New Mortgage Fee Rules Aim to Broaden Home Ownership but Could Raise Costs for Some

New federal rules will adjust upfront fees for loans backed by Fannie Mae and Freddie Mac starting May 1.
Fees are based on the borrower's credit score, down payment size, type of home, and more.
People with better credit scores may pay more in fees, while those with lower credit scores will pay less.
The new rules only apply to loans backed by Fannie Mae and Freddie Mac, and impact any new or refinanced home loan signed May 1 or later.
The new rules aim to provide "equitable and sustainable access to homeownership" and to strengthen capital at Freddie Mac and Fannie Mae.