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

[3d-flip-book mode=”fullscreen” id=”2550″][/3d-flip-book]

[3d-flip-book mode=”fullscreen” id=”2552″][/3d-flip-book]

Search SWFL Listings

()

Sort Option
  • Listing ID
  • SQ FT
  • Price
  • Development
Grid
List
Map

118 Parish DR, Lehigh Acres, FL 33974
MIRROR LAKES

4Bedroom(s)
2Bathroom(s)
22Picture(s)
2,157Sqft
Visits:0
New Construction, 4 Bedroom 2 Bath Home in Mirror Lakes in Lehigh Acres.
$395,000

9566 Gulf Shore DR, Naples, FL 34108
VANDERBILT BEACH

3Bedroom(s)
4Bathroom(s)
31Picture(s)
2,082Sqft
Visits:0
Introducing a Fabulous Naples waterfront Cottage! Bask in the best of both worlds with both Gulf of America and expansive Bay views. Here's the arrangement: The grand living area and spacious primary bedroom capture glorious Bay views overlooking three intersecting canals, offering access to the east lanai.
$2,399,999

3630 Crosswater DR, North Fort Myers, FL 33917
MAGNOLIA LANDING

4Bedroom(s)
2Bathroom(s)
34Picture(s)
1,828Sqft
Visits:0
The Cali is a 1,828 sq. ft., 4 bed, 2 bath single-family home with a 2-car garage. It features modern plank tile (carpet in bedrooms), an open-concept layout, light cabinetry, quartz countertops, and a full Whirlpool appliance package—including fridge, washer & dryer. Natural light fills the space, and the private primary suite is located at the rear of the home.
$325,140

8405 EVERLY PRESERVE DR, Lehigh Acres, FL 33971
ASHER PARK

3Bedroom(s)
3Bathroom(s)
21Picture(s)
1,464Sqft
Visits:0
Under construction opportunity. Presenting the Pearson, our newest townhome plan at Asher Park! The Pearson offers 3 bedrooms, 2.5 bathrooms and an attached 1 car garage with space for 2 additional cars on your paved driveway! This appealing open concept home enjoys a peaceful preserve view and has ALL CONCRETE BLOCK CONSTRUCTION for your peace of mind and greater soundproofing.
$264,990

19630 Huber RD, North Fort Myers, FL 33917
NORTH FORT MYERS

3Bedroom(s)
2Bathroom(s)
19Picture(s)
2,617Sqft
Visits:0
Welcome to this inviting 3-bedroom, 2-bathroom home at 15437 Crystal Lake Dr, North Fort Myers, nestled on a generous lot. This residence features an open-concept layout with a modern kitchen equipped with sleek appliances and ample cabinetry, great for culinary enthusiasts. The expansive backyard offers a serene space for outdoor activities, gardening, or soaking up the Florida sunshine.
$318,000

99 9th ST, Bonita Springs, FL 34134
BONITA SHORES

3Bedroom(s)
2Bathroom(s)
16Picture(s)
1,363Sqft
Visits:0
Welcome to Bonita Shores. Quiet back street in neighborhood. Great for walking, bike riding and boating. Community boat ramp. 10 minutes to Wiggins Pass. Vanderbilt Drive bike path at end of street. Barefoot Beach 1.5 miles away. Home has never flooded or been damaged by any storm. AC 2018, water tank 2021, New kitchen and baths 2025. beautiful quartz countertops and upgraded wood cabinets.
$625,000

4596 Arboretum CIR, Naples, FL 34112
ARBORETUM

2Bedroom(s)
2Bathroom(s)
39Picture(s)
1,480Sqft
Visits:0
Our Seabright floor plan in our Coastal exterior is a second-floor coach home 1480 sq ft. that offers 2 bedrooms, 2 baths and a 1 car garage with screened lanai. Perfect for everyday living or entertainment guests, this bright and airy floorplan includes a beautiful adjacent dining area with direct access to the kitchen.
$539,000

12401 Basalt LN, Alva, FL 33920
BABCOCK RANCH

3Bedroom(s)
2Bathroom(s)
30Picture(s)
1,670Sqft
Visits:0
Brand new construction—ready for immediate move-in! This stunning Prosperity floorplan offers 3 bedrooms, 2 bathrooms, and a 2-car garage, thoughtfully designed for modern living. The kitchen features elegant white cabinetry paired with durable Silestone countertops, creating a bright and inviting space.
$483,605

6212 Cocos DR, Fort Myers, FL 33908
ISLAND PARK

3Bedroom(s)
3Bathroom(s)
43Picture(s)
2,073Sqft
Visits:0
This one-of-a-kind, fully remodeled turnkey waterfront home offers direct Gulf access and exceptional designer finishes throughout. Every detail has been thoughtfully upgraded, including impact-resistant doors and windows, a reimagined open floor plan with a third full bathroom, and high-end materials at every turn.
$789,000

