Fannie Mae changes for these type of mortgages: second home mortgages, investment properties, and high balance loans. There will be additional costs for mortgage buyers of second homes and investment property mortgages. Loan level price adjustments for second home buyers, investment property buyers, and high balance loan customers for new purchase loans and mortgage refinancing.

A high balance LLPA will not apply if any borrower on the loan is a firsttime homebuyer. Total qualifying income of all borrowers is less than or equal to 100%. Fannie Mae is also introducing a new loanlevel price adjustment (LLPA) for cashout refinance transactions. This LLPA will apply to all cashout refinance transactions regardless of the borrower’s occupancy status. In addition, Fannie Mae is increasing the minimum credit score requirement for all borrowers on all mortgage products to 620. This change will take effect on May 1st, 2023. Fannie Mae is also introducing a new loanlevel price adjustment (LLPA) for loans with a loantovalue (LTV) ratio greater than 95%. This LLPA will apply to all mortgage products regardless of the borrower’s occupancy status.

FAQs

1. What types of mortgages are affected by Fannie Mae’s recent changes?

The recent changes affect second home mortgages, investment properties, and high balance loans. These changes include additional costs for new purchase loans and mortgage refinancing.

2. What are Loan Level Price Adjustments (LLPAs)?

LLPAs are additional fees based on specific loan characteristics such as property type, credit score, and loan-to-value (LTV) ratio. These fees are added at the time of loan origination and can impact the interest rate or closing costs.

3. Are there any exemptions from the high balance LLPA?

Yes, a high balance LLPA will not apply if at least one borrower on the loan is a first-time homebuyer and the total qualifying income of all borrowers is less than or equal to 100% of the area median income (AMI).

4. What is the new LLPA for cash-out refinance transactions?

Fannie Mae has introduced a new LLPA for all cash-out refinance transactions, regardless of the borrower’s occupancy status.

5. What is the minimum credit score required under the new Fannie Mae guidelines?

Fannie Mae has increased the minimum credit score requirement for all borrowers on all mortgage products to 620, effective May 1st, 2023.

6. What is the LLPA for loans with an LTV ratio greater than 95%?

A new LLPA has been introduced for loans with an LTV ratio greater than 95%. This adjustment applies to all mortgage products, irrespective of the borrower’s occupancy status.

7. Can borrowers avoid these new fees?

There may be strategies to avoid or minimize the impact of these new fees. For personalized advice and information on how to potentially avoid these fees, you can call 239-370-1513.

8. When did these changes take effect?

The changes, including the increased credit score requirement and new LLPAs, took effect on May 1st, 2023.

9. Who should I contact for more details?

For more information or to discuss how these changes might affect your mortgage options, call 239-370-1513.

There are ways to avoid Fannie Mae’s new additional fees. Call for more information. Call 239-370-1513

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6320 Royal Woods DR, Fort Myers, FL 33908
ROYAL WOODS

2Bedroom(s)
2Bathroom(s)
27Picture(s)
1,173
Visits:0
Welcome to this fully updated 2-bedroom plus den villa in the desirable Royal Woods community—already generating income with a tenant in place at $2,100/month through June 2026! Spanning over 1,170 sq ft, this home has been thoughtfully renovated from top to bottom, featuring a bright open layout, brand-new tile flooring, grantite countertops, stylish island, and modern finishes throughout.
$219,900

306 Raber AVE, Lehigh Acres, FL 33974
LEHIGH ACRES

3Bedroom(s)
2Bathroom(s)
24Picture(s)
1,200
Visits:0
BRAND NEW CONSTRUCTION HOME TOO MANY UPGRADES TO MENTION AFFORDABLE LUXURY 3 BEDROOM 2 BATH 2 CAR GARAGE ALL TILE HOME BULDER WARRANTY PROVIDED FREE TO BUYER
$299,900

