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Newsfeed: Mortgage fees are changing for homebuyers next month. Here’s what you should know.

Newsfeed: Mortgage fees are changing for homebuyers next month. Here’s what you should know.

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If you’re looking to buy a home, be aware that mortgages will change next month. Starting May 1, upfront fees for loans backed by Fannie Mae and Freddie Mac will be adjusted because of changes in the Loan Level Price Adjustments (LLPAs), the fees that vary from borrower to borrower based on their credit scores, down payments, types of home and more. The changes relate to credit scores and downpayment sizes.

Newsfeed: Mortgage fees are changing for homebuyers next month. Here’s what you should know. Read More »

Newsfeed: It’s bad enough mortgage rates are over 7% – now it’s harder to qualify for a home loan

Newsfeed: It’s bad enough mortgage rates are over 7% – now it’s harder to qualify for a home loan

All Posts, Featured, Newsfeed /

It’s a double whammy for would-be homebuyers. Not only are interest rates soaring, it’s getting harder to qualify for a loan. The average rate on the popular 30-year fixed mortgage climbed over 7% at the end of last week, according to Mortgage News Daily, and is expected to hit around 7.125% on Tuesday. It’s been over 7% for several days.

Newsfeed: It’s bad enough mortgage rates are over 7% – now it’s harder to qualify for a home loan Read More »

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