Changes to Conventional Loan Costs – March 2023
March 10, 2023
By Elena Garrett
Starting in April 2023, it may cost many home loan borrowers even more money to use conventional loans.
Elena and Melissa Condensa from Guild Mortgage discuss the changes and what they mean for people’s home-buying plans in 2023.
A short overview of the discussion:
- For borrowers with credit scores below 780, the cost the monthly payment will go up due to a higher interest rate
- For borrowers with higher debt-to-income, the monthly payment will go up due to a higher interest rate
- Elena and Melissa discuss the potential monthly payment outcomes for various scenarios
- Workarounds for borrowers to avoid higher costs of mortgage
Melissa’s contact information is in the video. Reach out to her with any questions.