Morrison Residential LLC
Phoenix Mortgage Fees Rising Again
January 26, 2011 by Chris Morrison · Leave a Comment
Some lenders already are charging borrowers higher “loan-level price adjustments” that take effect April 1 for mortgages delivered to Fannie Mae. The fees will not affect borrowers with FICO scores above 740 and loan-to-value ratios of 75 percent or less; otherwise, though, the costs could as much as double in some cases.
Given that home prices likely will not rise for some time, experts say buyers have time to improve their credit scores to benefit from better risk-based pricing.
Given that home prices likely will not rise for some time, experts say buyers have time to improve their credit scores to benefit from better risk-based pricing.
Posted on Phoenix Homes For Sale | Phoenix Real Estate | Morrison Residential LLC
