11/03/2026
🏡 **First-Time Homebuyer Academy | Lesson 13**
💡 **Why Can Two Homebuyers Receive Different Mortgage Rates on the Same Day?**
One reason is something called **Loan-Level Price Adjustments (LLPAs)**.
LLPAs are pricing adjustments used on certain conventional mortgages, particularly loans sold to Fannie Mae or Freddie Mac.
📊 **What Factors Can Affect LLPAs?**
✅ **Credit Score:** Different credit score ranges can affect loan pricing.
✅ **Down Payment:** Your loan-to-value ratio (LTV) can influence pricing adjustments.
✅ **Property Type:** Condos, multi-unit properties, and other property types may have different adjustments.
✅ **Occupancy:** Primary residences, second homes, and investment properties may be priced differently.
✅ **Other Loan Characteristics:** Certain loan features and transaction details can also affect pricing.
💰 **How Do LLPAs Work?**
LLPAs are generally expressed as a percentage of the loan amount and may be reflected in upfront pricing, discount points, or the interest rate offered.
**Important:** LLPAs are not necessarily separate fees paid at closing, and they aren't the only factor determining your mortgage rate.
🏠 **Homebuyer Tip:** A stronger credit profile or different down payment may improve pricing, but the effect depends on the applicable loan program and pricing rules.
**Want to understand how your credit and down payment affect your mortgage options?**
📞 804-454-5527
🌐 www.jijihomeloans.com
**Jiji Home Loans LLC**
Company NMLS #2667707 | Jiji George NMLS #2230715
Licensed in VA, FL & TX | Equal Housing Opportunity
*Educational information only. Rates, fees, and loan terms depend on individual qualifications, program requirements, and market conditions. All loans are subject to underwriting and approval.*