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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130 Placid DR, Fort Myers, FL 33919
DEEP LAGOON ESTATES

3Bedroom(s)
2Bathroom(s)
38Picture(s)
1,424
Visits:0
Welcome to your dream waterfront retreat! This move-in ready, direct sailboat access pool home offers 100 feet of seawall, dock power for larger boats, and working davits?just minutes from open water. Recently upgraded, the home features HIGH IMPACT Doors and windows, new granite countertops, stainless appliances, solid surface flooring, and beautifully renovated bathrooms.
$795,000

3731 13th ST, Lehigh Acres, FL 33971
LEHIGH ACRES

3Bedroom(s)
3Bathroom(s)
29Picture(s)
1,452
Visits:0
EXPECTED TO BE READY IN AUGUST. Welcome to your brand-new home at 3731 13TH ST W in Lehigh Acres. With 1,452 square feet of elegant living space and a total of 2,044 square feet, this home effortlessly combines modern style, quality craftsmanship, and everyday comfort. The neutral color palette throughout the home allows you the flexibility to personalize your space effortlessly.
$359,000

44275 Panther DR, Punta Gorda, FL 33982
BABCOCK RANCH

3Bedroom(s)
2Bathroom(s)
17Picture(s)
1,801
Visits:0
EXQUISITE NEW CONSTRUCTION VILLA IN PREMIER 55+ GATED COMMUNITY WITH LUXURY AMENITY CENTER! Welcome to The Khaya – a stunning, move-in ready villa thoughtfully crafted for those seeking refined comfort, elegant design, and a vibrant, carefree lifestyle.
$390,000

2824 27th ST, Cape Coral, FL 33993
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
16Picture(s)
1,469
Visits:0
NEW CONSTRUCTION WITH WARRANTY! The Cayo Costa delivers an open-concept living area and split bedoom floor plan with three bedrooms plus a den and two baths. Created for entertaining, the main living area features a vaulted ceiling that connects the kitchen with a large freestanding island, dining area, and Great Room with sliding doors to the covered lanai.
$325,990

4114 24th TER, Cape Coral, FL 33993
CAPE CORAL

3Bedroom(s)
3Bathroom(s)
2Picture(s)
1,931
Visits:0
Experience stylish Florida living in this newly completed home, thoughtfully designed to meet all your desires. With 1,931 square feet of elegant living space, you'll enjoy lavish tile flooring and soaring ceilings from the moment you enter. This home offers an open floor plan with modern finishes ideal for the Florida lifestyle.
$415,000

43773 Sparrow DR, Punta Gorda, FL 33982
BABCOCK RANCH

2Bedroom(s)
2Bathroom(s)
41Picture(s)
1,631
Visits:0
Elegant 2-Bedroom + Den Townhouse in The Preserve at Babcock Ranch Welcome to a rare opportunity to own a beautifully upgraded two-bedroom plus den townhouse in **The Preserve at Babcock Ranch**, America’s first solar-powered town. This home combines elegant design, thoughtful upgrades, and an ideal location to create a lifestyle that’s both refined and relaxed.
$339,900

1516 50th ST, Cape Coral, FL 33914
PORTO VISTA CONDO

2Bedroom(s)
2Bathroom(s)
50Picture(s)
1,280
Visits:0
PARADISE FOUND !!! LIVE THE FLORIDA LIFESTYLE IN THIS PRISTINE TURNKEY FURNISHED 2 BEDROOM 2 BATHROOM CONDO IN THE BEAUTIFUL SW CAPE CORAL GATED COMMUNITY OF PORTO VISTA !!! LUXURIOUS FIRST FLOOR UNIT WITH SCREENED IN LANAI. SPACIOUS LIVING AND DINING AREA, PLUS BREAKFAST BAR, 2024 NEW STAINLESS STEEL WHIRLPOO APPLIANCES, PLUS NEW 2025 FULL SIZE WASHER AND DRYER IN A SPACIOUS LAUNDRY ROOM.
$224,900

12880 Kelly Bay CT, Fort Myers, FL 33908
KELLY GREENS GOLF AND COUNTRY CLUB

3Bedroom(s)
3Bathroom(s)
32Picture(s)
1,797
Visits:0
Step into luxury and ease with this fully remodeled home located in one of the area’s most desirable bundled golf communities. Every inch of this residence has been thoughtfully updated—from the stylish flooring and modern lighting to the sleek, redesigned kitchen with quartz countertops and stainless steel appliances.
$499,500

