Comment Detail

Comment

Three years ago my husband and I moved to Texas with the intent of spending one year renting and then to purchase a home. But in 2021 the housing market went insane and we could not afford a home. We had good credit and down payment but were consistently getting outbid by people who had enough cash to pay well over market rates for homes. Today we are officially in a new home we just purchased this month. We got in the search early and found a home. Unfortunately we are paying over 7% interest. Why? We have good credit. We have a down payment. We have VA home loan. Why are we paying so much? The federal government with its ridiculous spending has driven the economy into the toilet so that interest rates must be high to stop inflation. Okay. I can live with the pain until inflation is better and we can refinance to get a better interest rate. What I cannot live with is the idea that my mortgage is going to pay for someone else’s house. NO! NO! NO! The fair housing act? Really? How is that fair? My husband and I did the right thing. We watched our credit. We saved. We didn’t buy frivolously. And now we’re going to be punished, fined, for being responsible. I want others, no matter who they are or where they come from, to enjoy home ownership. But it isn’t fair to charge me a fee to pay for them to own a home. Nobody helped pay my rent when it was so high. Nobody is helping me pay 7% interest on my mortgage. And I accept that. But I don’t accept that it’s fair to charge people with good credit a fee to help those with bad credit. If they have bad credit, follow the instructions in the Freddie Mac Home Ownership course and repair your credit, save and then buy a home.