(WTNH) — Changes in the mortgage industry could mean higher costs for homebuyers with a good credit score and lower costs for those with a lower credit score. We’re Stretching Your Dollar with how it’s all because of a new federal rule.

It’s a change many homeowners will find surprising; beginning next week, some people with good credit scores may actually end up paying higher mortgage fees, while those with lower credit scores will pay less.

“Because of these changes, the advantage of having a higher credit score, or making a larger down payment, is not as big as it used to be,” Danielle Hale, chief economist at Realtor.com, said.

It’s a new federal rule going into effect May 1.

“The change that the administration made is meant to make it easier for borrowers who have a lower credit score,” Hale said.

The goal is to boost affordable housing and provide more equitable access to home ownership.

“The administration’s stated purpose behind making these changes is to help make it easier for borrowers who have historically been disadvantaged and have had a hard time accessing credit,” Hale said.

First-time homebuyers with high credit scores — ranking from 720 and 760 to example — could pay more under this new rule.

“They could see an added $2,600 on a mortgage of $350,000,” Hale said. “So it is real money, but not enough to break the bank.”

Critics say the new rule subsidizes homeowners who shouldn’t be getting a mortgage in the first place.

“It’s another subsidy,” former Chrysler chairman Bob Nardelli said.

Experts say the biggest increases could be felt by those who put 15 to 20% down on a home.

“You might choose to put down a somewhat smaller down payment, say 5% instead of 7% and that might make a difference for you,” Hale said.

The new rule also makes it more expensive for borrowers to refinance.