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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1323 Chesapeake AVE, Naples, FL 34102
OYSTER BAY

2Bedroom(s)
2Bathroom(s)
17Picture(s)
1,507Sqft
Visits:0
STUNNING WATERFRONT CONDO ON NAPLES BAY WITH DIRECT GULF ACCESS & 26 FT BOAT SLIP INCLUDED!! Experience the ultimate Naples lifestyle in this beautifully renovated 2-bedroom + den, 2-bath waterfront condo, ideally located in a boutique community of just six residences at the end of a quiet cul-de-sac in downtown Naples.
$1,595,000

2302 Grenadines WAY, Naples, FL 34120
LAMORADA

3Bedroom(s)
3Bathroom(s)
48Picture(s)
2,448Sqft
Visits:0
A LOT TO LOVE! Built in 2019, this "Summerville" floorplan home in LaMorada offers both luxury and privacy on a nearly HALF-ACRE lot with privacy galore and lake views. With 3 bedrooms plus den, 3 full baths, and a 3-car garage, it seems like the perfect home for those looking for space and comfort.
$1,275,000

21229 Waymouth RUN, Estero, FL 33928
STONEYBROOK

3Bedroom(s)
2Bathroom(s)
1Picture(s)
1,948Sqft
Visits:0
Priced to sell in the desirable Stoneybrook community! 3 bedrooms, 2 baths, 1948 living square feet. Large tile flooring throughout main living areas, open kitchen design overlooks the large family room with impact glass french doors and tall vaulted ceilings. Kitchen upgrades include bamboo cabinets doors, granite counters, custom glass back splash and stainless steel appliances.
$450,000

305 Goodlette-Frank RD, Naples, FL 34102
MARINERS COVE

2Bedroom(s)
2Bathroom(s)
16Picture(s)
1,100Sqft
Visits:0
Downtown Naples Waterfront 2 Bedroom Renovated Condo with Deeded 32ft Dock! A boater’s dream in the heart of downtown Naples! This renovated 2-bedroom, 2-bath residence at Mariner’s Cove includes a deeded 32ft dock (lift eligible) with direct access to Naples Bay, Gordon Pass, and the Gulf of Mexico.
$899,000

512 Glendale AVE, Lehigh Acres, FL 33936
LEHIGH ACRES

2Bedroom(s)
2Bathroom(s)
42Picture(s)
1,155Sqft
Visits:0
Welcome to this spacious 2-bedroom, 2-bath home in the heart of Lehigh Acres, offering 1,155 sq. ft. of living space on an oversized 0.32-acre lot. Built in 1978, this solid block-constructed home features a split floor plan, a versatile den/Florida room, and plenty of potential for customization.
$185,000

7662 Sicilia CT, Naples, FL 34114
VERONA WALK

4Bedroom(s)
3Bathroom(s)
36Picture(s)
2,667Sqft
Visits:0
Spacious 4BR 3BA, 2 car garage, original builders option bump out, new roof, new a/c, new pool heater, granite counter tops, southern exposure. Carlyle floor plan. Many upgrades include fireplace, crown molding, central vac, tile throughout, plantation shutters throughout.
$859,000

1708 Kings Lake BLVD, Naples, FL 34112
KINGS LAKE

2Bedroom(s)
2Bathroom(s)
23Picture(s)
1,126Sqft
Visits:0
LAKE VIEW from this 2 bedroom plus den, 2 bath ground floor Greenfield Village condo in the much sought after Kings Lake community. All new high impact doors and windows throughout. Tile on the diagonal. Community offers heated pool, clubhouse and over a mile of walkways around the lake. Close proximity to restaurants and shops. Downtown Naples and Beaches are just a few miles away.
$305,000

1518 Oyster Catcher PT, Naples, FL 34105
NAPLES BATH AND TENNIS

2Bedroom(s)
2Bathroom(s)
21Picture(s)
1,214Sqft
Visits:0
Top-Floor Condo with Stunning Lake Views !!Enjoy serene sunrises in this beautifully updated 2-bedroom, 2-bath condominium with coveted eastern exposure located in an elevator building. Soaring 9-foot ceilings and an open-concept layout create a bright, tranquil living space.
$350,000

8231 Bay Colony DR, Naples, FL 34108
PELICAN BAY

3Bedroom(s)
4Bathroom(s)
12Picture(s)
3,450Sqft
Visits:0
This stunning beachfront residence offers breathtaking Gulf views and over 3,400 square feet of luxurious living space. Featuring three bedrooms, a den and 3.5 baths, the home boasts a well-designed floor plan with split bedrooms, separate living and family rooms, and a formal dining area.
$4,995,000

