There has been a recent announcement from Fannie Mae that they will be increasing their fees. The upfront fee, which is known as the Loan Level Price Adjustment (LLPA), will have a new structure which will increase by .25%
Couple this with the current fee structure and you could find yourself paying thousands of dollars more!
For example, a home buyer with a 720-739 credit score who borrows $200,000, will face a fee of 1.50% which equates to $3,000. No indication yet, when this will take place, so stay tuned!
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