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
Sep 24, 2026
New Home Sales Rise as Affordability Challenges Continue
Sales of newly built single-family homes increased 6.4% in August to a seasonally adjusted annual rate of 684,000, following an upwardly revised July estimate, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales was 2% lower than a year earlier.
Leading Suppliers Council
Sep 23, 2026
Discover What’s Next for Smart Homes and Attainable Housing
The smart home is entering a new era and builders have an opportunity to get ahead of what home owners will expect next. Join the NAHB Leading Suppliers Council for a free, two-part webinar on Monday, Sept. 28, to get a closer look at the technologies shaping the future of housing.
Latest Economic News
Economics
Sep 24, 2026
Single-Family Detached Homes Still Dominate Among the 55+ Population
Adults ages 55 and older make up a large and growing share of the U.S. population and play an important role in the U.S. housing market. In 2024, around 103 million Americans were ages 55 or older, ranging from adults still in the labor force to retirees.
Economics
Sep 23, 2026
Number of Bathrooms in New Single-Family Homes in 2025
Single-family homes started construction in 2025 typically had two full bathrooms, according to the U.S. Census Bureau’s Annual Survey of Construction.
Economics
Sep 23, 2026
Q2 2026 Remodeling Market Update: Labor and Nonlabor Input Costs
The remodeling industry is taking on a larger role within the residential construction sector. Structural tailwinds, such as an aging housing stock, the growing trend of aging-in-place among older home owners, and record-high housing wealth, will continue to grow remodeling’s market share further.