FHFA Rule Tweaks Target Lower Home Insurance Costs for Buyers and Condos
TL;DR Summary
The FHFA is updating Fannie Mae and Freddie Mac rules to lower homeowners’ insurance bills by allowing Actual Cash Value (ACV) roof coverage on single-family homes and condos, simplifying the maximum per-unit deductible, and scrapping a 2024 clarification. The changes are aimed at making mortgages more affordable—especially for condo owners and rural buyers—while preserving full replacement-cost protection for the rest of the home.
- Fannie Mae and Freddie Mac Remove Certain Homeowners Insurance Requirements That Will Reduce Costs FHFA (.gov)
- FHFA loosens insurance rules targeting condos, rural loans National Mortgage News
- Press Release: Senator Eric Schmitt Supports Repeal of Biden-Era Housing Regulations Under Trump Administration Quiver Quantitative
- Rising insurance costs push Fannie, Freddie to adjust mortgage rules AOL.com
- Fannie and Freddie ease insurance rules mpamag.com
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