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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24354 Pirate Harbor BLVD, Punta Gorda, FL 33955
PIRATE HARBOR

3Bedroom(s)
3Bathroom(s)
50Picture(s)
2,433Sqft
Visits:0
Welcome to 24354 Pirate Harbor Blvd, a beautifully maintained custom home in the desirable waterfront community of Pirate Harbor. Ideally positioned at an elevation of 11.5 feet, this home not only provides peace of mind but also offers stunning water views and direct sailboat access to Charlotte Harbor and the Gulf of America—making it a perfect retreat for boaters and sunset lovers alike.
$1,100,000

17333 Corsini DR, Fort Myers, FL 33913
ESPLANADE LAKE CLUB

2Bedroom(s)
2Bathroom(s)
50Picture(s)
1,581Sqft
Visits:0
Welcome to Esplande Lake Club where modern design meets resort-style amenities in one of Southwest Florida’s most desirable gated communities. Built in 2022, this impeccably maintained Open Floor plan 2-bedroom + Den, 2-Bathroom home partially furnished offers both style and versatility.
$655,000

1373 Morningside DR, Fort Myers, FL 33901
SEMINOLE ESTATES

3Bedroom(s)
2Bathroom(s)
36Picture(s)
2,042Sqft
Visits:0
This beautifully updated mid-century modern home in Fort Myers sits on an oversized corner lot just off historic McGregor Boulevard, offering timeless style and modern comfort in one perfect package. The remodeled kitchen features quartz countertops, soft-close cabinets and drawers, stainless steel appliances, a center island with cooktop, and two pantries for ample storage.
$489,000

402 8th PL, Cape Coral, FL 33990
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
41Picture(s)
1,544Sqft
Visits:0
SOLD TURNKEY! - THIS SOLAR WATERFRONT HOME WITH A MASSIVE NEWLY REFINISHED HEATED POOL & ASSESSMENTS PAID is waiting for it's new owner. This beautifully updated home boasts a brand-new roof, AC system, pool heater and screen enclosure.
$474,000

3305 50th ST, Lehigh Acres, FL 33971
LEHIGH ACRES

3Bedroom(s)
2Bathroom(s)
26Picture(s)
1,574Sqft
Visits:0
Stunning 3 bed 2 bath home situated in the heart of Lehigh Acres. Featuring large master bedroom & bathroom, master closet, office space or hang out area, tile floor in the living area, carpet in the bedrooms, freshly painted ( May 2025). Easy access to all major roads, such as Lee blvd, SR-82 and FSW airport. Call today. 0, new roof (December 2024).
$309,900

10510 Amiata WAY, Fort Myers, FL 33913
PELICAN PRESERVE

2Bedroom(s)
2Bathroom(s)
44Picture(s)
1,245Sqft
Visits:0
Enjoy maintenance-free living in this top-floor corner condo located in the sought-after 55+ community of Pelican Preserve. Soaring vaulted ceilings and abundant natural light enhance the spacious, open layout, while tranquil views of the water and preserve create the perfect backdrop for morning coffee from your lanai or breakfast nook.
$242,500

18464 Olive RD, Fort Myers, FL 33967
SAN CARLOS PARK

3Bedroom(s)
2Bathroom(s)
39Picture(s)
1,932Sqft
Visits:0
Beautifully Maintained 3 Bedroom + Den, 2 Bath, Oversized (423 SF) 2 Car Garage Home in San Carlos Park! Pride of ownership shines throughout this well-kept 2,400 sq ft, CONCRETE BLOCK home built in 2006. Thoughtfully Updated with a Brand-NEW SHINGLE ROOF in 2023, NEW WATER HEATER, and NEW LAMINATE FLOORING in the den, master, and both guest bedrooms, NEW A/C IN 2020.
$479,999

1438 Park Shore CIR, Fort Myers, FL 33901
HAMLET

2Bedroom(s)
3Bathroom(s)
25Picture(s)
1,314Sqft
Visits:0
Beautiful townhouse in the heart of Fort Myers. This unit is the only unit that has a built-in covered patio 2 additional storage areas. The updated light and bright kitchen will make you feel right at home with its modern country style and butcher block counters. A half bath located downstairs along with extra storage and your laundry room.
$282,000

3930 Leeward Passage CT, Bonita Springs, FL 34134
VANDERBILT LAKES

2Bedroom(s)
2Bathroom(s)
27Picture(s)
1,173Sqft
Visits:0
Fantastic Move-in ready as-is 2 bedroom PLUS DEN, 2 bathroom condo in a gated community of Bermuda Isles within Vanderbilt Lakes. The property is being sold as-is, located on the 2nd floor, this unit features gorgeous vaulted ceilings and an abundance of natural lighting. Den can easily be converted to 3rd bedroom if needed.
$348,900

