Refinancing just became more Expensive... Starting Today!

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Aug 15 2020 23 mins  

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.

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Additional Notes:

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:

© Finance of America Mortgage LLC is licensed nationwide |  | NMLS ID #1071