{"id":133226,"date":"2025-03-14T15:51:53","date_gmt":"2025-03-14T15:51:53","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/fannie-mae-multifamily-loans-the-perfect-introduction\/"},"modified":"2025-03-14T15:51:53","modified_gmt":"2025-03-14T15:51:53","slug":"fannie-mae-multifamily-loans-the-perfect-introduction","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=133226","title":{"rendered":"Fannie Mae Multifamily Loans \u2013 The Perfect Introduction"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<h2 class=\"title\">Fannie Mae Multifamily Loans \u2013 The Perfect Introduction<\/h2>\n<p class=\"date\"> <i class=\"fa fa-calendar-o\" aria-hidden=\"true\"\/> \u00a0May 19, 2020<\/p>\n<p>Many investors take a keen interest in the multifamily real estate market. Multifamily properties have five or more rental units. The Federal National Mortgage Association (Fannie Mae) is the largest player in the multifamily finance segment. In this article, we\u2019ll introduce the role Fannie Mae plays financing multifamily properties, including the latest guidelines and Fannie Mae multifamily loan rates.<\/p>\n<h2>What are Fannie Mae Multifamily Loans?<\/h2>\n<p>Fannie Mae multifamily loans are loan guarantees, made chiefly through the Delegate Underwriting and Servicing (DUS) program. Under this program, 25 DUS lenders underwrite one-third of the risk on every Fannie Mae multifamily loan. The lenders make, close, deliver, and service loans that meet Fannie Mae multifamily guidelines.<br \/>Over 90% of the Fannie Mae multifamily financing covers workforce housing for families at or below120% of the Area Media Income.<\/p>\n<h2>How Assets America\u00ae Can Help<\/h2>\n<p>Fannie Mae is not the right answer for many multifamily projects. As discussed above, there are a lot of reasons to seek a alternative funding. We are Assets America\u00ae and we arrange real estate loans starting at $20 million. If you need a multifamily loan, contact us for an in-depth review of what we can offer. We can move faster and with less red tape, so contact us today at <a href=\"https:\/\/assetsamerica.com\/fannie-mae-multifamily-loans\/tel:(206) 622-3000\"><strong>206-622-3000<\/strong><\/a> for a private consultation, or simply fill out the below form for a prompt response!<\/p>\n<h2 class=\"textBlue text-capitalize\">Apply For Financing<\/h2>\n<div class=\"\"><noscript class=\"ninja-forms-noscript-message\"><br \/>\n\tNotice: JavaScript is required for this content.<\/noscript><\/p>\n<p>        <!-- That data is being printed as a workaround to page builders reordering the order of the scripts loaded--><\/p><\/div>\n<p>\u00a0<\/p>\n<h2>Other Fannie Mae Programs<\/h2>\n<p>In addition to the DUS program, Fannie Mae also operates the following multifamily programs:<br \/>\u2022 Multifamily Small Loan Program: This is a program with lower costs, competitive pricing, limited third-party reports, and reduced documentation.<br \/>\u2022 Affordable Housing Loan Program: Provides long-term fixed-rate debt for stabilized properties with income restrictions or regulated rents.<br \/>\u2022 Student Housing Loan Program: For multifamily properties specialized for students. The properties must lease at least 80% of the units to students, both undergraduates and graduates.<br \/>\u2022 Specialty Property Types: Multifamily loans for military housing, cooperative apartments, and manufactured community housing.<br \/>\u2022 Seniors Housing Loan Program: Mortgages for stabilized seniors housing properties, including independent living, assisted living, and Alzheimer\/dementia care.<br \/>\u2022 Manufactured Community Housing Program: Offers aggressive rates for eligible manufactured housing communities and mobile home parks. Mostly limited to four- and five-start properties.<br \/>Fannie Mae Multifamily Loan Guidelines and Rates<br \/>The guidelines vary by Fannie Mae program. Here is a summary of the Fannie Mae multifamily loan guidelines for each program. Unless otherwise noted, interest rates on 30-year loans are below 4.5%.