Earlier this week, bipartisan legislation (H.R. 2162) was introduced to discount FHA premiums for first-time homeowners. This makes still more interesting a blog post series from the Federal Reserve Bank of New York pondering the challenges facing first-time homeowners and how hard it is even to define them. With two of the posts now in hand, we learn that figuring out who’s a first-time homebuyer won’t be all that easy. We also see that those who qualify for mortgages aren’t materially different in terms of credit scores or debt burden.
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