FHFA to Impose Hefty Upfront Fees on Second Home Purchases
In a move strongly opposed by NAHB, the Federal Housing Finance Agency (FHFA) today announced increases for upfront fees that Fannie Mae and Freddie Mac will charge for second home mortgage loans and certain high balance mortgage loans that exceed standard conforming loan limits. These fees will significantly increase the purchase cost of a second home and some homes in high cost areas. Beneficial pricing on the agencies’ affordable loan products will not be increased.
Effective April 1, 2022, upfront fees on certain high balance loans sold to Fannie Mae and Freddie Mac will increase between 0.25% and 0.75%. Also effective on April 1, 2022, the upfront fees for mortgage loans on second homes will increase between 1.125% and 3.875%. Fees will vary based on the loan-to-value ratio.
Under the plan announced today, the buyer of a second home with a $300,000 mortgage loan amount and loan-to-value ratio of 65% will pay an additional fee of $4,875 if their mortgage is acquired by Fannie Mae or Freddie Mac. Prior to the effective date of today’s announcement, the same buyer would pay no additional fee for the comparable mortgage.
“With the nation in the midst of a housing affordability crisis and many more workers electing to telework, this is exactly the wrong time for federal regulators to be raising fees on homeownership and second homes,” said NAHB Chairman Chuck Fowke. “If FHFA is truly interested in promoting housing affordability, the agency would not be taxing home buyers to pad the capital positions for Fannie Mae and Freddie Mac.”
Latest from NAHBNow
Economics
Apr 27, 2026
Housing’s ‘Silver Tsunami’ Is Coming, But It Won’t Hit Every MarketThe so-called “silver tsunami” describes the wave of millions of homes expected to hit the market as older Americans increasingly decide to sell their properties. However, industry experts are noting that this “tsunami” isn’t landing where it’s needed most.
Membership
Apr 24, 2026
Blueprint to 100: Industry Pulse Check Launches May 1Blueprint to 100 is NAHB's initiative to build an association that better meets industry needs as we approach the 100th anniversary of our founding. The Industry Pulse Check — launching Friday, May 1 — is our first step in this initiative to gain the insights we need to build an association that meets your needs.
Latest Economic News
Economics
Apr 23, 2026
The Silver Tsunami Isn’t Landing Where It’s Needed MostThe “silver tsunami” refers to the wave of housing inventory expected as older homeowners downsize or transition out of their homes. According to the latest American Community Survey, there are an estimated 61.2 million people in the U.S. aged 65 years or older, representing about 18% of the population.
Economics
Apr 22, 2026
State-Level Employment Situation: February 2026February’s labor market data point to a notable pullback in employment, with job losses concentrated across a majority of states and only modest gains elsewhere. While January showed solid momentum, February’s decline reflects emerging softness in hiring conditions, alongside uneven performance across the country.
Economics
Apr 21, 2026
Population Growth and Housing Supply Dynamics at the County Level in 2025U.S. population growth slowed notably in the latest Vintage 2025 population estimates from the U.S. Census Bureau, with the nation expanding by just 0.5% in 2025, roughly half the pace of the prior year. The deceleration was primarily driven by a sharp decline in net international migration (NIM), which dropped from 2.7 million to 1.3 million, while natural change remained relatively stable.