Fannie Mae Cooperative Property Multifamily Loans

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 Cooperative Property Multifamily Loans

Are you part of a cooperative organization looking for mortgage with flexible terms for your multifamily property? If so, the Fannie Mae Cooperative Property Loan Program could be the perfect option for you. This product gives Cooperative Organizations access to multifamily loans with competitive pricing, certainty and speed of execution. Terms are flexible as they range from 5 to 30 years with up to 30 year amortization periods. In addition, these loans are non-recourse.


Fannie Mae Cooperative Property Multifamily Loans Highlights

Eligible Properties:

  • Stabilized Cooperative Properties
  • Must be in eligible markets
  • Must have an overall property condition rating of two or better

Term: 5 to 30 years

Amortization:
Up to 30 years

Maximum LTV:
55%

Minimum DSCR:
1.00x for Actual Cooperative Property operations and 1.55x for Cooperative Market Rental operations.

Prepayment Penalty:
Yield Maintenance

Recourse:
Loans are non-recourse with standard bad boy carveouts

Other Terms:

  • Interest rate is fixed
  • Supplemental financing is available
  • Loans are not typically assumable
  • Escrows for replacement reserves, taxes and insurance are required
  • Property must have management company with similar experience
  • Operating Reserve balance must be at least 10% of annual maintenance fees
  • High levels of ownership by one sponsor or investor (in excess of 40%) will require additional due diligence

 

 





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