44 Nicklaus BLVD, North Fort Myers, FL 33903
SIX LAKES COUNTRY CLUB

2Bedroom(s)
2Bathroom(s)
864
Visits:0
Looking for a fixer-upper? This one is priced to sell very quickly. It needs some TLC, but it would be a great bargain for the right buyer. Please join us at Six Lakes Country Club, located close to Punta Gorda and Fort Myers airports. We are minutes away from the new VA Clinic, top-rated hospitals, and medical offices.
$99,000

1199 Garden ST, Labelle, FL 33935
NORTH LABELLE

2Bedroom(s)
1Bathroom(s)
1Picture(s)
806
Visits:0
Unique "old Florida" style home on gorgeous 1/2 acre lot in quiet area of Labelle. Fence with lots of trees and storage shed. Porches front and back to enjoy the outdoors. Minutes to shopping.
$145,000

2202 Jackson AVE, Alva, FL 33920
LEHIGH ACRES

4Bedroom(s)
3Bathroom(s)
25Picture(s)
2,176
Visits:0
Investor Special! Build your dream home or getaway on this spacious lot in serene Alva. Enjoy rural living just minutes from shopping, dining, and outdoor activities like riverfront parks and golf. With no HOA, bring your RV, boat, or customize your space as you like. Don’t miss this chance to own a piece of Southwest Florida’s beauty.
$119,000

134 Standish CIR, North Fort Myers, FL 33903
NORTH FORT MYERS

3Bedroom(s)
2Bathroom(s)
34Picture(s)
1,500
Visits:0
Newly refurbished POOL HOME just feet from the CALOOSAHATCHEE RIVER, quiet low traffic street, 3 bedroom 2 bath on an oversized lot, FENCED YARD, SCREEN ENCLOSED INGROUND POOL with new diamond brite finish, 22 X 12 covered screened lanai plus plenty of open deck space around the 35 X 41 pool area, oversized driveway for plenty of cars, boat or RV, covered carport plus 20 X 17 storage/utility room,
$285,000

12483 Afton CT, Fort Myers, FL 33908
MCGREGOR WOODS

3Bedroom(s)
2Bathroom(s)
43Picture(s)
2,500
Visits:0
Excellent McGregor Woods location, neighborhood atmosphere with plenty of amenities, located just minutes to the stores, restaurants and beaches, 2500 SQUARE FEET OF LIVING AREA WITH A SCREEN ENCLOSED IN GROUND POOL located on a quiet Cul De Sac on an oversized lot with plenty of privacy, white PVC fencing, spacious yard, NEW DIMENSIONAL SHINGLE ROOF IN 2023, new luxury vinyl plank floors througho
$592,400

1322 20th PL, Cape Coral, FL 33909
CAPE CORAL

4Bedroom(s)
2Bathroom(s)
39Picture(s)
1,837
Visits:0
School Choice Pool Home in Sunny Cape Coral! Welcome to your Florida oasis! This beautifully maintained 4-bedroom, 2-bathroom home features 1,837 sq ft of open living space and a 2-car garage. Enjoy the airy feel of cathedral ceilings in the spacious living room, with sliding glass doors that open up to your private screened-in pool and lanai — perfect for indoor-outdoor living.
$349,000

2001 Inglewood CIR, Labelle, FL 33935
PORT LABELLE

3Bedroom(s)
2Bathroom(s)
27Picture(s)
1,565
Visits:0
Discover comfort, security, and value in this brand new 3-bedroom, 2-bath home on a spacious corner lot in the growing Port LaBelle community. Thoughtfully designed with hurricane impact windows/doors, vaulted ceilings, tile floors, and a split-bedroom layout. The open-concept kitchen features granite countertops, stainless steel appliances, soft-close cabinets, pantry, and island seating.
$304,900

