Fannie Mae Conventional Multifamily Loan

Our Fannie Mae Multifamily Loan Benefits

Fannie Mae Multifamily Loan rates start as low as 2.54% (as of July 27th, 2021)
• No upfront application or processing fees
• Simplified application process
• Financing up to 80% LTV
• Terms and amortizations up to 30 years
• Long term fixed rates
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

Fannie Mae Conventional Multifamily Loan

The Fannie Mae Conventional Multifamily Loan is perfect for borrowers looking to acquire or refinance conventional multifamily properties. This product offers flexible loan terms, competitive pricing and certainty of execution for existing and stabilized conventional properties. These loans are non-recourse loans and can have terms as long as 30 years. Additionally, this program allows borrowers to seek max leverage with financing up to 80% LTV.


Fannie Mae Conventional Multifamily Loan Highlights

Eligible Properties:

  • Existing and stabilized conventional multifamily properties
  • Properties must have a minimum of 5 apartment units
  • Properties must have stabilized occupancy. This is usually at least 90% occupancy for 90 days

Loan Term: 5- 30 years

Amortization: Up to 30 years

Interest Rate: Both fixed and variable-rate options are available

Maximum LTV: 80%

Minimum DSCR: 1.25x

Prepayment: Fixed-rate loans can be prepaid with a yield maintenance penalty and variable-rate loans may be repaid with a declining prepayment penalty

Recourse: Loans are non-recourse with standard carve outs for “bad boy acts”

Other Terms:

  • Supplemental financing is available
  • Loans are assumable subject to review of new borrower
  • Escrows are usually required for replacement reserves, taxes and insurance
  • Loans require standard third party reports such as Appraisal, Phase 1, Environmental Site Assessment and Property Condition Assessment

 

 





Recent TRUSTPILOT Reviews

Select Commercial Funding Reviews from TRUSTPILOT

A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"