Home buyers to be dinged with new fees, beginning April 1, 2009 Fannie Mae and Freddie Mac will increase mandatory fees and toughen credit-score and down-payment rules. 

Under the new guidelines, applicants will be charged more for down payments of less than 30 percent.  Home buyers with FICO scores between 700 and 720 will pay an extra three-quarters of a point.  Applicants who purchase a condominium and do not have a 25 percent down payment also will pay a three-quarter point add-on penalty, regardless of their FICO score, for purchasing a condominium instead of a single-family home.

The two Government Sponsored Enterprises (GSEs) said the additional fees are to counter higher risks and losses associated with certain loan products, buyer equity stakes, and credit scores.

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