New Tax on Mortgage Refinances from the FHFA James Graff 732 500 MUTE Advisors Mortgage Group, L.L.C. NMLS#33041

I’ve got some good news and I’ve got some bad news.  Here’s the bad news first…

The Federal Housing Finance Agency just announced a surprise fee on all new refinance transactions that are sold to Fannie Mae and Freddie Mac, which make up approximately two thirds of all loans.  The fee will be assessed, regardless of the bank or mortgage company you choose to work with.  This will result in a small increase to the interest rate that would have normally been available.  

Now for some good news… 

Interest Rates are currently at extraordinarily low levels.  And refinancing may still be a very smart financial move, which can save you money every month or reduce the amount of years remaining on your mortgage.  You may also be able to consolidate your debts to save even more money.  

Let’s take a look at your unique situation to see if you can benefit from this opportunity.  Call me, James Graff, your mortgage professional.