Fannie Mae (FNMA) Multifamily Lending

Fannie Mae Large and Small Balance Loan Programs for the Acquisition and Refinance of Multifamily Properties.

Fannie Mae (FNMA) is an agency lender that provides non-recourse debt for multifamily properties, including apartments, senior housing, and student housing.

Fannie Mae offers multiple programs depending on the size of loan and number of units within the property. For apartments and manufactured housing loans up to $5 million, Fannie Mae has a Small Mortgage Loan program. This streamlined underwriting makes these transactions easier for the borrower and provides long-term fixed and variable rate financing.  In the third quarter of 2017, Fannie Mae unveiled their Hybrid ARM program that was designed to provide flexibility in loan term, while still providing high leverage.

Fannie Mae's large balance program is utilized for loans greater than $3 million. The large balance program offers high leverage, non-recourse debt for larger transactions. This program also provides an array of terms, up to a 30-year fully amortizing loan.

Fannie Mae Large Balance Program

Description

Non-recourse financing for the acquisition or refinance of stabilized multifamily properties. Fannie Mae large balance loans are assumable. Cash-out is available.

Fannie Mae Loan for Apartments in Oregon and Washington.

McBride Capital arranges a $3,900,000 loan for the refinance of Cottages at Sunset Lodge in Walla Walla, WA.

McBride Capital is pleased to announce the refinance of a 45 unit multifamily property in Walla Walla, WA. The refinance of this 45-unit multifamily property was originated by Ken McBride through the Fannie Mae Small Mortgage Loan Program

Loan Amount

Minimum $3 million

Loan Term

5, 7, 10, and 15-year fixed. 20, 25, and 30-year fully amortizing.

Amortization

Up to 30 Years

Max Loan to Value

80%

Debt Service Coverage

Minimum 1.25x

Interest Only

1 year is generally included, with longer IO periods available with waiver.

Prepayment Terms

Yield Maintenance with no lockout, defeasance, or fixed, step-down prepayment schedules.

Fannie Mae Small Mortgage Loan Program

Description

For borrowers purchasing or refinancing small multifamily properties, the nationwide small mortgage loan program offers highly competitive terms and a streamlined execution that can close in as fast as 30 days. Small mortgage loans are non-recourse and assumable.

Loan Amount

$750,000 to $5,000,000 in select markets

Loan Term

5, 7, 10, or 15-year fixed-rate period. 

or

30 year hybrid ARM with initial 7, or 10-year fixed rate period

Amortization

Up to 30 Years

Max Loan to Value

75% for refinance, 80% for acquisitions

Debt Service Coverage

1.25x minimum

Interest Only

Partial term interest only is available

Prepayment Terms

Yield maintenance. Declining percentage fee schedule available

5335 Meadows Road Suite 250 Lake Oswego OR 97035

503 624 5800

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