1636 Lake Jessup CIR, Cape Coral, FL 33909
SAWGRASS AT CORAL LAKES

3Bedroom(s)
3Bathroom(s)
39Picture(s)
1,657Sqft
Visits:0
BRAND NEW CONSTRUCTION-Move in second quarter 2026. This Rowan two car garage corner Model by top builder Centex in the gated Community of Sawgrass at Coral Lakes. This home comes with a 10 year transferable Warranty at no cost. We are currently offering special financing and closing cost incentives.
$279,990

1622 Lake Jessup CIR, Cape Coral, FL 33909
SAWGRASS AT CORAL LAKES

3Bedroom(s)
3Bathroom(s)
39Picture(s)
1,657Sqft
Visits:0
BRAND NEW CONSTRUCTION-Move in second quarter 2026. This Rowan two car garage corner Model by top builder Centex in the gated Community of Sawgrass at Coral Lakes. This home comes with a 10 year transferable Warranty at no cost. We are currently offering special financing and closing cost incentives.
$279,990

3610 Rollingwater WAY, North Fort Myers, FL 33917
MAGNOLIA LANDING

3Bedroom(s)
2Bathroom(s)
20Picture(s)
1,670Sqft
Visits:0
This beautifully designed Aria floorplan, 1,672 sq. ft. single-family home features 3 bedrooms, 2 bathrooms, and a 2-car garage. Upon entering, you're greeted by a wide foyer and stylish plank tile flooring that extends through the common areas, while the bedrooms are comfortably carpeted.
$299,999

3645 Treasure Cove CT, Naples, FL 34114
COPPER COVE PRESERVE

3Bedroom(s)
3Bathroom(s)
50Picture(s)
2,006Sqft
Visits:0
Through the community entry lined with royal palms is one of Naples best kept secrets, Copper Cove Preserve. This home has the desired open TREVI floor plan with 3 bedrooms plus den and 3 full bath. The kitchen is upgraded with granite counter tops, custom pantry, built in bookcase, and under cabinet lighting. There is Crown molding in the main living room, den and master bedroom.
$734,999

547 Eastwood DR, Naples, FL 34110
PALM RIVER

3Bedroom(s)
2Bathroom(s)
20Picture(s)
1,541Sqft
Visits:0
Diamond in the Rough - Priced Aggressively for Quick Sale . .. allowing new buyer to improve the home to their taste. What makes this home special is that is one 25 homes in the Palm River Estate Greenwood Community, which offers a peaceful park at your backyard with a walkway to a community pool with low HOA Fees.
$460,000

1605 Lake Jessup CIR, Cape Coral, FL 33909
SAWGRASS AT CORAL LAKES

3Bedroom(s)
3Bathroom(s)
38Picture(s)
1,816Sqft
Visits:0
BRAND NEW CONSTRUCTION-Move in by March 2026. This Alder Model by top builder Centex in the gated Community of Sawgrass at Coral Lakes. This home comes with a 10 year transferable Warranty at no cost. We are currently offering special financing and closing cost incentives.
$279,990

4219 Liron AVE, Fort Myers, FL 33916
PROVINCE PARK

3Bedroom(s)
2Bathroom(s)
29Picture(s)
1,249Sqft
Visits:0
Corner second floor spacious condo with a lot of a natural light located in Province Park gated community in Fort Myers offering the perfect blend of comfort and convenience, just minutes from I-75, shopping, dining, and the beautiful Gulf beaches.
$228,500

3530 Hibiscus AVE, Naples, FL 34104
NAPLES VILLAS

3Bedroom(s)
2Bathroom(s)
44Picture(s)
1,683Sqft
Visits:0
Discover easy living just minutes from the heart of downtown in this newer 3-bed, 2-bath single-family home. An open floor plan flows to a screened pool and patio—perfect for relaxing or entertaining. Modern finishes, a private backyard, and quick access to shopping, dining, and beaches make this property a rare find.
$920,000

3552 Hibiscus AVE, Naples, FL 34104
NAPLES VILLAS

3Bedroom(s)
2Bathroom(s)
45Picture(s)
1,588Sqft
Visits:0
Newer Construction. Coastal contemporary, open and spacious, three-bedroom, two bath single family pool home with coffered ceilings, a custom kitchen and fabulously master ensuite bathroom. Demonstrated history of rental income that creates a great opportunity for investors seeking value growth.
$920,000
17422 Results returned.Per Page
Mortgage Rates Dip Below 7% Again
Realtor | Voted #1 Best | Real Estate Florida
Estero Homes For Sale