FNMA Commercial Loans
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Fannie Mae ARM 7-6
DESCRIPTION
Fannie Mae Multifamily offers a 7-year
variable-rate financing option with an embedded cap and an option to
convert
Benefits
• Attractive low-cost financing
• Maximum interest rate is set at rate lock
• Convertible to a fixed-rate loan with minimal
re-underwriting
• No minimum or maximum loan size
LOAN TERM
7 years
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Fannie Mae Structured Adjustable-Rate Mortgage Loan
DESCRIPTION
Fannie Mae’s Multifamily Mortgage Business offers
long term financing with a very competitive variable interest rate
that is convertible to a fixed rate.
Benefits:
Attractive low-cost financing
Convertible to fixed-rate financing
Flexible prepayment options
Ability to choose interest rate cap
Eligibility:
Existing, stabilized multifamily properties,
including: Conventional, Multifamily Affordable Housing. Seniors
Housing, Student Housing, and Manufactured Housing Communities.
Moderate Rehabilitation Loans may be eligible on a case-by-case basis
Credit Enhancements and Substantial
Rehabilitation are not eligible
Loans of $25 million or more
Loans for acquisition or refinance
LOAN TERM
5, 7, or 10 years
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DUS® Fixed Rate Program
DESCRIPTION
Non-recourse, assumable fixed rate financing for
the acquisition or refinance of stabilized multifamily rental or
cooperative properties.
LOAN AMOUNT
Minimum $3 million
LOAN TERM
5-, 7-, 10-, or 15-year balloon; 20-, 25-, or
30-year fully amortizing.
DUS® Student Housing Loan Program
DESCRIPTION
Non-recourse, fixed and adjustable rate financing
for the acquisition or refinance of stabilized Student Housing
properties where greater than 40% of the units are leased to
undergraduate or graduate students.
LOAN AMOUNT
Minimum $3 million
LOAN TERM
5-30 years
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DUS® Manufactured Housing Property Lending
DESCRIPTION
Non-recourse, fixed and adjustable rate financing
for the acquisition or refinance of stabilized manufactured home
communities where the Borrower owns the Manufactured Housing Community
(MHC) sites and associated common amenities and infrastructure, and
leases the individual pad sites to the owners of the manufactured
homes.
LOAN AMOUNT
Minimum $1 million
LOAN TERM
5 – 30 years
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DUS® Supplemental Financing
DESCRIPTION
Non-recourse, supplemental financing available on
existing, fixed or floating, stabilized DUS Conventional properties,
Multifamily Affordable Housing Properties, Seniors Housing Properties,
Student Housing Properties, and Manufactured Housing Communities loans
serviced by he Lender as a property’s value and income stream
increase. Bond Credit Enhancement transactions are eligible with prior
approval of Fannie Mae. Fannie Mae must be the only debt holder on the
property.
LOAN TERM
Supplemental loans can be coterminous or
non-coterminous; 5-30 years.
LOAN TIMING
Supplemental Loans are available 12 months after
the closing of the senior Fannie Mae Mortgage Loan.
Fannie Mae Unfunded Forward Multifamily
Affordable Housing
DESCRIPTION
Fannie Mae provides a 24- to 30-month forward
commitment with or without rate lock prior to delivery of the
permanent loan.
PROPERTY TYPE
Multifamily; new construction and rehabilitation.
LOAN AMOUNT
Minimum $1 million
LOAN TERM
Up to 30 years
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Fannie Mae Small Mortgage Loans
DESCRIPTION
Streamlined fixed rate and variable rate
financing for multifamily, manufactured housing and cooperative
properties up to $6 million
LOAN AMOUNT
Up to $6 million in all markets.
LOAN TERM
5, 7, 10, 12, 15, 18 and 30 year fixed and
variable-rate terms.
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Fannie Mae Seniors Housing Program
DESCRIPTION
Non-recourse, assumable financing for the
acquisition or refinance of stabilized independent living (IL) and
assisted
living (AL) properties; Properties that assist
residents with memory care (MC) are eligible for financing under
Fannie Mae’s Seniors Housing Program; Properties
should have achieved and sustained at least an average of
90% occupancy for the preceding 90 days; Newly
constructed and stabilized Senior Housing properties, as well as
campuses containing skilled nursing beds, are
eligible for financing under Fannie Mae’s Senior Housing program,
on a case-by-case basis; Buildings must be fully
sprinklered; At least 80% of the beds must be private pay unless a
waiver is granted; Buy-In and Rental Continuing
Care Retirement Communities (CCRC’s) are also eligible, on a caseby-
case basis
LOAN AMOUNT
Minimum $5 million, with exceptions on a
case-by-case basis. Supplemental Loans are available under the Fannie
Mae Seniors Housing Program.