<br \/>Fannie Mae Multifamily DUS Program<br \/>Eligible properties:<br \/>\u2022 Condos<br \/>\u2022 Co-op<br \/>\u2022 Properties with no more than 80% tenant concentration<br \/>\u2022 Residential\/commercial mixed-use<br \/>\u2022 Section 8 (tenant based)<br \/>\u2022 Stabilized 5+ unit multifamily<br \/>\u2022 Town homes<br \/>Ineligible properties:<br \/>\u2022 Condos with fractured ownership structure<br \/>\u2022 HAP contract<br \/>\u2022 Phased properties require a waiver, construction, substantial rehab\/renovation, duplex, or town home properties that are non-contiguous<br \/>\u2022 Properties belonging to an HOA<br \/>\u2022 Properties with a healthcare component<br \/>Sponsor requirements:<br \/>\u2022 680 minimum credit score with some flexibility<br \/>\u2022 Absentee ownership must demonstrate at least two years similar multifamily ownership experience, some exceptions available<br \/>\u2022 Local ownership doesn\u2019t require prior multifamily ownership experience<\/p>\n<p>Amortization 30 years, balloon<br \/>Borrower Bankruptcy remote, single purpose single asset U.S. entity<br \/>Credit facilities $25 million or higher<br \/>Current Rate Below 4.5% for 30-year loan<br \/>Impounds Tax and insurance<br \/>Interest accrual Actual\/360 or 30\/360<br \/>Interest only Available<br \/>Loan size $3 million+<br \/>Loan term 5 to 30 years<br \/>Maximum loan-to-value ratio 80%<br \/>Mezzanine financing Available<br \/>Minimum debt service coverage ratio 1.25<br \/>Minimum occupancy 85% physical\/80% economic<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate locks Yes, six months from commitment<br \/>Rate type Fixed or convertible floating<br \/>Recourse\/non-recourse Non-recourse with carveouts<br \/>Replacement reserves required? Yes<br \/>Subordinate debt permitted? No<br \/>Supplemental loan 12 months from closing date<\/p>\n<h2>Fannie Mae Multifamily Small Loan Program<\/h2>\n<p>Eligible properties:<br \/>\u2022 5+ unit traditional apartment complexes<br \/>\u2022 Condo properties without fractured ownership<br \/>\u2022 Town home<br \/>\u2022 Duplexes.<br \/>\u2022 Mixed-use properties with up to 35% rentable commercial space with no greater than 20% off effective gross<br \/>\u2022 Scattered site properties may require Fannie Mae approval<br \/>Sponsor requirements:<br \/>\u2022 Minimum credit score 680<br \/>\u2022 Combined net worth of key principals must be greater than loan amount<br \/>\u2022 Liquidity of nine months debt service, minimum<br \/>\u2022 Local ownership<br \/>\u2022 No previous multifamily experience needed<br \/>\u2022 Absentee ownership must demonstrate at least two years similar multifamily ownership experience<br \/>Amortization 30 years, balloon<br \/>Borrower Single purpose single asset entity<br \/>Current rate Below 4.5% for 30-year loan<br \/>Finance closing costs Up to 3%<br \/>Impounds Tax and insurance on higher leveraged loans<br \/>Interest accrual Actual\/360 or 30\/360<br \/>Interest only Available<br \/>Loan size $750,000 \u2013 $5 million<br \/>Loan term Up to 30 years, assumable<br \/>Maximum loan-to-value ratio 80%<br \/>Minimum debt service coverage ratio 1.25<br \/>Minimum required occupancy 90% physical\/85% economic<br \/>Nationwide availability Available<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate type Fixed or floating<br \/>Recourse\/non-recourse Non-recourse with carve-outs<br \/>Replacement reserves required? On higher leveraged loans<br \/>Subordinate debt permitted? No<br \/>Supplemental Loan Must wait 12 months from closing<\/p>\n<h2>Fannie Mae Affordable Housing Loan Program<br \/>Eligible Properties Types Include:<\/h2>\n<p>\u2022 Section 8 HAP contracts<br \/>\u2022 Expiring Low-Income Housing Tax Credits<br \/>\u2022 Refinancing of tax exempt-bonds<br \/>\u2022 Properties with existing RD 515 and RD 538 loans<br \/>\u2022 Loans insured under Section 202 and 236 of National Housing Act<br \/>Income qualifying restrictions:<br \/>\u2022 20% or more units rented to households earning at or below 50% of Area Median Income (AMI), or<br \/>\u2022 40% or more units rented to households earning at or below 60% of AMI<\/p>\n<p>Sponsor requirements:<br \/>\u2022 680 minimum credit score with some flexibility<br \/>\u2022 Sponsor should either have professional third-party management with the required experience or have experience with income\/rent restricted properties<br \/>\u2022 Absentee ownership must have at least two years <a href=\"https:\/\/assetsamerica.com\/freddie-mac-multifamily-loans\/\">similar multifamily