12429 Basalt LN, Alva, FL 33982
BABCOCK RANCH

2Bedroom(s)
2Bathroom(s)
50Picture(s)
1,921
Visits:0
Available now, the newly constructed Mystique floorplan offers 2 bedrooms, 2 bathrooms, and a versatile flex space, thoughtfully designed for comfort and style. This home is loaded with high-end upgrades, including elegant tray ceilings in the gathering room, flex room, and owner’s suite, along with built-in kitchen appliances and white cabinetry topped with quartz countertops.
$490,340

10421 Regent CIR, Naples, FL 34109
REGENT PARK

4Bedroom(s)
2Bathroom(s)
31Picture(s)
2,175
Visits:0
NORTH NAPLES RENOVATION OPPORTUNITY! Value priced FOUR BEDROOM single family in a great family neighborhood. Split bedroom floor plan. Vaulted ceilings in the main living area. Large private master suite. Separate living/dining room plus family room off the kitchen as well as a large, screened lanai.
$535,000

16233 Rosemallow LN, Alva, FL 33920
HAMPTON LAKES

5Bedroom(s)
3Bathroom(s)
44Picture(s)
3,302
Visits:0
This stunning 5-bedroom, 3-bathroom retreat, built in 2021, is nestled in the highly sought-after Hampton Lakes Subdivision, where luxury living meets serene landscapes. Step inside to be greeted by expansive living spaces, rich with natural light and elegant finishes.
$599,900

1100 9th TER, Cape Coral, FL 33993
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
30Picture(s)
1,409
Visits:0
Welcome to this beautifully renovated 3-Bedroom, 2-Bath Home in NW Cape Coral! This charming residence features a bright and spacious open floor plan, with tile throughout the main living areas and new vinyl plank flooring in the bedrooms.
$299,000

15077 Jadestone DR, Babcock Ranch, FL 33982
BABCOCK RANCH

4Bedroom(s)
3Bathroom(s)
3Picture(s)
2,032
Visits:0
THIS POOL HOME IS READY FOR YOU NOW!! Welcome to Tucker’s Cove, the ultimate water park-inspired community offering new homes in Babcock Ranch, America's first solar-powered town.
$449,999

4123 PEACEFUL RIVER LN, Fort Myers, FL 33905
BRIGHTON POINTE

3Bedroom(s)
2Bathroom(s)
10Picture(s)
1,672
Visits:0
Welcome to Aria — where comfort, style, and modern convenience come together in the heart of Brighton Pointe. This quiet, ideally located community offers smart home features in every residence, bringing a touch of the future into your everyday life. This thoughtfully designed one-story home offers a spacious, light-filled layout perfect for both entertaining and everyday living.
$320,280

15482 Crystal Lake DR, North Fort Myers, FL 33917
FOXMOOR

2Bedroom(s)
2Bathroom(s)
33Picture(s)
1,020
Visits:0
Welcome to your new oasis in the peaceful Foxmoor Lakes community, nestled along a tranquil riverbank. This beautifully renovated villa, part of a unique quad-style building that lives like a single-family home, offers something for everyone. Inside, you’ll find a spacious great room and a smart split-bedroom floor plan, ensuring both comfort and privacy.
$169,900

1019 Calvin AVE, Lehigh Acres, FL 33972
LEHIGH ACRES

4Bedroom(s)
2Bathroom(s)
27Picture(s)
1,850
Visits:0
Modern Luxury Living —total 2,510 sqft of Stunning New Construction! This brand-new, high-quality home features soaring high ceilings and 8-foot doors, elegant premium tiles throughout (even on the spacious lanai), and impact-rated windows and doors for your peace of mind.
$433,000

6619 Marbella DR, Naples, FL 34105
MARBELLA LAKES

4Bedroom(s)
4Bathroom(s)
20Picture(s)
2,857
Visits:0
Stunning Lakefront Pool Home in Marbella Lakes – Fully Renovated with Over $250K in Designer Finishes and Upgrades! This 4bed + loft/den, 4-bath home offers Luxury living with Wide-Plank LVP flooring, 14’ tray ceilings, and Crown molding throughout.
$1,350,000
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