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FANNIE MAE DUS

Small Loan Program

Fannie Mae’s Multifamily Mortgage Business offers a streamlined loan process for fixed and variable-rate Mortgage Loans up to $9 million nationwide.

BENEFITS

  • Low cost of execution.
  • Competitive rates.
  • Delegated model provides Lenders and
    Borrowers speed of execution.
  • Team with experience and scale to
    support this unique market.
  • Single asset security allows the most
    flexibility in the market.
  • Extensive experience serving the small
    loan market.
  • Streamlined third-party reports.
  • ELIGIBILITY
    • Conventional Properties; Multifamily Affordable Housing Properties; Cooperative Properties
      (market rate); and Manufactured Housing Communities.
    • Existing, stabilized multifamily Properties.
    • Properties with 5 or more units.
    • Loans for acquisition or refinance.
  • LOAN AMOUNT

    Up to $9 million nationwide.

  • Term

    5 – 30 years.

  • Amortization

    Up to 30 years.

  • Interest Rate

    Fixed and variable-options available.

  • Maximum LTV

    80%.

  • Minimum DSCR

    1.25x.

  • Supplemental Financing

    Supplemental Mortgage Loans are available.

  • Prepayment Availablity

    Flexible prepayment options available, including yield maintenance and declining prepayment premium.

  • Rate Lock

    30- to 180-day commitments. Borrowers may rate lock using the Streamlined Rate Lock option.

  • Accrual

    30/360 and Actual/360.

  • Recourse

    Non-recourse execution with standard carve-outs for “bad acts” such as fraud and bankruptcy.

  • Escrows

    Replacement reserves, tax, and insurance escrows are typically required for higher leverage transactions.

  • Third-Party Reports

    Streamlined inspection and Environmental Screening using the ASTM E-1528-14 protocol.

  • Assumption

    Non-recourse Small Mortgage Loan are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience.

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