Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Fannie Mae Program
Fannie Mae Conventional Multifamily Loan
The Fannie Mae Conventional Multifamily Loan is one of the Fannie Mae multifamily programs Select Commercial arranges nationwide. Its highlights and terms are below, and you can compare it on our Fannie Mae multifamily page or view today’s commercial mortgage rates.
Get a Free QuoteAbout the Conventional Multifamily Loan
The Fannie Mae Conventional Multifamily Loan is designed for borrowers acquiring or refinancing conventional multifamily properties, with flexible terms, competitive pricing and certainty of execution for existing, stabilized properties. Loans are non-recourse, can run up to 30 years, and allow up to 80% LTV.
Program Highlights & Terms
- Eligible Properties: Existing, stabilized conventional multifamily; minimum 5 units; stabilized occupancy (usually 90% for 90 days)
- Loan Term: 5 to 30 years
- Amortization: Up to 30 years
- Interest Rate: Both fixed and variable-rate options available
- Maximum LTV: 80%
- Minimum DSCR: 1.25x
- Prepayment: Fixed-rate loans use yield maintenance; variable-rate loans use a declining penalty
- Recourse: Non-recourse with standard carve-outs for bad acts
- Other Terms: Supplemental financing available; assumable subject to review; escrows for replacement reserves, taxes and insurance; standard third-party reports (appraisal, Phase 1 ESA, property condition assessment)
Terms are indicative and set by Fannie Mae underwriting for your specific property.
What Our Clients Say
“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“I found selectcommercial.com and saw they specialized in apartment building loans. In the end, they were by far the best company I have used. Next time I know who to call first.”
Jerry T. · Long Island, NY“As a real estate attorney, I trust that Select Commercial will deliver apartment building loans and commercial mortgages in a timely manner. The rates and terms offered are excellent. I heartily recommend them.”
David S. · New York CityGet Your Fannie Mae Quote
No cost, no obligation. Written answers within 48 hours on multifamily loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up