The World's Best LLPA Calculator
Use our Loan-Level Price Adjustment (LLPA) calculator to see how your credit score, loan-to-value ratio (LTV), and other factors affect the cost of a conventional mortgage. This tool is based on Fannie Mae's most recent LLPA pricing matrix.
LLPA Calculator
Calculate your Loan-Level Price Adjustment (LLPA) using the Fannie Mae LLPA pricing matrix.
Last Updated: August 20, 2025
Loan-Level Price Adjustments
LLPA Breakdown
Financial Profile
Loan Basics
Loan Details
Property Details
Disclaimer: This calculator provides estimates based on Fannie Mae 2024 LLPA matrix. Your actual LLPA may vary. We are not a lender. For accurate conventional mortgage pricing, consult with a mortgage lender.
How to Calculate Your Loan-Level Price Adjustment (LLPA)
Follow these simple steps to calculate your LLPA using our free calculator.
Choose Your Loan Purpose
Select whether you're buying a home, refinancing your current rate, or doing a cash-out refinance. Cash-out refinances are limited to 80% LTV maximum.
Select Your Credit Score
Choose your FICO credit score range. Higher scores (780+) typically qualify for the lowest LLPAs, while scores below 700 may see significant adjustments.
Set Your Down Payment
Choose your loan-to-value ratio (LTV). Larger down payments reduce LLPAs. At 40% down (60% LTV), most credit score penalties shrink considerably.
Define Property Details
Select your occupancy type (primary residence, second home, or investment) and property type (single-family, condo, 2-4 unit, or manufactured home).
Choose Loan Characteristics
Select between fixed-rate and adjustable-rate mortgages, standard vs high-balance loans, and whether you'll have subordinate financing (like a HELOC).
Review Your LLPA Breakdown
See your base LLPA plus all applicable adjustments. The calculator shows how each factor affects your total LLPA and potential mortgage rate impact.
Trusted by Home Buyers Nationwide
Our LLPA calculator has helped thousands of home buyers understand their pricing adjustments and make informed decisions.
"This calculator helped me understand why my investment property had higher costs. I was able to adjust my down payment to get better pricing."
- Michael R., Real Estate Investor
"I love how it breaks down all the adjustments. The educational content helped me understand what factors were driving up my costs."
- Sarah M., First-time Homebuyer
"No registration required and completely free. I used it to compare different down payment scenarios and it helped me decide on 20% down to avoid PMI."
- Jennifer L., Homebuyer
Trusted by home buyers nationwide
Join the growing community of users who rely on our calculator for accurate LLPA estimates
Why Choose Our LLPA Calculator?
Our LLPA calculator stands out from other tools with comprehensive features and accurate calculations based on Fannie Mae's latest pricing matrix.
Complete LLPA Breakdown
Unlike basic calculators, ours shows base LLPA plus all applicable adjustments for occupancy, property type, ARM, high-balance, and subordinate financing.
Fannie Mae's Latest Matrix
Based on the most recent LLPA pricing matrices from Fannie Mae, ensuring you get current and accurate pricing adjustments.
All Loan Purposes Supported
Calculate LLPAs for purchase, rate/term refinance, and cash-out refinance loans with accurate purpose-based adjustments.
No Registration Required
Unlike bank calculators that require account creation, our tool is completely free and accessible without any signup.
Affordable Program Support
Includes HomeReady® and Home Possible® program support with automatic LLPA waivers and cash credits for eligible borrowers.
Educational Content
Learn about LLPA components and factors that affect your pricing, not just get a number like other calculators.
Understanding Loan-Level Price Adjustments
How LLPAs Work
Loan-level pricing adjustments (LLPAs) are risk-based fees that affect conventional mortgage pricing:
- Base LLPA
- Starting point based on your credit score and loan-to-value ratio (LTV). This is where the FICO/LTV matrix determines your initial adjustment.
- Risk Adjustments
- Additional fees for higher-risk factors like investment properties, condos, ARMs at high LTVs, and subordinate financing.
- Total LLPA is the sum of base LLPA plus all applicable risk adjustments. This total affects your mortgage rate.
Factors That Affect Your LLPA
- Credit Score
- Higher scores (780+) typically qualify for the lowest LLPAs. Adjustments increase as scores fall, especially under 700.
- Down Payment
- Larger down payments reduce LLPAs. At 40% down (60% LTV), most credit score penalties shrink considerably.
- Occupancy Type
- Primary residences have the lowest LLPAs. Second homes and investment properties carry higher adjustments.
- Property Type
- Single-family homes typically have lower LLPAs than condos, multi-unit properties, and manufactured homes.
- Loan Purpose
- Purchase loans typically have lower LLPAs than refinances. Cash-out refinances may have the highest adjustments.
- Loan Type
- Fixed-rate mortgages are the baseline. ARMs may have additional adjustments at specific LTV bands.
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Compare options →Types of Mortgage Loans
Conventional
Traditional loans with LLPAs based on risk factors. Most flexible terms and competitive rates.
- • 3-20% down payment
- • LLPA-based pricing
- • Flexible credit requirements
FHA
Government-backed loans with no LLPAs. Uses MIP instead of PMI.
- • 3.5% down payment
- • No LLPAs
- • Lower credit requirements
VA
Special loans for veterans with no LLPAs. Uses funding fees instead.
- • 0% down payment possible
- • No LLPAs
- • Competitive rates
USDA
Rural development loans with no LLPAs. Uses guarantee fees instead.
- • 0% down payment
- • No LLPAs
- • Available in rural areas
Frequently Asked Questions
What is an LLPA?
A loan-level price adjustment (LLPA) is a risk-based fee applied to conventional loans by Fannie Mae and Freddie Mac. LLPAs vary based on factors like credit score, loan-to-value (LTV), occupancy, property type, and loan purpose.
Do LLPAs show up as a line item at closing?
Not usually. Most lenders convert LLPAs into your interest rate. Instead of a separate fee, you'll see a slightly higher rate if your loan carries LLPAs.
Who is affected by LLPAs?
Most conventional conforming mortgages sold to Fannie Mae or Freddie Mac. Government-backed loans (FHA, VA, USDA) do not use LLPAs.
Are there waivers or credits?
Yes. First-time home buyers with qualifying incomes (≤100% of area median income, or 120% in high-cost areas) can get LLPA waivers under HomeReady® or Home Possible®. Other affordable housing or special program loans may also receive reduced LLPAs.
Can I reduce my LLPA?
You can lower LLPAs by improving your credit score, making a larger down payment, choosing a lower-risk property type, or using an eligible program that offers LLPA waivers or credits.
How much do LLPAs cost?
LLPAs typically range from 0% up to about 3.5% of the loan amount, depending on risk factors. Most borrowers see adjustments in the 0.25% to 1.5% range.
Do LLPAs apply to refinances?
Yes. Cash-out refinances usually have the highest LLPAs. Limited cash-out refinances and rate-and-term refinances have smaller adjustments, but the exact amount depends on credit score and LTV.
What credit score gets the best LLPA?
Borrowers with scores of 780+ typically qualify for the lowest LLPAs. Adjustments increase as scores fall, especially under 700. The highest LLPAs apply below 640.
Related Tools and Resources
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Check the maximum loan amounts for your area by county and loan type.
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Read the guide →Down Payment Assistance
Find programs that may help you with your down payment and closing costs.
Find programs →Note: This calculator is based on Fannie Mae's December 5, 2024 LLPA pricing matrix. For the most current and accurate LLPA calculations, consult with your mortgage lender who has access to real-time pricing data.