914 14th ST, Naples, FL 34117
GOLDEN GATE ESTATES

3Bedroom(s)
2Bathroom(s)
1Picture(s)
1,258
Visits:0
Welcome to your Tropical retreat in beautiful Naples! This well-maintained 3-bedroom, 2-bathroom home offers the perfect blend of comfort, style, and Florida living. Nestled in a quiet, desirable neighborhood.
$565,000

251 Palm DR, Naples, FL 34112
GLADES

2Bedroom(s)
2Bathroom(s)
26Picture(s)
1,215
Visits:0
Wonderful second floor 2/2 unit looking out on the water of the Pines Golf Course. BRAND NEW A/C UNIT. Updated kitchen. Fresh coat of paint on the interior. New fans. This is Florida living at it's finest! As a resident of the Glades Golf and Country Club owners get access to the two gorgeous golf courses. The Palmetto is a par 55 and the Pines is a par 70. Both courses were recently updated.
$164,900

857 HOOSIER ST, Lehigh Acres, FL 33971
LEHIGH ACRES

4Bedroom(s)
2Bathroom(s)
9Picture(s)
1,499
Visits:0
Under Construction. Brand new concrete block smart home by America’s Builder!! The Freeport is our newest 4/2/2 1499 Square Feet under air and 1980 total, Open Concept/split bedroom plan, that maximizes the use of space making it feel incredibly Larger than it appears.
$327,800

723 FOXTAIL ST, Lehigh Acres, FL 33974
LEHIGH ACRES

4Bedroom(s)
3Bathroom(s)
12Picture(s)
2,020
Visits:0
Under Construction - This all concrete block constructed, one-story layout optimizes living space with an open concept. As you enter the foyer you are greeted with two guest bedrooms and a guest bath. On the opposite side of the foyer is a convenient linen closet, laundry room and a fourth bedroom with its own ensuite bath. The well-equipped kitchen overlooks the living area and lanai.
$383,525

1804 29th TER, Cape Coral, FL 33914
CAPE CORAL

3Bedroom(s)
2Bathroom(s)
41Picture(s)
1,512
Visits:0
STUNNING, $170,000 in upgrades! Completely remodeled oasis epitomizes luxury and sophistication, offering unparalleled elegance and contemporary comforts. Step into a breathtaking space where every detail has been meticulously crafted. The upgraded kitchen is a chef's paradise, boasting state-of-the-art appliances and sleek finishes.
$550,000

206 PEMBROKE ST, Lehigh Acres, FL 33974
LEHIGH ACRES

3Bedroom(s)
3Bathroom(s)
26Picture(s)
1,055
Visits:0
: New Construction Home - 3 Beds, 3 Baths Seller offer closing costs. Includes stainless steel appliances, impact windows and doors, one-car garage. This house has a full bathroom with an additional exterior entrance, which adds value to the property, as the garage can be converted into an extra bedroom.
$289,999

2712 42ND ST, Lehigh Acres, FL 33976
LEHIGH ACRES

4Bedroom(s)
2Bathroom(s)
15Picture(s)
1,828
Visits:0
Under Construction. The appealing one-story home includes many contemporary features, and an open-concept design with 8’8" ceilings that enhance the wonderful feel of this home. The well-appointed kitchen includes a large island perfect for bar-style eating or entertaining, a walk-in pantry, and plenty of cabinets and counter space.
$347,490

3401 59TH ST, Lehigh Acres, FL 33971
LEHIGH ACRES

4Bedroom(s)
2Bathroom(s)
15Picture(s)
1,828
Visits:0
Under Construction. The appealing one-story home includes many contemporary features, and an open-concept design with 8’8" ceilings that enhance the wonderful feel of this home. The well-appointed kitchen includes a large island perfect for bar-style eating or entertaining, a walk-in pantry, and plenty of cabinets and counter space.
$359,380

1064 Hampton CIR, Naples, FL 34105
STRATFORD PLACE

3Bedroom(s)
3Bathroom(s)
32Picture(s)
1,716
Visits:0
Experience refined modern living in this stunning end-unit townhouse, offering 1,716 square feet of beautifully designed space. Every room features breathtaking panoramic lake views, creating a peaceful and elegant atmosphere throughout the home. With 3 spacious bedrooms and 2.
$429,999

3013 26TH ST, Lehigh Acres, FL 33974
LEHIGH ACRES

4Bedroom(s)
2Bathroom(s)
15Picture(s)
1,828
Visits:0
Under Construction. The appealing one-story home includes many contemporary features, and an open-concept design with 8’8" ceilings that enhance the wonderful feel of this home. The well-appointed kitchen includes a large island perfect for bar-style eating or entertaining, a walk-in pantry, and plenty of cabinets and counter space.
$358,240
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