Texas Home Lending News

Federal Housing Finance Agency announced Adverse Market Fee Removal

July 27th, 2021 9:33 AM by Shawn Smith NMLS#863501

Despite today’s low interest rates and strong home values, some homeowners have delayed refinancing their homes.

If that’s you, then recent industry news gives you another reason to move forward.

The Federal Housing Finance Agency (FHFA) has removed an “adverse market fee” that was previously driving up costs to refinance. Depending on how it was calculated into the loan, it added either about 1/8th percent to the interest rate or an upfront cost of $500 per $100,000 borrowed.

The change has the potential to save homeowners thousands of dollars.

Have you been on the fence about a refinance? Reach out over your preferred channel, and let’s see if this is the right time for you.

Posted by Shawn Smith NMLS#863501 on July 27th, 2021 9:33 AM

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Texas Home Lending News

Federal Housing Finance Agency announced Adverse Market Fee Removal

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