How to Minimize Mortgage Fees

The Federal Housing Finance Agency or FHFA has recalibrated the fee structure for loan level price adjustment by lowering fees for some borrowers and hiking fees for other borrowers. For example before May 1st, 2023, if you had a credit score of 740 or higher on a $500,000 loan you would pay a 0.25 percent fee or 1,250. Now paying up to $625 more in fees seems significant I guess it's 50 percent more than what you would have paid before the FHFA changed the rules.