Fannie Mae and Freddie Mac Boost Mortgage Costs
Due to the market situation Fannie Mae and Freddie Mac are raising fees based on risk. Credit scores and borrowing more than 70 percent of the homes value will incure these new fees. I am posting a small portion of the article, but the whole article is worth a read.
By Holden Lewis • Bankrate.com
Many borrowers will be socked with a fee that amounts to $250 for every $100,000 borrowed, just because the mortgage market has gone so bad. Other customers will take bigger hits because their credit scores are lower than 680 and they're borrowing more than 70 percent of the home's value. More...
By Holden Lewis • Bankrate.com
Many borrowers will be socked with a fee that amounts to $250 for every $100,000 borrowed, just because the mortgage market has gone so bad. Other customers will take bigger hits because their credit scores are lower than 680 and they're borrowing more than 70 percent of the home's value. More...
Comments