Refinancing just became more Expensive! Fannie & Freddie announced a 0.5% fee to all refinances. This roughly translates into an average $1,400 added onto the cost of a refinance, but can be higher or lower, depending on the size of the loan. The new charge is likely to go into effect on Sept. 1.
The change is being made by the Federal Housing Finance Agency, which oversees Fannie and Freddie, as a way to ward off potential losses as a result of the pandemic-induced recession.
Take Advantage of our No Obligation Strategy Sessions:
If you are considering to buy, sell, or refinance do not hesitate to call text or DM: 503.847.9038
All 3 guests are NMLS Licensed Mortgage Advisors:
Christian Kemp NMLS 633627
Addison Nett NMLS 1542184
Casey Carpenter NMLS 145813
All 3 Guests work for Finance of America Mortgage:
Additional Company Notes:
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