ABA-FHFA Announces Higher Fees For High Balance Loans, Second Home Loans.
ENPNewswire-January 6, 2022--ABA-FHFA Announces Higher Fees For High Balance Loans, Second Home Loans
(C)2022 ENPublishing - http://www.enpublishing.co.uk
Release date- 05012022 - The Federal Housing Finance Agency said today it will increase fees for certain Fannie Mae and Freddie Mac high-balance loans and second home loans starting on April 1.
Fees for high-balance loans will increase between 0.25% and 0.75%, and second home loan fees will rise between 1.125% and 3.875%, with both types tiered by loan-to-value ratio, FHFA said.
The new fees will not be applicable to first time homebuyers in high-cost areas with incomes at or below 100% of area median income, FHFA said. The increased fees will also not be applied to...
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