What a Biden Administration Could Mean for Your Loan Portfolio

In This Article

Biden’s inauguration and administration could have a significant impact on your loan portfolio. In fact, the Biden administration could change the mortgage and home buying landscape if his campaign pledges are anything to take seriously.

A Raft of Promises for the Housing Industry

The former vice president in Obama’s administration has promised to introduce a tax credit of up to $15,000 for first-time homebuyers, change some restrictive zoning laws to enhance development, re-arm watchdogs Consumer Financial Protection Bureau, and build millions of affordable home units for Americans.

The recently inaugurated president also promised Americans that he would pump a whopping $640 billion into housing over the next ten years. Thus, ensuring citizens access to affordable, stable, safe, healthy, energy-efficient, and resilient housing. Biden’s other seemingly ambitious promises included the following:

  • Cap payments on both rental and occupied houses
  • Support the construction of up to 2 million affordable housing units
  • Close the homeownership gap
  • Bridge the ever-growing wealth gap

What It Could Mean for Homebuyers and Your Loan Portfolio

Biden enters his term with a very narrow margin in the Senate. Such a scenario would be good news for first-time homebuyers because it would likely prevent overarching new tax laws that could affect investment and impact ownership costs.

If the new president fulfills his promise to inject a massive $640 billion into the housing sector, there would be cheaper, safer, more accessible, resilient, and energy-efficient housing units for the citizens. This would mean that it will be easier to acquire and finance a home unit for Americans in the next ten years.

Will the Democrat president honor his pledge to revamp agencies that fight for the consumers? If yes, then the Consumer Financial Protection Bureau may grow more teeth and prevent sellers from exploiting Americans by hiking home buying prices soon.

And how would Biden’s victory impact your loan portfolio? Even with a narrow margin in the Senate, it may be difficult for his administration to pass new laws. But even with potential congressional roadblocks, the new president could use regulatory bodies, such as the Federal Housing Finance Agency or the Consumer Financial Protection Bureau, to shape the home buying landscape.

How CardTapp App Can Help Your Loan Portfolio

As the country waits to see exactly what a Biden presidency means, it is apparent that home-buying will be more feasible for first-time homebuyers, who are mainly the younger generation enjoying a student loan relief. To tap into this group, you may need some help. That is where our CardTapp app comes in handy.

Trusted by 15,000 professionals, this app isn’t likely to disappoint you. It avails all the premium features you would require in the home buying business. These features include mortgage calculators and other tools that helps professionals engage with prospective homebuyers so you can begin negotiations.

The app also houses your engaging videos and graphics, making the home buying process more fun and easier to understand. This is especially important for the younger generation, which has a high affinity for multi-media consumption.

CardTapp can also streamline your social media sites, providing your contact info so homebuyers can easily find you. The first-time homebuyer credit holders with some student relief will likely want to purchase a home soon. Thus, the first place they will check is your social media sites.  Be sure to optimize these platforms by adding contact information.

As Democrat Joe Biden prepares to assume the White House, there is plenty of good news for the home-buying business. Stakeholders can take advantage of this development to take a prime position for the company. Using our CardTapp app can help you accomplish this feat. If you would like more information, please contact us.

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