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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1103 37th TER, Cape Coral, FL 33909
CAPE CORAL

4Bedroom(s)
2Bathroom(s)
39Picture(s)
1,774
Visits:0
Welcome to your dream waterfront lifestyle in Cape Coral! This stunning new construction home offers the perfect blend of modern comfort and Florida's natural beauty, nestled on an extra wide canal that provides exceptional water access and views. Step inside to discover 1,774 square feet of thoughtfully designed living space featuring four spacious bedrooms and two well-appointed bathrooms.
$344,900

9247 Dimmick DR, Sanibel, FL 33957
BELLE MEADE

3Bedroom(s)
2Bathroom(s)
36Picture(s)
2,373
Visits:0
Nestled in the heart of the island, this stunning residence offers an unmatched living experience, surrounded by pristine nature and views. Built by the developer of the subdivision and with attention to resistance and sustainability. No damage to the home from Helene or Milton.
$899,000

306 Wilmington PKWY, Cape Coral, FL 33993
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
22Picture(s)
1,199
Visits:0
COME CHECK OUT THIS OPPORTUNITY THIS OWN A HOME IN CAPE CORAL FOR UNDER $250K! Nestled in a prime location close to shopping and entertainment. This cozy home offers a recently updated roof from 2024, ensuring years of worry-free living.
$225,000

1450 Aqui Esta DR, Punta Gorda, FL 33950
PUNTA GORDA ISLES

3Bedroom(s)
2Bathroom(s)
6Picture(s)
1,674
Visits:0
MUST WATCH THE VIDEO – Fisherman’s Paradise on One of PGI’s Widest & Deepest Canals! 1450 Aqui Esta Dr presents a rare opportunity to rebuild or reimagine a home on a 200'+ wide sailboat-access canal, with depths over 20 feet—ideal for larger vessels and a dream for serious anglers.
$340,000

67 Pebble Beach BLVD, Naples, FL 34113
LELY COUNTRY CLUB

3Bedroom(s)
2Bathroom(s)
30Picture(s)
1,716
Visits:0
Available NOW! Welcome to this charming 3-bedroom, 2-bath single-family pool home on an oversized corner lot in the desirable Lely Golf Estates of Naples. This well-maintained residence features a newer kitchen with stainless steel appliances and quartz countertops, a spacious living area, and a large driveway for added convenience.
$688,000

910 25th ST, Cape Coral, FL 33914
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
36Picture(s)
1,189
Visits:0
Great starter Home in Cape Coral. This charming single-family home in Cape Coral is full of potential! Whether you're a first-time buyer looking for a place to make your own or an investor seeking your next rental or flip, this property is a must-see. Roof (2021) HVAC (2024) Garage Opener and Washer are dryer were also just replaced.
$300,000

11771 Pine Timber LN, Fort Myers, FL 33913
GATEWAY

4Bedroom(s)
3Bathroom(s)
44Picture(s)
2,515
Visits:0
Now offered at $549,000 -- Unmatched value for a home NOT in a flood zone! Move-in-ready pool home is packed with upgrades and loaded with charm. Located in the peaceful Timber Ridge community. This home combines luxury and convenience under a new roof (2023) and with low HOA fees.
$549,000

207 Collier BLVD, Marco Island, FL 34145
MARCO ISLAND

2Bedroom(s)
2Bathroom(s)
24Picture(s)
863
Visits:0
Welcome to Seawatch—perfectly located just across from Marco Island’s Residents’ Beach! This 2-bedroom, 2-bath condo offers coastal comfort and convenience with tile, wood-look flooring. Enjoy a bright, open layout ideal for relaxed living or entertaining. Located close to shopping, dining, and local parks, this condo provides easy access to everything Marco Island has to offer.
$479,900

2801 12th LN, Cape Coral, FL 33993
CAPE CORAL

3Bedroom(s)
3Bathroom(s)
46Picture(s)
1,640
Visits:0
IF YOU WANT TO ENJOY CITY LIVING WHILE STILL HAVING THE LUXURY OF A SPACIOUS HALF-ACRE LOT, THIS IS YOUR CHANCE! This stunning 3-bedroom, 2.5-bathroom home with an den/office and a 2-car garage is situated in a peaceful residential area, offering the perfect blend of privacy and convenience. Inside, you'll find a double-door entryway, tile flooring throughout, and an open-concept layout.
$449,900

