FANNIE MAE® DUS
See our first-lien permanent mortgage loan financing options for the acquisition or refinance of conventional multifamily properties.
- Flexible loan terms.
- Competitive pricing.
- Certainty of execution.
- Speed in processing and underwriting.
- Existing, stabilized conventional properties.
- Properties with a minimum of five units.
- Credit-worthy single-asset U.S. borrower with U.S. ownership.
- Borrowers may have indirect foreign ownership interests, subject to proper structuring of the borrowing entity and its parent.
5 – 30 years.
Up to 30 years.
Fixed- and variable-rate options available.
Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding. Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.
Supplemental Loans are available.
Loans may be voluntarily prepaid upon payment of yield maintenance for fixed-rate loans and declining prepayment premium for variable-rate loans.
30- to 180-day commitments. Borrowers may lock the rate with Streamlined Rate Lock option.
30/360 and Actual/360.
Non-recourse execution is available for most loans greater than $750,000. Standard carve-outs required for “bad acts” such as fraud and bankruptcy.
Replacement reserve, tax, and insurance escrows are typically required.
Standard third-party reports required, including Appraisal, Phase I Environmental Site Assessment, and Property Condition Assessment.
Loans are typically assumable, subject to review and approval of the proposed new borrower’s financial capacity and experience.
In its prequalifying review, Lument will attempt to estimate both the loan amount and the fees and costs associated with the transaction. Actual loan amounts and actual fees and expenses may vary from the prequalifying estimates. A prequalifying estimate is not a commitment to make a loan.