New Fannie Mae add ons coming soon

Since the market still thinks that mortgage loans are still risky and buyers of loans are not buying so Fannie Mae is adding the following price increases to a loan near you:<br /><br />Condo and co-op mortgages over 75% LTV – add 0.750 percent to fee; <br />Interest only mortgages – add 0.250 percent to fee for ARMs, 0.750 for fixed rate; <br />Mortgages under 75% LTV with subordinate financing – add up to 0.500 percent to fee. <br /><br />The loan fees don’t have to be paid in the form of cash due at closing, but instead can be financed in the mortgage rate at roughly .25% for every 1 point in fee.

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