2124 7th PL, Cape Coral, FL 33909
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
22Picture(s)
1,167
Visits:0
Back on the market!! This 3-bedroom, 2-bathroom home located in beautiful Cape Coral offers a desirable floor plan with a 2-car garage. The spacious yard provides ample room for a pool, playset, or other outdoor activities. The home has undergone several recent updates, including re-piping in May 2024, and a new roof, well, siding, and exterior paint in 2022.
$274,900

222 Victoria AVE, Lehigh Acres, FL 33974
TWIN LAKE ESTATES

4Bedroom(s)
3Bathroom(s)
45Picture(s)
1,719
Visits:0
BRAND NEW LOVELY HOME ON A BEAUTIFUL BACKYARD CANAL! Imagine your kids fishing right in the back of their home instead of playing video games! 🙂 Constructed with care and dedication. Offering CLOSING INCENTIVES!!! This 4-bed 3 full bathroom home has a floor plan designed for big families in a very nice, CENTRAL, but quiet, and low-traffic area.
$379,900

9670 Gladiolus Preserve CIR, Fort Myers, FL 33908
GLADIOLUS PRESERVE

4Bedroom(s)
2Bathroom(s)
36Picture(s)
1,938
Visits:0
Effortless Florida living awaits in this stylish 4-bedroom, 2-bathroom pool home nestled in the gated community of Gladiolus Preserve.
$479,000

1829 41st ST, Cape Coral, FL 33904
CORAL DEL RIO CONDO

2Bedroom(s)
2Bathroom(s)
28Picture(s)
1,456
Visits:0
Wow what a view! Take in panoramic views of intersecting canals from this bright and spacious 2-bedroom, 2-bath end-unit in the well-maintained Coral Del Rio community. Located on the ground floor, this private corner condo offers quick, unrestricted access to the Gulf—a rare find for boating enthusiasts.
$275,000

1950 Don Benito WAY, Naples, FL 34120
TERRENO AT VALENCIA

3Bedroom(s)
3Bathroom(s)
36Picture(s)
2,114
Visits:0
New construction Prestige, available now! Upgrades include white cabinetry with quartz countertops, a recycled glass mosaic backsplash, built in KitchenAid appliances, tray ceiling in the gathering room, oversized shower in the owners suite, extended lanai, outdoor kitchen pre plumb, cabinets and countertops in laundry, tile flooring throughout, 8' interior doors, pool or spa electrical pre-wire,
$641,175

15901 Royal Pointe LN, Fort Myers, FL 33908
MAJESTIC PALMS

3Bedroom(s)
2Bathroom(s)
21Picture(s)
1,394
Visits:0
Welcome to 15901 Royal Pointe Lane, Unit 301, a charming condo nestled in the desirable Iona neighborhood of Fort Myers, Florida. This residence offers a comfortable and convenient lifestyle within a vibrant community. Built in 2023, this condo features modern construction and design elements that cater to contemporary living.
$345,000

41300 Horseshoe RD, Punta Gorda, FL 33982
HORSESHOE ACRES

3Bedroom(s)
2Bathroom(s)
14Picture(s)
1,848
Visits:0
Country living on 5.2 Acres. Can't even see your next door neighbors turn key House with shed and chicken coop has been cleared and leveled 15 years ago Long Shell Road house is in back of property Additional Notes Prices firm.
$799,000

1955 Riviera AVE, Clewiston, FL 33440
PIONEER PLANTATION

3Bedroom(s)
2Bathroom(s)
12Picture(s)
1,456
Visits:0
Escape to this serene 2.5-acre country retreat—perfect for those craving peace, privacy, and a break from city life. This home offers more than just a place to live—it delivers a lifestyle surrounded by nature. Step inside to a spacious open-concept living area featuring a modern kitchen with a generous breakfast bar, ideal for entertaining or quiet mornings at home.
$354,900

777 Walkerbilt RD, Naples, FL 34110
RIVERBEND MOBILE HOME PARK

2Bedroom(s)
1Bathroom(s)
12Picture(s)
738
Visits:0
A boater's dream! Low common charges on land you own with direct access to the Gulf within 10 minutes. A 2 bed, 1 bath home in this 55+ community, completely remodeled with a ton of extras. All Electric and all water pipes have been replaced, Brand new 3/4 in. subfloor with 5/8 in. plywood on top of that , a layer of Dura Rock between the floor and the tile/ carpet.
$350,000
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