Fannie Mae Loans

Non-recourse, assumable fixed rate financing for the acquisition or refinance of stabilized multifamily rental or cooperative properties.

Key Features

  • Non-Recourse
  • Assumable
  • Fixed Rate
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Details
  • 5-, 7-,10-, or 15-year balloon; 20-, 25-, or 30-year amortizing options.
  • Up to 30-year amortization (fullterm interest-only available)
  • Nationwide availability
  • Borrower: Domestic single-asset borrowing entity
  • Third-Party Reports: MAI Appraisal, Physical Needs, Environmental Phase I; Seismic Report (if applicable)
  • Reserves: Tax, insurance, and repair reserves required (may be waived for low-LTV loans with no deferred maintenance)
  • Loan-to-Value (LTV): Up to 80% of appraised value or purchase price (if purchased in the last 12 months)
  • Debt Coverage Ratio (DCR): Minimum 1.25x
  • Origination Fee: Minimum 1% (varies for loans over $9M)
  • Closing Timeline: 30-45 days (dependent on due diligence and thirdparty reports)
  • Rate Lock: After commitment issuance; expedited Streamlined Rate Lock available
  • Prepayment options: Yield Maintenance, Defeasance, or customized step-down
  • Loans are assumable with lender approval (1% assumption fee + $3,000 processing fee)
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All loans are subjectto credit approval. Terms and conditions may apply.