Soaring fees could cost new homebuyers hundreds more a month

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December 02, 2014

Consumer advocates and prominent housing industry trade groups want federal agencies to lower mortgage fees, the Washington Post reports.
 
According to housing reporter Dina ElBoghdady, FHA loans have been a popular choice for first-time homebuyers and low-income families “because they require a down payment of only 3.5 percent.” But after the housing bust, “annual premiums” tacked onto mortgage installments have been raised five times since 2010, and these fees add up.
 
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