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Increase in DTI Fees Dropped!

Increase in DTI Fees Dropped!

CategoriesNews & Awards

Rebecca Squyres

May 11, 2023

Great news! The cancellation of proposed Debt-to-Income (DTI) related Loan Level Pricing Adjustments have been dropped by the Federal Housing Finance Agency (FHFA).

These fees would have impacted borrowers who spend more than 40% of their gross monthly income towards debt obligations, causing them to pay for more their mortgage. This was presented by the FHFA earlier this year, postponed and ultimately cancelled.

This is great news for borrowers and lenders. 

Wondering if now’s the right time to buy, build, renovate or refinance? Our award-winning team can help you today!

Get Started with GMFS Mortgage

Read the full FHFA announcement here: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Rescission-of-Enterprise-Upfront-Fees-Based-on-Debt-To-Income-Ratio.aspx

 

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