Two new policies—one at the federal level and one here in Nashville—have recently been implemented that could have a positive impact on homebuyers and help make housing more affordable.
While no single policy can fully solve the affordability crisis, as REALTORS® and advocates for expanded access to housing, we welcome any effort that moves us in the right direction.
At the federal level, the Federal Housing Finance Agency (FHFA) recently announced that Fannie Mae and Freddie Mac will now allow mortgage lenders to use VantageScore credit ratings—either alongside or in place of traditional FICO scores—when assessing borrower creditworthiness.
Previously, lenders could only use FICO, which primarily evaluates a borrower's credit card and loan history. The FHFA’s “lender choice” approach aims to introduce more robust competition in credit scoring. FHFA Director Bill Pulte noted that this policy shift should help consumers and lenders benefit from lower closing costs and greater access to credit.
Closer to home, Metro Councilmember Rollin Horton sponsored legislation that passed on third and final reading last month, reducing the requirement for two stairwells to just one in certain multifamily developments. This change allows developers to allocate more square footage to living space—without increasing the overall building footprint.
Homebuilders have praised the move as a cost-saving measure that could translate into lower prices for consumers. Councilmember Horton told Axios that the change will reduce the cost of building family-sized apartments and condos, helping Nashville better meet the housing needs of its middle-class residents.
Together, these policies represent steps in the right direction. They reflect the impact of forward-thinking housing policy—and the power of advocacy to deliver meaningful change.
That’s why advocacy remains a cornerstone of the REALTOR® profession. From City Hall to Capitol Hill, REALTORS® are working every day to support policies that expand housing options, reduce barriers to homeownership, and build stronger, more inclusive communities. These recent wins are just the beginning—and we’ll continue pushing for solutions that make homeownership more attainable for everyone.
