Reviewed by Jeff Shin, NMLS #1041652. Updated .
Also called: LLPA, delivery fee.
What drives LLPAs
Fannie Mae publishes its LLPAs in the LLPA Matrix. The fees depend on features of the loan such as credit score, loan-to-value, loan purpose, occupancy, number of units, and product type. The matrix has separate base grids for purchases, limited cash-out refinances, and cash-out refinances, and the adjustments add up. FHFA describes these as upfront fees: Fannie Mae calls them LLPAs, and Freddie Mac calls them delivery fees.
How an LLPA reaches your quote
An LLPA is charged to the lender as a percentage of the loan amount. You do not see it as a line item. The lender builds it into the rate, or into the points you pay for a given rate. That is why crossing a credit score band or putting a little more down can change your price in steps. More on credit scores by loan type.
Who sets the fees
Fannie Mae and Freddie Mac set these fees under direction from FHFA, their regulator, and update the matrices from time to time. FHA, VA, and jumbo loans do not use them.
Related terms
Related on BankPricer
Sources
Definitions on this page are summarized from the agencies that set the rules. Lenders can add stricter requirements. Checked October 7, 2026.
Not sure which of these applies to you?
That is usually the actual question. Send the situation rather than the product name — purchase or refinance, primary or investment, price range, and timeline — and you get the structures that fit, with what each one costs.