Affordable Housing Small Mortgage Program
For acquisition or refinance of stabilized multifamily properties with rent and income restrictions and/or Section 8 HAP contracts
Nationwide
Fannie Mae and Freddie Mac
$1.3 Million to $5 Million in Baltimore, Boston, Chicago, Los Angeles, New York, Philadelphia, Portland, Sacramento, San Diego, San Francisco, San Jose, Seattle and Washington DC.
$1.3 Million to $3 Million in all other markets.
3.5% to 4% fixed
Origination: 2 points
Term: 10 years
Amortization: 30 years
LTV: 80%
Nonrecourse
Assumable for 1% fee
Requires one of the following:
- 20%+ of all units have rent or income restrictions to households earning no more than 50% of area median income (“AMI”)
- 40%+ of all units have rent or income restrictions in place to households earning no more than 60% of AMI
- 20%+ of all units subject to a project-based Section 8 HAP contract
To get started, please click the blue Affordable Housing Small Mortgage Program Link for your free PRE APPROVAL LOI within 48 business hours. With a few clicks of your mouse it TAKES LESS THAN 6 MINUTES to submit your online loan request. No upfront fees, credit cards, Social Security Numbers or credit checks are required.