes

The Federal Housing Finance Agency has implemented a change to upfront mortgage fees to help buyers limited by income or wealth. This change means that people with higher credit scores will pay more, while those with lower credit scores will pay less. Loan officer Michael Pena says that this fee adjustment generally increases as credit scores decrease for any given level of down-payment. The government wants to clarify that higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less.

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