FHFA Raises Fees on High-Balance Second-Home Loans

FHFA Raises Fees on High-Balance Second-Home Loans

The Federal Housing Finance Agency announced it would be increasing upfront fees on second-home mortgages and on mortgages that finance homes with balances that exceed standard conforming loan limits. The fees are expected to increase the purchase cost of second homes and homes in high-cost areas.

The new fees from Fannie Mae and Freddie Mac will take effect on April 1.