ownership<\/a> experience<\/p>\n<p>Borrower Bankruptcy remote, single purpose single asset U.S. entity<br \/>Current rate Below 4.5% for 30-year loan<br \/>Impounds Tax and insurance<br \/>Loan size $1 million+<br \/>Loan term Up to 30 years, assumable w\/ landlord permission<br \/>Maximum loan-to-value ratio 80%<br \/>Minimum debt service coverage ratio 1.15<br \/>Minimum required occupancy 85% physical\/80% economic<br \/>Nationwide availability Available<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate lock Up to six months after commitment<br \/>Rate type Fixed or floating<br \/>Recourse\/non-recourse Non-recourse for most loans, carve-outs<br \/>Restabilization reserve At least six months debt service.<br \/>Underwritten NOI Minimum expense for specific line items<\/p>\n<h2>Fannie Mae Student Housing Loan Program<br \/>Eligible Properties:<\/h2>\n<p>\u2022 Cannot offer food service nor stand on university-owned land<br \/>\u2022 Properties, usually have undergraduate or graduate students making up at least 80% residency that serve for student housing, or constructed as conventional multifamily housing functioning solely as student housing<br \/>\u2022 Provide 12-month leases, preferably with parental guaranties<br \/>\u2022 Stabilized properties with a student tenant base that are not easily convertible to conventional multifamily housing<br \/>\u2022 Typically, eligible properties are close (two-mile radius) to a university or college with at least 10,000 students enrolled, mostly as full-time<br \/>Borrower Bankruptcy remote, single purpose single asset U.S. entity<br \/>Current rate Below 4.5% for 30-year loan<br \/>Impounds Tax and insurance<br \/>Loan size $1 million+<br \/>Loan term Up to 30 years, assumable w\/ landlord permission<br \/>Maximum loan-to-value ratio 75%<br \/>Minimum debt service coverage ratio 1.30<br \/>Minimum required occupancy N\/A<br \/>Nationwide availability Available<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate lock Up to six months after commitment<br \/>Rate type Fixed<br \/>Recourse\/non-recourse Non-recourse for most loans, carve-outs<br \/>Replacement reserves required? Yes<br \/>Sponsor requirements Strong operators with track record<br \/>Subordinate debt permitted? No<br \/>Underwritten NOI Minimum expense for specific line items<\/p>\n<h2>Fannie Mae Seniors Housing Loan Program<br \/>Eligible Properties:<\/h2>\n<p>\u2022 Assisted living<br \/>\u2022 Assisted living with Alzheimer\u2019s<br \/>\u2022 Independent living<br \/>\u2022 Properties must meet the housing needs of seniors and must have a sprinkler system<br \/>Sponsor\/operator requirements:<br \/>\u2022 Must have at least five years senior housing industry experience<br \/>\u2022 Must have experience with at least five stabilized properties<br \/>Standard third-party reports:<br \/>\u2022 Appraisal<br \/>\u2022 Consultant\u2019s Report on Operations and Management<br \/>\u2022 Phase I Environmental Assessment<br \/>\u2022 Physical Needs Assessment<br \/>\u2022 Regulatory Compliance Report for licensed seniors housing properties<\/p>\n<p>Amortization 30 years<br \/>Current rate Below 4.5% for 30-year loan<br \/>Impounds Tax and insurance<br \/>Interest accrual Actual\/360 or 30\/360<br \/>Loan size $2 million+<br \/>Loan term 30 years, assumable with lender approval<br \/>Maximum loan-to-value ratio 75%<br \/>Minimum debt service coverage ratio 1.30 \u2013 1.45<br \/>Nationwide availability Available<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate type Fixed<br \/>Recourse\/non-recourse Mostly non-recourse with carve-outs<br \/>Replacement reserves required? Yes<\/p>\n<h2>Fannie Mae Manufactured Community Housing Loan Program<br \/>Eligible Properties:<\/h2>\n<p>\u2022 Stabilized, professionally managed, high quality, mobile home parks, or manufactured housing communities having at least 50 pad sites (waivers available for parks with fewer pads)<br \/>\u2022 Amenities not required but preferred<br \/>\u2022 At least 75% tenant owned homes<br \/>\u2022 Concealed hitches and jackposts<br \/>\u2022 Conformance to appropriate Manufactured Housing HUD Code standards<br \/>\u2022 Mostly four and five-star ratings<br \/>\u2022 Leases can\u2019t provide the option to buy pad sites<br \/>\u2022 Off-street parking<br \/>\u2022 Park must have