Mortgages to get more expensive fee’s

Chanhassen, MN. Room Addition.

Changes on how loan officers will be paid, along with “Risk-based pricing” will be changing the mortgage industry.

Read about the other changes that will be implemented this year:

  • FHA plans to raise its annual mortgage insurance premiums.
  • Stricter requirements on down payments on new loans and larger equity requirement.
  • The top limit for conforming loans is set to drop to $625,500 from the current limit of $729,750.

“A new federal regulation that restricts how loan officers are compensated might result in higher costs for borrowers.”

See full article: Watch for rising mortgage costs

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Chanhassen, MN. Room Addition.