- Apartment Acquisition Loans
- Apartment Construction Loans
- Apartment Refinancing Loans
- Apartment Rehab Loans
- Apartment Construction Loans FHA 221d4
- FHA 223f Apartment Loans
- FHA 223a7 Streamlined Refinance
- Fannie Mae DUS Multifamily Loans
- Fannie Mae Fixed Rate Apartment Loans
- Fannie Mae Structured Adjustable Rate Apartment Loans
- Fannie Mae Adjustable Rate Apartment Loans
- Fannie Mae Small Multifamily Loans
- Freddie Mac Fixed Rate Apartment Loans
- Freddie Mac Adjustable Rate Apartment Loans
- Freddie Mac Float To Fixed Multifamily Loans
Fannie Mae Small Multifamily Loans Program
Fannie Mae offers apartment financing options for smaller balance multifamily mortgage loans.
Fannie Mae Small Multifamily Loans Overview
Conventional properties; Multifamily Affordable Housing Properties; Seniors Housing Properties; Student Housing Properties; and Manufactured Housing Communities.
5 to 30 years
Up to 30 years
Maximum Loan To Value
Non-recourse lending available subject to certain restrictions. If recourse is required, key principals are required to execute an appropriate payment guaranty.
Escrows for Replacement Reserves may be waived if criteria are met.
Required Third-Party Reports
A Streamlined Property Condition Assessment and an Environmental Screening using the ASTM E-1528 protocol are required.
Fixed or variable options are available. View Mortgage Rates for current rates.
Loan Payment Accrual
30/360 or Actual/360
Interest Rate Lock
Interest rate lock commitments from 30 to 180 day locks are available. An early rate lock feature is also available, which allows the borrower to lock a rate after preliminary underwriting.
Non-recourse loans are typically assumable, subject to review and approval. Recourse loans may not be assumable.
Loans may be voluntarily prepaid upon payment of yield maintenance for fixed-rate loans, and graduated prepayment for adjustable rate loans.
Supplemental Loans are available
Fannie Mae Small Multifamily Loans Advantages
. Flexible loan terms, and fixed or variable rate financing options
. Competitive pricing
. Low cost of execution
. Speed in processing and underwriting
Fannie Mae Small Multifamily Loans Eligibility
. Existing, stabilized multifamily properties
. Loans up to $3 million, or up to $5 million in certain eligible metropolitan statistical areas
. Loans for acquisition or refinance
. Approved Fannie Mae Small Loan Program Lenders