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 borrowers 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 borrowers 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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5810 Pine Tree DR, Sanibel, FL 33957
CASTAWAY ESTATES

4Bedroom(s)
3Bathroom(s)
31Picture(s)
2,929
Visits:0
Welcome to your private island retreat on the serene and highly sought-after Dinkins Bayou, where breathtaking wide water views meet direct boating access to both the Gulf and Bay. This stunning, elevated home offers over 3,000 square feet of luxury living across two thoughtfully designed levels, blending elegant coastal style with modern comforts.
$1,999,999

20021 Sanibel View CIR, Fort Myers, FL 33908
SANIBEL VIEW CONDO

2Bedroom(s)
2Bathroom(s)
49Picture(s)
1,487
Visits:0
Find your corner of paradise in this “Donovan” floor plan located in the highly sought-after Sanibel View, a resort style community built by Toll Brothers. This meticulously maintained second floor 2 bedroom, 2 bath split plan condo features an updated kitchen with granite counter surfaces, custom backsplash, shaker style cabinetry and stainless appliances.
$349,000

19851 Breckenridge DR, Estero, FL 33928
BRECKENRIDGE

2Bedroom(s)
2Bathroom(s)
31Picture(s)
1,379
Visits:0
Spacious First-Floor Condo with Lake & Golf Course Views in The Preserve at Breckenridge. Welcome to this beautifully maintained 2-bedroom, 2-bathroom first-floor condo offering 1,379 sq.ft. of comfortable living space in the desirable Preserve at Breckenridge community. Designed for both everyday living and entertaining, the open-concept floor plan seamlessly connects the main living areas.
$315,000

152 27th TER, Cape Coral, FL 33904
CAPE CORAL

4Bedroom(s)
2Bathroom(s)
29Picture(s)
2,090
Visits:0
Welcome to this four bedroom, two bathroom, almost new 2022 construction. Close to all and the Midpoint Bridge and boat dock. Great for a first time home buyer, who also wants to use as property income.
$459,000

9964 Horse Creek RD, Fort Myers, FL 33913
COLONIAL COUNTRY CLUB

3Bedroom(s)
2Bathroom(s)
44Picture(s)
1,514
Visits:0
Luxury Living at Colonial Country Club! Experience the epitome of elegance and leisure at Colonial Country Club, nestled in the prestigious enclave of Fort Myers, Florida. This exclusive 3 bedroom, 2-bath home offers a lifestyle relaxation, surrounded by lush tropical landscapes and world-class amenities.
$399,900

17459 Palmetto Pass LN, Punta Gorda, FL 33982
BABCOCK RANCH

4Bedroom(s)
3Bathroom(s)
50Picture(s)
2,031
Visits:0
Live the sustainable Florida lifestyle in this stunning 4-bedroom home located in the nation’s first solar-powered town—Babcock Ranch! This home truly shows like a model, boasting luxury vinyl plank (LVP) flooring, beautiful custom trim work, high-end finishes, and upgrades galore throughout.
$454,900

8310 Village Edge CIR, Fort Myers, FL 33919
LAKEWOOD VILLAGE

3Bedroom(s)
3Bathroom(s)
39Picture(s)
1,634
Visits:0
OWNER FINANCING AVAILABLE! Welcome to Lakewood Village — a gated, quiet, and highly desirable community in the heart of Southwest Florida. This spacious 3-bedroom, 2.5-bathroom townhouse with a 1-car garage offers a functional layout, abundant natural light, and a private, low-maintenance lifestyle perfect for full-time residents, snowbirds, or investors.
$265,000

3694 Pleasant Springs DR, Naples, FL 34119
RIVERSTONE

3Bedroom(s)
2Bathroom(s)
19Picture(s)
2,081
Visits:0
DESIRABLE ONE STORY / LAKE HOME. Premium location and 1 minute walking distance to the school bus stop and Riverstone World Class Clubhouse Resort Style amenities. This home has strong protection against hurricane, the Hurricane accordion shutters allow you to secure your windows and doors in minutes. Water views are throughout the home, the home is bright with tons of natural light.
$749,500

