Fannie Mae Covering Losses

Although it's the time to buy, if you qualify for a Fannie Mae loan, then you'll be paying more in fees according to AOL.com. Fannie Mae in an effort to cover some losses due to the housing downward spiral will be raising its mortgage fees. The increased fees will make it harder on the buyers that have a good credit scores and a good down payments. Why? Because if you roll the fees into your loan instead of paying the extra money, you're going to need to qualify for higher monthly payments. If your credit score is less than 740 and you finance more than 75 percent of the value the house, then expect to pay anywhere from 0.250 percent more up to 3.250 percent more in fees depending on your credit score and your loan to value amount according to AOL Real Estate. It's definitely a buyers’ market and if you're looking to buy in the Jacksonville area, make sure to call the Jacksonville movers to help you. Our expert movers will give you the best in your moving experience. Our local Jacksonville movers are backed by four generations of professional movers, so we've done our share of moving so to speak. Call us today!