Need a home mortgage? Here’s how climate change could hit your credit score

by anastasiakaufman-chime-me

Published Mon, May 19 20251:15 PM EDT

By: Diana Olick

A real estate sign stands in front of a burnt property, following the Palisades Fire at the Pacific Palisades neighborhood in Los Angeles, California, U.S. January 13, 2025. REUTERS/Mike Blake
A real estate sign stands in front of a burnt property, following the Palisades Fire at the Pacific Palisades neighborhood in Los Angeles, California, U.S. Jan. 13, 2025. Mike Blake | Reuters

Anyone shopping for a mortgage knows how far into your finances lenders like to dive in order to determine your credit-worthiness. But here’s a new factor: climate change.

Given how quickly climate disasters are increasing, both in frequency and in resulting costs, lenders are paying far more attention now to how those costs could hit them. Insurers are also struggling to keep up and more often pulling out of the most risk-prone areas, making the losses even steeper. Add to that, FEMA is in a state of flux under the Trump administration, with both cuts to staff and potential disaster funding. LEARN MORE…

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Anastasia Kaufman, GRI,ABR,SFR,CDPE,SRS

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Email: Anastasia@anastasiakaufman.com

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