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Mortgage 850 program pitches state support to boost homebuyer purchasing power
Summary
Preston Cochran and partners asked the committee to fund Mortgage 850, an online homebuyer readiness tool they say can raise family purchasing power 10–20% by improving credit readiness; the RFA would primarily offset users’ costs to pull credit reports so lower-income buyers can access the platform.
Representative Ariel Defay introduced Mortgage 850 as a tool to improve homebuyer readiness. Preston Cochran, who said he chairs the Family Financial Education Foundation, described Mortgage 850 as an online platform providing targeted credit guidance before a mortgage application is submitted. He said a 2025 review of more than 1,000 mortgages found nearly…
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