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FNMA $1 Million to $5 Million Affordable Housing Loans


3 to 4.5% fixed

Refinance, cash-out and purchase loans

Streamlined underwriting

Property types: stabilized multifamily with rent & income restrictions and/or Section 8 HAP Contracts.

$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.

Affordability: Must have rent and income restrictions that meet or exceed one of the following:

  • At least 20% of all units have rent or income restrictions to households earning no more than 50% of Area Median Income (“AMI”)
  • At least 40% of all units have rent or income restrictions in place to households earning no more than 60% of AMI
  • At least 20% of all units subject to project-based Section 8 HAP contract

Loan Term: 7 to 30 years

Amortization: 30 years

Prepayment Penalty: Yield maintenance formula with 1% minimum (Declining Percentage Fee schedule available upon request)

Non-recourse subject to lender discretion

Debt Service Coverage: 1.20x+

Loan to Value: 80%

Supplemental mortgages available after 12 months or with a loan assumption

Non-recourse loans assumable with lender consent and 1% fee

Net worth equal to loan amount and liquidity equal to 6 months P&I required

Rate Lock after commitment issued

Due Diligence Fee: $15,000 non-refundable fee for legal, 3rd party reports and processing

Good Faith Rate Lock Deposit: 1% due upon acceptance of commitment refundable at closing

Timing: 45-60 days from complete application to commitment

Let’s Move your project forward…

Please click blue FNMA Small Balance Affordable Multifamily Loan  Link for FREE PRE APPROVAL LOI within 24 business hours. With a few clicks of your mouse it TAKES LESS THAN 4 MINUTES TO GET STARTED NOW. No upfront fees, credit cards, Social Security Numbers or credit checks required.

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