240 12th AVE, Naples, FL 34120
GOLDEN GATE ESTATES

3Bedroom(s)
2Bathroom(s)
14Picture(s)
1,982
Visits:0
Custom beautifully built Pool home nestled in a prime location of the much desired Wilson Blvd Area in Golden Gate Estates, between Immokalee Road and Golden Gate Blvd., just minutes from all that Naples has to offer. Settled amongst a lush tropical backdrop affords beauty and privacy. Over 4600 sq ft of driveway pavers including 2 separate carports under roof to house a boat, R.V.
$779,000

5317 Dixie DR, Naples, FL 34113
NAPLES MANOR

3Bedroom(s)
2Bathroom(s)
9Picture(s)
910
Visits:0
Yes, your read that right! A single family home (with no HOA) located in South Naples, ready for you to make it your own with unlimited potential priced under 270K! This charming 3-bedroom, 1.5-bathroom home in Naples offers an unbeatable location with easy access to downtown Naples, 5th Avenue, and Marco Island.
$269,900

6053 Timberwood CIR, Fort Myers, FL 33908
TIMBERWOOD VILLAGE

3Bedroom(s)
3Bathroom(s)
20Picture(s)
1,680
Visits:0
This property presents an exceptional opportunity for investors looking to maximize their potential returns. Offered as-is, it’s the perfect project for those with a vision to renovate and enhance the value of the property. Whether you're looking to flip or rent, this property provides a solid foundation and is priced to sell quickly.
$190,000

1016 46th ST, Cape Coral, FL 33904
CAPTAINS HARBOR CONDO

2Bedroom(s)
2Bathroom(s)
30Picture(s)
1,187
Visits:0
Just Listed and priced to sell. You will love making this wonderful large condo your new home. Great bones, and incudes; Personal deeded boat dock, with remote controlled boat lift, covered awning, AND we will include the boat if you like. Your unit is only steps away from getting on your boat, and enjoying a ride, a few short minutes away to the Gulf.
$159,900

820 Ketch DR, Naples, FL 34103
MOORINGS

2Bedroom(s)
2Bathroom(s)
26Picture(s)
900
Visits:0
Welcome to 820 Ketch Drive Unit #7. Watch the sun set from your lanai at this fabulous 2-bedroom 2-bath condo in the beautiful Moorings neighborhood. WESTERN EXPOSURE! Ideal open concept is complemented by split bedrooms. Tile floor throughout - NO CARPET! Close to the best of what Naples has to offer.
$349,900

2700 6th ST, Cape Coral, FL 33993
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
17Picture(s)
1,726
Visits:0
Discover this stunning, newly constructed home in the sought-after NW Cape Coral neighborhood, available for immediate move-in! This spacious corner lot residence offers 3 bedrooms plus a versatile den, and 2 beautifully designed bathrooms. Step into an open, airy living space filled with natural light, perfect for relaxing or entertaining.
$515,000

24 21st AVE, Cape Coral, FL 33993
CAPE CORAL

4Bedroom(s)
3Bathroom(s)
34Picture(s)
1,855
Visits:0
Discover an exceptional opportunity in the thriving NW Cape Coral! This newly constructed custom home offers 1,855 square feet of refined living space, perfectly blending elegance with practicality. Featuring four bedrooms and three full bathrooms, this residence provides ample comfort for the entire family.
$449,900

15009 Cloverdale DR, Fort Myers, FL 33919
PARKER LAKES

3Bedroom(s)
3Bathroom(s)
22Picture(s)
1,568
Visits:0
Welcome to beach Paradise! Great investment opportunity!Great income! Furnished! Turn Key! New ROOF! (2022) Desirable non gated community with low HOA fees and amenities like a lap pool, community pool, basketball, tennis courts, pickets ball, play area, fishing pier and much more.
$499,000

3611 Key Lime CT, Bonita Springs, FL 34134
BONITA BAY

4Bedroom(s)
3Bathroom(s)
46Picture(s)
2,016
Visits:0
With 4 Generous sized bedrooms and 2.5 baths you can make this villa the perfect forever home. Located in the Enclave Subdivision of the highly desired Bonita Bay Development it's tucked away on a cul-de-sac location. This over-sized, ranch style home delivers not only a fantastic floor plan, but what seems as though an endless amount of living space.
$740,000

11458 Jacaranda DR, Naples, FL 34120
VALENCIA TRAILS

3Bedroom(s)
3Bathroom(s)
11Picture(s)
1,935
Visits:0
Welcome to luxury living at 11458 Jacaranda Dr.
$1,200,000
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