mortgagetape™Reference Tools · LLPA Reference Grid
What it does
The current Fannie Mae and Freddie Mac loan-level price adjustment schedules, side by side — FICO×LTV base grid plus the attribute adjusters (cash-out, investor, 2nd home, manufactured, high-balance, subordinate financing, etc.) and the LLPA cap.
What’s in it:
- Base FICO×LTV grid for Fannie and Freddie at the current vintage, cell-by-cell in bps.
- Attribute adjusters — cash-out refi, investment property, second home, manufactured housing, high-balance, condo/co-op, subordinate financing, Freddie CRT exemption bins.
- LLPA cap displayed where applicable (first- time homebuyer limited-cash, etc.).
- Vintage picker — the grid tracks every announced schedule, so you can price a loan against the LLPA that was in effect on a historical lock date.
Sample questions this answers in one click:
- “LLPA at 720 FICO / 85% LTV on a Fannie purchase.”
- “Freddie Credit Fee for a cash-out refi, 700 / 70%.”
- “What was the LLPA on this scenario before the May 2023 revisions?”
Who finds this useful: rate-sheet engineers, secondary- marketing desks, underwriting managers, and anyone building a lender overlay above the agency grid.
What this is not: an actual rate quote. For a market-anchored quote decomposition see the Price Inverter; for the model-estimated residual risk-rank beyond the published grid see the LLPA Overlay scoring model.