pavement<br \/>\u2022 Preference for greater than 50% double-wide homes<br \/>\u2022 Skirted homes<\/p>\n<p>Amortization 30 years<br \/>Current Rate Below 4.5% for 30-year loan<br \/>Impounds Tax and insurance<br \/>Interest accrual Actual\/360 or 30\/360<br \/>Interest only Available<br \/>Loan size $1 million+<br \/>Loan term 5 \u2013 30 years<br \/>Maximum loan-to-value ratio 75% \u2013 80%<br \/>Minimum debt service coverage ratio 1.25<br \/>Minimum occupancy 85%<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate locks Yes, six months from commitment<br \/>Rate type Fixed<br \/>Recourse\/non-recourse Non-recourse with carveouts<br \/>Replacement reserves required? Yes, $25 per pad-year, waiver available<br \/>Supplemental loan 12 months from closing date<\/p>\n<p>Fannie Mae Military Housing Loans<br \/>Eligible properties:<br \/>\u2022 Stabilized 5+ unit multifamily properties having a military tenant concentration exceeding 20%.<br \/>Amortization 30 years<br \/>Borrower Bankruptcy remote, single purpose single asset U.S. entity<br \/>Current rate Below 4.5% for 30-year loan<br \/>Impounds Tax and insurance<br \/>Loan size $1 million+<br \/>Loan term Fixed and floating rate options<br \/>Maximum loan-to-value ratio 75%<br \/>Minimum debt service coverage ratio 1.30<br \/>Minimum required occupancy 85% physical\/80% economic<br \/>Nationwide availability Select markets<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate type Fixed<br \/>Recourse\/non-recourse Non-recourse for most loans, carve-outs<br \/>Replacement reserves required? Yes<br \/>Supplemental loan 12 months from closing date<\/p>\n<h2>Fannie Mae Multifamily Cooperative\/Condo Loan Program<br \/>Eligible Properties:<\/h2>\n<p>\u2022 Stabilized co-op properties in eligible co-op property markets<br \/>\u2022 Co-op corporations with strong operating history and solid financial management<br \/>\u2022 Co-op must achieve a balanced budget by charging sufficient maintenance fees<br \/>\u2022 Limited equity co-ops for low and moderate-income households might be eligible<br \/>\u2022 Normally, the sponsor may own no more than 40% of the units<br \/>\u2022 Property management company must demonstrate experience with co-op properties of similar market and size<br \/>\u2022 Required reserve balance not less than 10% of yearly maintenance fees<br \/>\u2022 The three-year average of maintenance fee accounts receivable divided by the total annual maintenance fees cannot be greater than 3%<br \/>Amortization 30 years<br \/>Current rate Below 4.5% for 30-year loan<br \/>Interest accrual Actual\/360 or 30\/360<br \/>Loan size $1 million+<br \/>Loan term 5 \u2013 30 years<br \/>Maximum loan-to-value ratio 55%<br \/>Minimum debt service coverage ratio 1.00 (actual operations) or 1.55 (market rents)<br \/>Nationwide availability Select markets<br \/>Prepayment penalty Greater of 1% or yield maintenance<br \/>Rate type Fixed. Interest-only also available<br \/>Rate lock Six months from closing.<br \/>Recourse\/non-recourse Non-recourse for most loans, carve-outs<br \/>Replacement reserves required? Yes<br \/>Supplemental loan 12 months from closing date<\/p>\n<h2>Important Forms and Documents<\/h2>\n<p>Fannie Mae requires many forms for its DUS program. Some of these documents are not necessary for the Small Loan program.<\/p>\n<h3>Core Loan Documents<\/h3>\n<p>All of these documents and forms are mandatory:<br \/>\u2022 Assignment of Collateral Agreements<br \/>\u2022 Assignment of Security Instrument<br \/>\u2022 Environmental Indemnity Agreement<br \/>\u2022 Multifamily Mortgage Loan and Security Agreement<br \/>\u2022 Multifamily Note endorsed to Fannie Mae<br \/>\u2022 Multifamily Security Instrument<br \/>\u2022 Opinion of Borrower\u2019s Counsel on Origination of Mortgage Loan<br \/>\u2022 UCC Financing Statements and Assignments of UCC Financing Statements with Schedule A<br \/>The following are mandatory for fixed-rate loans or adjustable rate loans:<br \/>\u2022 Prepayment Premium Schedule<br \/>\u2022 Schedule 1 to Multifamily Loan and Security Agreement \u2013 Definitions Schedule<br \/>\u2022 Schedule 2 to Multifamily Loan and Security Agreement \u2013 Summary of Loan Terms.