Lower Loan Costs for First-Time Homebuyers!!!
FHFA cuts upfront mortgage fees for about 1 in 5 home buyers! First-time home buyers are about to see lower loan costs...
Beginning December 1st, The Federal Housing Finance Agency (FHFA) is eliminating fees on mortgages for about 20% of home buyers. It’s a move that could lower rates and boost affordability for many Americans. There are four groups of home buyers that will see their upfront loan fees — also called guarantee fees or “G-fees” — eliminated when using conventional loans backed by Fannie Mae or Freddie Mac.
In this video I talk about these new changes, how they work, and who can qualify which could potentially reduce your interest rate by up to 1.75%!!! This is a big deal for first time homebuyers who have been crushed by high home prices and high rates - making affordability for many of them a MAJOR issue. If you were getting quoted a 7% rate a few weeks ago, you could very likely see a 6 or even 5.5% rate as a result of these changes.
Beginning December 1st, The Federal Housing Finance Agency (FHFA) is eliminating fees on mortgages for about 20% of home buyers. It’s a move that could lower rates and boost affordability for many Americans. There are four groups of home buyers that will see their upfront loan fees — also called guarantee fees or “G-fees” — eliminated when using conventional loans backed by Fannie Mae or Freddie Mac.
In this video I talk about these new changes, how they work, and who can qualify which could potentially reduce your interest rate by up to 1.75%!!! This is a big deal for first time homebuyers who have been crushed by high home prices and high rates - making affordability for many of them a MAJOR issue. If you were getting quoted a 7% rate a few weeks ago, you could very likely see a 6 or even 5.5% rate as a result of these changes.