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Stabilized Multifamily Fannie Mae and Freddie Mac loans

5.75%+ Fixed | 10 Years | 30 Year Amortization   

FNMA & Freddie Mac SBL Program rate lock with application

Multifamily, mixed-use, mobile home parks, affordable, student, assisted living & skilled nursing care (for mixed-use, commercial space limited to 25% of net rentable area and 20% of effective gross income)

Cash-out, refinance or purchase 

Nationwide (population and location requirements may restrict availability)

SBL small balance program from $1.75 Million to $6 Million has easier underwriting requirements than larger $6 Million to $100 Million+ loans 

No upfront fees underwriting pricing and sizing loans; no application or 3rd party fees (such as appraisals) until borrower signs FHA-Hud, Fannie Mae or Freddie Mac terms sheet

Origination: 1 or 2 points

Cash-out 70% to 75% of appraised value @1.30 DSCR

Refinance 75% to 80% of appraised value @1.25 DSCR 

Finance 75% to 80% of purchase price @1.25 DSCR



Borrower requirements:

(1) On title 2+ years for similar sized & multifamily project(s) last 3 years 

(2) Liquidity must cover “cash to close” (combined all key principals)

(3) 660+ credit

(4) No bankruptcy, foreclosure or short sales in last 3 years

(5) Borrower: single asset LLC, Corporation or Partnership 

Occupancy requirements: 90% consecutive occupancy for last 90 days

No per door dollar amount

Borrower may take surplus cash distributions from operating account anytime  

Prepay: Yield maintenance with no lockout, defeasance or fixed step-down schedules

Required third party reports: MAI appraisal, physical needs assessment and environmental phase I; seismic report may be required in seismic zones 3 and 4

Property location: 100,000+ population 

Required reserves: Tax, insurance, funded repairs and replacement escrows based on engineer’s physical needs assessment; may not be required if LTV less than 65%.

Application fee: $15,000 for 3rd party reports, processing and underwriting costs

Legal fees: $8,000 to $12,000 

Rate lock: after commitment; streamlined rate lock option within 4 weeks of application 

No upfront fees. We are paid when your loan is funded at closing.

To get started, please click blue Freddie Mac & Fannie Mae Link for your PRE APPROVAL Term Sheet within 48 business hours. No upfront fees, no tax returns, no income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL.























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