<br \/>\u2022 Schedule 3 to Multifamily Loan and Security Agreement \u2013 Schedule of Interest Rate Type Provisions<br \/>\u2022 Schedule 4 to Multifamily Loan and Security Agreement<br \/>The following are mandatory when converting to a fixed rate loan:<br \/>\u2022 Amendment to Mortgage Loan and Security Agreement (Conversion to Fixed Rate)<br \/>\u2022 Opinion(s) of Borrower\u2019s Counsel on Origination of Mortgage Loan<br \/>\u2022 Amendment to Security Instrument<br \/>The following documents may be mandatory:<br \/>\u2022 Assignment of Management Agreement<br \/>\u2022 Guaranty of Non-Recourse Obligations<br \/>\u2022 Payment Guaranty<br \/>There are additional forms required for:<br \/>\u2022 1031 exchanges<br \/>\u2022 Condominiums<br \/>\u2022 Cooperative properties<br \/>\u2022 Cross-default and cross-collateralization<br \/>\u2022 Defeasance<br \/>\u2022 FHA Risk-Sharing Mortgage Loans<br \/>\u2022 Green Mortgage Loans<br \/>\u2022 Ground leases<br \/>\u2022 HAP contracts<br \/>\u2022 Healthy Housing Rewards<br \/>\u2022 Hybrid adjustable-rate loans.<br \/>\u2022 Manufactured housing<br \/>\u2022 Master leases<br \/>\u2022 Mezzanine loan financing<br \/>\u2022 Miscellaneous loan documents<br \/>\u2022 Phased properties<br \/>\u2022 Preferred equity<br \/>\u2022 Quarterly financial reporting waiver (for Small Mortgage loans)<br \/>\u2022 Recourse loans<br \/>\u2022 Refinance loans<br \/>\u2022 Senior housing<br \/>\u2022 Streamlined rate lock loans<br \/>\u2022 Structured adjustable-rate loans<br \/>\u2022 Supplemental loans<br \/>\u2022 Tax-credit properties<br \/>\u2022 Tenants in common<br \/>You can retrieve these and other forms from the Fannie Mae website.<\/p>\n<h3>Video:\u00a0 Multifamily Explainer:\u00a0 The DUS Model<\/h3>\n<p><noscript><iframe loading=\"lazy\" title=\"Multifamily Explainer: The DUS\u00ae Model\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/EXAusfAFYLA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/noscript><\/p>\n<h2>Is a Fannie Mae Multifamily Loan Right for Me?<\/h2>\n<p>Fannie Mae multifamily loans are immensely popular, but they aren\u2019t necessarily right for every situation. Here are some points to consider.<\/p>\n<h3>Right for You<\/h3>\n<p>A Fannie Mae multifamily loan might be right for you if:<br \/>\u2022 Your needs match up to one of the various Fannie Mae multifamily loan programs.<br \/>\u2022 You are looking for a reasonably low-interest rate.<br \/>\u2022 You are pursuing affordable housing financing, perhaps paired with a Low-Income Housing Tax Credit.<br \/>\u2022 The property was a HUD legacy program but converted to Section 8 housing via the Rental Assistance Demonstration program.<br \/>\u2022 You require a relatively small loan because you like the streamlined paperwork.<br \/>\u2022 You have relatively good credit.<br \/>\u2022 You bring a net worth exceeding the loan amount.<br \/>\u2022 You have post-closing liquidity (not counting retirement accounts or loan proceeds) exceeding 10% of the loan amount.<br \/>\u2022 You meet the agency\u2019s experience requirements.<br \/>\u2022 You want the option for step-down prepayment penalties.<br \/>\u2022 You like the modest fees and legal costs.<br \/>Wrong for You<br \/>Other types of loans may be better fit if you fall into one of these categories:<br \/>\u2022 You don\u2019t meet Fannie Mae\u2019s liquidity and\/or net worth requirements.<br \/>\u2022 You require a deal that falls outside the relatively rigid rules from Fannie Mae.<br \/>\u2022 You prefer to use CMBS lenders.<br \/>\u2022 You need a loan fast. Fannie Mae loans are notoriously slow and drown you in red tape.<br \/>\u2022 You don\u2019t mind a defeasance prepayment penalty.<br \/>\u2022 You don\u2019t have the necessary replacement reserves.<br \/>\u2022 You haven\u2019t met the occupancy requirements.<br \/>\u2022 You don\u2019t want to pay more than $20,000 to apply for the loan.<br \/>\u2022 You will be an absentee owner but don\u2019t want to hire a third-party manager.<br \/>\u2022 You require subordinate debt.<br \/>\u2022 You are seeking to recapitalize your loan with the FHA.<br \/>\u2022 You prefer a life company loan because you don\u2019t need high leverage or long amortizations. These loans have aggressive interest rates. They are best suited for loans in the $2 million to $15 million range rather than larger Class A infill-type products.