Fannie Mae Manufactured Housing Community 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 Manufactured Housing Community Multifamily Loan

Are you looking to finance the acquisition or refinance of a manufactured housing community? If so, the Fannie Mae Manufactured Housing Community Multifamily Loan program may be the perfect option for you. This program provides financing solutions tailored specifically to each deal. The pricing is extremely competitive and the speed and certainty of execution are hard to beat. These loans offer terms and amortizations of up to 30 years, are generally non-recourse and can get up to 80% LTV.


Fannie Mae Manufactured Housing Community Multifamily Loan Highlights

Property and Borrower Eligibility:

  • Property must be an existing and stabilized manufactured housing community
  • Must be professionally managed
  • Must have at least 50 pad sites
  • At least one key principal should have similar experience
  • Tenant-occupied homes should not exceed 35%
  • Homes should conform to applicable HUD Code standards
  • Leases with 2-year terms or longer must not contain a tenant option to purchase the pad site

Term: 5 to 30 years

Amortization: Up to 30 years

Interest Rate: Both fixed and variable rate options are available

Maximum LTV: 80%

Minimum DSCR: 1.25x

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

Prepayment Penalty: Flexible options are available including yield maintenance and declining penalties

Other Terms:

  • Loans are typically assumable
  • Supplemental financing is available
  • Escrows for replacement reserves, taxes and insurance are generally required

 

 





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