FNMA Multifamily Small Balance Loans
Nationwide
1 Million to $6 Million
Property types: Multifamily, mobile home parks and cooperative properties
Term: 5 to 30 years
Interest Rate: 3 to 4.75% Fixed
Amortization: Up to 30 years
Maximum LTV: 80% for purchases and 75% for refinances
Minimum DSCR: 1.25
Supplemental Financing: after first 12 months of loan or when assumed
Prepayment availability: Flexible prepayment including yield maintenance and declining prepayment premium
Non-recourse in select large markets
Rate Lock: after commitment issued; streamlined for fixed rates
Accrual: 30/360 and Actual/360
Taxes & insurance escrows required for Tier II
Occupancy: 90%+ occupancy required 12 months before commitment (90%+ for 90 days case-by-case)
Assumable with lender consent and 1% fee
Borrower net worth must equal requested loan amount (cumulative net worth for all key principals)
Liquidity equal to 10% of loan amount (cumulative liquidity for all key principals)
Due Diligence Fee: $4,500 – $8,500 non-refundable for 3rd party reports and processing
Rate Lock Deposit: 1% to 2% due upon acceptance of commitment; refundable upon closing
Timing: 45-60 days from complete loan application to lender commitment letter
Let’s move your project forward…
Please click blue FNMA Multifamily Loan Link for FREE PRE APPROVAL LOI within 24 business hours. With a few clicks of your mouse it TAKES LESS THAN 3 MINUTES TO GET STARTED NOW. No upfront fees, credit cards, Social Security Numbers or credit checks required.
