"Adam and Kathy were wonderful to work with. No surprises always answered the phone and kept us updated. Made our loan super easy for a vacation property. We will definitely use them again."
zuser201611031417051
New Loan Level Price Adjustments (LLPAs) as of 5.1.23
The new Loan Level Price Adjustments (LLPAs) have generally increased the costs for loans for borrowers with higher credit scores over 680 and down payments ranging from 10% - 25% whereas it has generally decreased the cost for borrowers with credit scores below 680.
The cost increases are basically "folded into" the interest rate meaning borrowers are not necessarily paying more upfront cost but perhaps experiencing a .125% - .25% higher interest rate. In come cases, the costs are minor and imperceptible.
It is not "great news" for those negatively impacted but typically not a "deal breaker" either and for those positively impacted, we hope it gives them an opportunity they might not have otherwise had to own a home.
The cost increases are basically "folded into" the interest rate meaning borrowers are not necessarily paying more upfront cost but perhaps experiencing a .125% - .25% higher interest rate. In come cases, the costs are minor and imperceptible.
It is not "great news" for those negatively impacted but typically not a "deal breaker" either and for those positively impacted, we hope it gives them an opportunity they might not have otherwise had to own a home.