15976 Bellflower ST, Bokeelia, FL 33922
PINE ISLAND ESTATES

2Bedroom(s)
1Bathroom(s)
1Picture(s)
1,107Sqft
Visits:0
Calling all Boaters and fisherman. If you are looking for a home with easy access to the waters of Charlotte Harbor, Pine Island Sound, and the Gulf of Mexico, this unique Bokeelia home is just what the doctor ordered. This home is located on the north end of Pine Island just a stones throw from Lavender Landing which is a Lee County owned and operated boat launch ramp.
$399,000

3871 White BLVD, Naples, FL 34117
GOLDEN GATE ESTATES

4Bedroom(s)
3Bathroom(s)
45Picture(s)
1,344Sqft
Visits:0
Discover your dream home on 1.14 acres of land. This spacious 4 bedroom, 3 bath is the perfect blend of comfort, style and functionality. This property also includes a separate guest with 1 bedroom, 1 bath, ideal for visitors. Enjoy privacy, space, and the charm of country living all just minutes from town.
$650,000

312 Grovewood AVE, Lehigh Acres, FL 33936
WEDGEWOOD

2Bedroom(s)
2Bathroom(s)
35Picture(s)
1,325Sqft
Visits:0
Welcome to your dream home in Wedgewood, Lehigh Acres! This charming single family home boasts 2 bedrooms and 2 bathrooms with an attached carport and an 8 foot deep in-ground pool perfect for those hot Florida days. Open concept, eat-in kitchen with updated cabinets within the last 10 years. The A/C, water heater, and pool pump have all been replaced in the past 5 years for your peace of mind.
$245,900

235 Maine AVE, Fort Myers, FL 33905
MORSE SHORES

3Bedroom(s)
2Bathroom(s)
22Picture(s)
1,092Sqft
Visits:0
Pool Home Alert. This Cozy Newly Remodeled home located within a desirable neighborhood just off Palm Beach Blvd features a nice sized lot, carport, covered rear porch, an inground pool surrounded by a Fence for your privacy. New Roof in 2023.
$249,900

3835 Harold AVE, Fort Myers, FL 33901
LA CHELLE MANOR

4Bedroom(s)
3Bathroom(s)
27Picture(s)
2,797Sqft
Visits:0
Stunning, move-in ready 4 bedroom, 3 bathroom home located in the heart of Fort Myers on an oversized +/- 0.41 acres corner lot. This meticulously updated residence boasts nearly 2,800 sq ft of living space, including two primary suites, perfect for multi-generational living or guest privacy.
$794,900

2825 Palm Beach BLVD, Fort Myers, FL 33916
ALTA MAR

2Bedroom(s)
3Bathroom(s)
29Picture(s)
1,003Sqft
Visits:0
Motivated Seller!!! This beautifully furnished second-floor unit in The Alta Mar Condominiums offers a harmonious blend of comfort and convenience. Featuring white cabinets and granite countertops, the interior is both stylish and functional, with turnkey furnishings providing a seamless move-in experience.
$265,000

1421 14th TER, Cape Coral, FL 33990
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
33Picture(s)
1,240Sqft
Visits:0
Back on the market due to the buyer's financing not working out. Come check out this Cape Coral pool home, with a NEW ROOF!! Leepa has it as a 2/2, but it's really a 3/2. It was converted (yes, with a permit) in 2011. It has a few quirks, but is so charming with a fenced-in back yard complete with a fire pit right outside the screened-in pool area.
$269,000

17751 Peppard DR, Fort Myers Beach, FL 33931
BAYSIDE ESTATES

2Bedroom(s)
2Bathroom(s)
30Picture(s)
1,332Sqft
Visits:0
Impeccably Renovated | Prime Location | Seller Financing Available Experience the very best of coastal living in this fully updated home in Bayside Estates, a premier 55+ Gulf access community located just 2.5 miles from Fort Myers Beach. Offering low HOA fees that cover water, garbage, internet, and yard maintenance, Bayside provides exceptional value along with a vibrant, active lifestyle.
$368,900

16055 Cutters CT, Fort Myers, FL 33908
COLONIAL SHORES

4Bedroom(s)
2Bathroom(s)
41Picture(s)
2,150Sqft
Visits:0
Welcome to your dream home, located in the private community of Colonial Shores! Nestled within a prestigious gated and walled community, this stunning property offers both enhanced security and a lively social atmosphere with access to a small clubhouse, fitness room and community pool.
$585,000
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