Fannie and Freddie Plan Fee Increases

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On April 1st, Fannie Mae and Freddie Mac are increasing down-payment rules.

The upcoming changes are as follows:

  • Condo buyers with down payments of less than 25 percent will be charged a three-quarter point add-on penalty regardless of their credit score
  • Buyers of  multi family units, where one unit is owner-occupied and the other is rented, will be charged a 1 percent add-on
  • Refinancers who take cash out will be charged as much as three points if they have a low to moderate equity stake
Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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