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News from the Knoff Group

Refinancing – a new fee from Fannie Mae and Freddie Mac

A new -.50 basis point fee was announced this week affecting conventional refinances through Fannie Mae and Freddie Mac loans that close after Sept. 1. For a borrower refinancing a $300,000 loan to take advantage of record-low rates, the move will add $1,500 in new costs. The new fee was announced late Wednesday. Freddie Mac’s …

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Six Points – Mortgage Program Basics

PureWest Christie’s International Real Estate in Bozeman recently held a Mortgage Basics discussion, hosted by Mortgage Broker Sherrie Kitto of Rocky Mountain Bank.  The class reviewed the basics of what programs available on the mortgage market.  As interest rates increase, the variety of loan programs available to buyers becomes more attractive.  Some offer very low …

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