Fannie Mae Hybrid ARM Multifamily Loans
Our Fannie Mae Multifamily Loan Benefits
Fannie Mae Multifamily Loan rates start as low as 2.59% (as of October 20th, 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
Are you looking for an apartment loan with no balloon payment? If so, the Fannie Mae Hybrid ARM Multifamily Loan may be the perfect option for you. This 30 year loan is comprised of an initial term where interest is paid at a fixed rate. After this term ends, the loan adjusts to an adjustable rate for the remaining 30 years. This program offers competitive interest rates, low cost of execution and flexible prepayment terms.
Fannie Mae Hybrid ARM Multifamily Loans Highlights
- Loan amount must be no more than $6 million
- Properties must be existing and stabilized already
- Available for both acquisitions and refinances
- 7-year fixed rate term, followed by a 23-year adjustable-rate term
- 10-year fixed rate term 20-year adjustable-rate term
Amortization: 30 years
Maximum: LTV: 80%
Minimum: DSCR: 1.25x
Interest Rate Adjustments:
- During the adjustable rate period, interest rate adjusts based on changes to the underlying Index and is equal to the Index (30-day Average SOFR) plus the Margin.
- Various options available during the fixed rate term, including yield maintenance and declining prepayment premium.
- No prepayment premium required for any prepayment during the adjustable rate period
Recourse: Loans are non-recourse with standard carve-outs for bad boy acts
- Supplemental financing is available
- Loans are typically assumable
- Escrows are typically required for replacement reserves, taxes and insurance
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