03/03/2022
A reminder of new fees for high-balance and second home loans starting April 1st. As we are in the area of hight cost housing market, this will affect buyers here, especially with high over list prices. For the record, the article doesn't say about Seattle area, but here in King, Snohomish and Pierce counties the conforming loan limit is $891,250. So, if you get a loan higher than this number, you are going to pay higher loan fees depending on your downpayment amount.
https://www.bankrate.com/mortgages/fannie-freddie-add-high-balance-loan-fees/
Talk to the lender about these extra fees.
The new charges target borrowers buying high-cost or vacation homes.