LOAN TERM
5-, 7-, 10-, 15-, or 18-year balloons; 20-, 25-,
and 30-year fully amortizing.
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DUS® Bond Credit Enhancement
DESCRIPTION
Fannie Mae provides credit enhancement for
tax-exempt multifamily housing revenue bonds that have low- and
moderate-income occupancy restrictions. Fixed rate bonds can be
enhanced. Enhancement is rated AA, and can be used in either a new
bond issuance, “Refunding,” or a “Credit Substitution.”
LOAN AMOUNT
Minimum $3 million
LOAN TERM
10 to 30 years.
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Fannie Mae Structured Adjustable-Rate Mortgage Loan
DESCRIPTION
Fannie Mae’s Multifamily Mortgage Business offers long term financing with a very competitive variable interest rate that is convertible to a fixed rate.
Benefits:
Attractive low-cost financing
Convertible to fixed-rate financing
Flexible prepayment options
Ability to choose interest rate cap
Eligibility:
Existing, stabilized multifamily properties,
including: Conventional, Multifamily Affordable Housing. Seniors
Housing, Student Housing, and Manufactured Housing Communities.
Moderate Rehabilitation Loans may be eligible on a case-by-case basis
Credit Enhancements and Substantial
Rehabilitation are not eligible
Loans of $25 million or more
Loans for acquisition or refinance
LOAN TERM
5, 7, or 10 years
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DUS® Fixed Rate Program – Multifamily Affordable Housing Preservation
DESCRIPTION
Non-recourse, fixed rate financing for the
acquisition or refinance of stabilized multifamily rental properties
that meet Fannie Mae’s definition of Affordable Housing.
AFFORDABILITY REQUIREMENTS
An MAH Property must have rent, income and/or
occupancy restrictions that meet or exceed one of the following
requirements:
“20% @ 50%”: at least 20% of all units have rent
or income restrictions in place such that the rents charged for those
units are affordable to households earning no more than 50% of Area
Median Income (AMI) as adjusted for family size; or
“40% @ 60%”: at least 40% of all units have rent
or income restrictions in place such that the rents charged for those
units are affordable to households earning no more than 60% of AMI as
adjusted for family size.
Section 8 Housing Assistance Payment (HAP)
contract: at least 20% of all units are subject to a project-based HAP
contract; or
Special Public Purpose: the Property (i) has
other rent and/or income restrictions, and (ii) meets a noteworthy
special public purpose. Such a Property may be considered on a waiver
basis for eligibility as an MAH Property.
LOAN AMOUNT
Minimum $1 million
LOAN TERM
7 to 30 years.
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Fannie Mae Affordable Small Loan
Description
Streamlined underwriting for long-term fixed rate
financing for the acquisition or refinance of stabilized multifamily
rental properties with rent and income restrictions, and/or Section 8
HAP Contracts
Loan Amount
$1,000,000 – $5,000,000 in Baltimore, Boston,
Chicago, Los Angeles, New York, Philadelphia, Portland, Sacramento,
San Diego, San Francisco, San Jose, Seattle and Washington DC.
$1,000,000 – $3,000,000 in all other markets.
Loan Term
7 to 30 years
Fannie Mae Green Rewards
Description
Provides lower pricing, additional loan proceeds,
and a free Energy and Water Audit Report to finance smarter,
greener property improvements. Eligible
improvements include new ENERGY STAR® appliances, energy efficient
HVACs, low-flow toilets, LED Lighting, and more.
Benefits
Lower interest rate, free energy and water audit
report, up to 5% more loan proceeds, increased net cash flow by
underwriting projected energy and water cost
savings, no minimum investment per unit, attract more investors with
the market’s only Green MBS.
Eligibility
All Asset Classes (excluding Manufactured Housing
Communities) with at least 12 months of Stabilized Residential
Occupancy; a Manufactured Housing Community is
not eligible. Property owner must commit to property
improvements that are projected to reduce the
whole property’s annual energy and/or water usage by at least 30%,
of which a minimum of 15% must be attributable to
projected savings in energy consumption. Improvements must be
installed within 12 months of loan origination.
Properties may be located anywhere in the U.S. Only Green Rewards
loans that are projecting greater than 5% additional loan proceeds are Pre-Review.
IMPORTANT: This is not an offer to make a loan, all requests are subject to normal due-diligence and final approval under conditions that are standard for the specific transaction. The above terms and conditions are subject to change without prior notice and other terms and conditions apply.