<br \/>\u2022 You want smaller prepayment penalties and closing costs, often available from bank loans.<br \/>\u2022 You prefer risk-adjusted pricing that allows you increase leverage and reduce execution risk.<\/p>\n<h2>How the Process Works<\/h2>\n<p>Although there are many documents to complete, the actual process has just a few main steps:<br \/>1. Contact a lender authorized to make Fannie Mae multifamily loans.<br \/>2. Discuss the various programs available and study the term sheets of each one that interests you.<br \/>3. See if you prequalify for a Fannie Mae multifamily loan. You\u2019ll have to submit the following:<br \/>a. Current Rent Roll\/Occupancy Report (with move-in and lease-end dates)<br \/>b. Interior\/Exterior Photos of the Property (or property website)<br \/>c. Personal Financial Statement (including a schedule of real estate owned)<br \/>d. Real Estate Resume (if you don\u2019t currently own multifamily properties)<br \/>e. Trailing 12 Month Operating Statement<br \/>4. If you decide to apply, make a due diligence deposit (typically up to $15,000) to pay for:<br \/>a. Appraisal<br \/>b. Environmental engineering report<br \/>c. Structural engineering report<br \/>d. Zoning report<br \/>e. All lender and agency inspections<br \/>f. Title search<br \/>5. Submit all the required forms.<br \/>6. If you receive approval, schedule the closing. It usually takes about 45 to 60 days to close on a Fannie Mae multifamily loan.<br \/>7. Prepare for the closing, where you\u2019ll likely spend up to another $10,000 or more on the following:<br \/>a. Legal costs<br \/>b. Securitization costs<br \/>c. Origination fees<br \/>8. Close on the loan.<\/p>\n<h2>Frequently Asked Questions<\/h2>\n<p>What is the origination fee on Fannie Mae multifamily loans?<br \/>Typically, the origination fee on a Fannie Mae multifamily loan is at least 1%. Application fees may exceed $20,000, and there are more closing costs as well. The lender sets the origination fee.<br \/>What can I change on the Fannie Mae documents?<br \/>Naturally, you can fix any incorrect information you put on a Fannie Mae document. In addition, you may want to change some of the loan terms, such as fixed vs adjustable rate, loan term, and loan amount.<br \/>Does Freddie Mac own my loan?<br \/>Typically, Freddie Mac would not own a Fannie Mae loan. You can go onto the Freddie Mac website and use its self-service loan look-up tool. Normally, the sponsor will be pool and securitize your loan.<br \/>What aspects of the loan can you negotiate?<br \/>You may be able to negotiate the prepayment penalty aspects of your loan. In addition, you may be able to demonstrate you have the required experience even if it\u2019s a marginal call. Your lender will let you know which items are negotiable and which aren\u2019t.<\/p>\n<h2>Related Articles<\/h2>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Fannie Mae Multifamily Loans \u2013 The Perfect Introduction \u00a0May 19, 2020 Many investors take a keen interest in the multifamily real estate market. Multifamily properties have five or more rental units. The Federal National Mortgage Association (Fannie Mae) is the largest player in the multifamily finance segment. In this article, we\u2019ll introduce the role Fannie [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":110917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[50961,14570,11404,8117,17653,1277],"dealstore":[],"offerexpiration":[],"class_list":["post-133226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-fannie","tag-introduction","tag-loans","tag-mae","tag-multifamily","tag-perfect"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fannie Mae Multifamily Loans \u2013 The Perfect Introduction - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=133226\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fannie Mae Multifamily Loans \u2013 The Perfect Introduction - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Fannie Mae Multifamily Loans \u2013 The Perfect Introduction \u00a0May 19, 2020 Many investors take a keen interest in the multifamily real estate market. Multifamily properties have five or more rental units. The Federal National Mortgage Association (Fannie Mae) is the largest player in the multifamily finance segment. 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