New Fannie Mae fee to pinch some real estate Condo Buyers:

Thinking of buying or refinancing a condo?  The latest fee that will hurt your pocketbook (unless you are making a sizable downpayment) is that Fannie Mae has added a fee of .75 percent of the loan amount of a 30-year fixed mortgage for borrowers who put down less than 25% of the purchase price, effective April 1, 2009.

Do your best to close on your real estate purchase before April 1, 2009 and save some money!

Posted by:  Carol Best - Luxury Market Expert
Serving Chicagoland, West, North & NW Suburban areas
Coldwell Banker | Barrington, IL - www.CarolBest.net

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