FHFA Announces Changes to Fannie Mae and Freddie Mac’s G-Fee Pricing
The Federal Housing Finance Agency (FHFA) today announced targeted changes to Fannie Mae and Freddie Mac’s guarantee fee pricing by eliminating upfront fees for certain borrowers and affordable mortgage products, while implementing targeted increases to the upfront fees for most cash-out refinance loans.
Fannie Mae and Freddie Mac guarantee the payment of principal and interest on their mortgage-backed securities and charges a fee for providing that guarantee. The guarantee fee, also known as a g-fee, covers projected credit losses from borrower defaults over the life of the loans, administrative costs, and a return on capital.
FHFA has announced that Fannie Mae and Freddie Mac will eliminate upfront fees for:
- First-time home buyers at or below 100% of area median income (AMI) in most of the United States and below 120% of AMI in high-cost areas;
- HomeReady and Home Possible loans (Fannie Mae and Freddie Mac’s flagship affordable mortgage programs);
- HFA (Housing Finance Agency) Advantage and HFA Preferred loans; and
- Single-family loans supporting the Duty to Serve program.
In addition, the upfront fees for cash-out refinance loans will be revised to reflect a range of pricing changes from a decrease of 1 percentage point to an increase of 1 percentage point.
The fee reductions will go into effect as soon as possible and the implementation of new fees for cash-out refinance loans will begin Feb. 1, 2023.
Latest from NAHBNow
Economics | Advocacy
Oct 09, 2026
Podcast: 7.5% Mortgage Rates ‘New Normal’ Until Geopolitical Issues Resolved
On the latest episode of NAHB podcast Housing Developments, NAHB Chief Economist Dr. Robert Dietz joins CEO Jim Tobin and COO Paul Lopez to discuss the latest economic forecasts and how they have changed this year due to geopolitical turmoil.
IBS
Oct 08, 2026
IBS Remodeled Show Home Uses Holistic Approach to Boost Efficiency
The New American Remodel 2027 will be much more than a beautiful show home. It will highlight just how far building products and techniques have advanced in a relatively short period of time.
Latest Economic News
Economics
Oct 09, 2026
Private Water and Sewer Systems in 2025 New Single-Family Homes
The share of new single-family homes built with individual wells and septic systems increased in 2025 compared to the previous year. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC), approximately 10% of single-family homes started in 2025 were served by individual (private) wells, and 17% relied on individual septic systems.
Economics
Oct 08, 2026
Remodeling Market Sentiment Remains Stable in Third Quarter Despite Headwinds
In the third quarter of 2026, the NAHB Remodeling Market Index (RMI) posted a reading of 62, up one point compared to the previous quarter. The RMI has remained within a narrow band between 59 and 70 for the past four years.
Economics
Oct 07, 2026
ARM Share Increased as Mortgage Rates Spiked
Mortgage application activity declined as the 30-year fixed mortgage rate rose sharply. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, decreased 7.7% month-over-month in September on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were lower by 35.4%.