FANNIE MAE

Loan Amount

$1 to $100 million (larger loans can be considered)

Term

5- to 30-year terms

Loan-to-value (LTV)

80% for Conventional properties; LTV varies by asset class or product type

Rate Lock

30- to 180-day commitments; borrowers may lock rate with the Streamlined Rate Lock option

Purpose

Acquisition or Refinance

Pricing

Tiered pricing based on DSCR and LTV

Amortizing DSCR

1.25x for Conventional properties
See specific asset class or product type term sheet for details

Amortization

Up to 30 years

Recourse

Non-recourse except for standard carve-outs for most loans greater than $750,000

Prepayment

Yield maintenance or prepayment premium

Property Types

Standard Multifamily, Student Housing, Manufactured Housing Communities, Cooperative Housing and Targeted Affordable Housing

Eligible Property

Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding. Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.