Small Fannie Mae Low Rate Multifamily Mortgagge

 Small | Agency | Conventional | Multifamily Mortgage | Loan |Fannie Mae | ABC Capital |

ABC Capital Corp |

Small "Agency" Conventional Multifamily Mortgage Loans

Mortgage Loan Guidelines:

·        Very Competitive - Fixed  interest rate  mortgage loan for multifamily properties.

·        Loan Amounts:

o   Minimum - $500,000 ; Maximum - $3,000,000

o   (Maximum $5,000,000 in specific geographic markets)

·        Property Types: 5 or more rental units

·        Loan Term & Amortization:

o   Standard terms include 5, 7, and 10 year balloon maturities, with 25 and 30 year amortization periods (Monthly payment calculation criteria).

·        Prepayment: Yield Maintenance or Graduated Prepayment

·        Loan to Value Ratio: 75% for most loans

·        Debt Coverage Ratios: Minimum 1.25:1 (1.10 for loans less than $750,000 in specific markets)

·        Loan Features Include:

o   Full recourse

o   Assumable

o   Capital improvements may be included

o   Fixed interest rate

o   Balloon payment for balance at loan maturity

o   Streamlined process

·        Origination Fee: 1.0% ($10,000 minimum) or more.

·        Application Fee: Generally $5,000 (non-refundable). Application fee is applied to the cost of the appraisal report, additional expenses such as environmental screening, credit report, and property inspection costs. All third party reports and services must be contracted by lender

·        Pricing: Quoted daily

·        Eligible Properties: Properties with 5 or more residential units

·        Property location in stable employment community

·        Borrower/Key Principal: Single asset, single purpose entities preferred, but, not required

·        Individual Key Principals required to provide:

o   Signed Net Worth statement (financial condition)

o   Schedule of real estate owned

·        Borrower must have liquid assets equal to or greater than 6 months of debt service payments

·        General Requirements: Site Inspection and Appraisal

·        Minimum Credit (FICO) Score:  700

For additional information contact:

ABC Capital Corp:

Office:  (718) 380-7373

7 Days: (347) 551-0800


Website Builder