1806 21st PL, Cape Coral, FL 33909
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
33Picture(s)
1,887Sqft
Visits:0
Now It’s the Perfect Time to Buy! This gorgeous new construction on a freshwater canal could be the one! With an open concept floor plan and a sleek modern design, this home has everything you need and more.
$397,000

1802 Samantha Gayle WAY, Cape Coral, FL 33914
1818 PARKWAY CONDOMINIUMS

2Bedroom(s)
2Bathroom(s)
29Picture(s)
1,107Sqft
Visits:0
Beautiful New Construction Condo Community in SW Cape Coral! This 2-bedroom, 2-bath residence with a screened lanai and attached garage offers modern design, quality finishes, and a fantastic location. The open-concept floor plan is highlighted by tray ceilings, hurricane-impact doors and windows, and tile flooring throughout.
$299,900

3821 10th AVE, Naples, FL 34120
GOLDEN GATE ESTATES

3Bedroom(s)
2Bathroom(s)
25Picture(s)
1,022Sqft
Visits:0
Situated on 1.14 acres, this property offers space, comfort, and modern upgrades. The roof was replaced in 2017, and the home has been recently remodeled with a brand-new kitchen featuring custom cabinets, new appliances, updated flooring, and fresh interior paint.
$425,000

3487 Pacific DR, Naples, FL 34119
RIVERSTONE

3Bedroom(s)
2Bathroom(s)
33Picture(s)
2,081Sqft
Visits:0
Welcome to this serene retreat, the perfect place to enjoy year-round living or escape the northern winters. Start your mornings with a cup of coffee on the screened lanai, where you can relax while watching birds in the lush nature preserve behind your home. A welcoming covered entry leads into a spacious foyer, guiding guests into the heart of the home: a bright, open great room.
$685,000

6060 Golden Oaks LN, Naples, FL 34119
OAKES ESTATES

5Bedroom(s)
2Bathroom(s)
11Picture(s)
2,102Sqft
Visits:0
Remodeled single-family residence offers 5 bedrooms and 2 baths across approximately 2,100 sq ft of living space on a generous 2.27-acre lot. Property also has a 520 sqft storage garage that has air conditioning. Nestled in the desirable Oakes Estates community of Naples, this property offers all sorts of potential.
$1,375,000

538 Estero BLVD, Fort Myers Beach, FL 33931
DOLPHIN WATCH CONDO

2Bedroom(s)
2Bathroom(s)
18Picture(s)
1,325Sqft
Visits:0
Wake up to the sound of waves and breathtaking ocean views in this spectacular beachfront condo under renovation on Ft. Myers Beach! This 2-bedroom 2-bathroom with Den, (most units convert the den to a 3rd bedroom) condo is located at the much desire north end of the island.
$125,000

10682 Gulf Shore DR, Naples, FL 34108
VANDERBILT BEACH

2Bedroom(s)
2Bathroom(s)
20Picture(s)
1,248Sqft
Visits:0
Investor’s dream or ideal second home! Already secured with $20K+ in bookings for Jan/Feb 2026, it’s a true income opportunity. This bayfront condo delivers both lifestyle and income with breathtaking bay views, direct beach access across from Vanderbilt Beach, and a generous rental policy allowing up to 12 rentals per year (30-day minimum).
$925,000

19044 Via Messina WAY, Miromar Lakes, FL 33913
MIROMAR LAKES BEACH AND GOLF CLUB

3Bedroom(s)
4Bathroom(s)
44Picture(s)
3,523Sqft
Visits:0
Introducing the exquisite custom Costa Rio, a masterpiece of modern living available in Messina at Miromar Lakes. 3,523 SQ FT. of Living area. Boasting three bedrooms, three and a half bathrooms, a Covered Balcony, a Lanai, the expansive great room and den, plus a bonus room, provides versatile areas for relaxation and entertainment.
$3,195,000

2896 Tiburon BLVD, Naples, FL 34109
TIBURON

4Bedroom(s)
6Bathroom(s)
43Picture(s)
3,666Sqft
Visits:0
Immediate Full Golf Membership Available! Step into luxury living with this beautifully updated single-family home in the exclusive, double-gated community of Serafina at Tiburón. Enjoy the convenience of condo-style living with landscaping and pool maintenance included in the HOA, all while relishing the privacy and space of a standalone home.
$3,195,000
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