Commercial Real Estate Division
Commercial Real Estate - Fannie mae
Fannie Mae Apartment Loans for Military Housing Program Guidelines:
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Eligible Properties:
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Stabilized 5+ unit multifamily properties with a military tenant concentration greater than 20%.
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Loan Size:
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$1,000,000 with no maximum.
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Maximum Loan-to-Value:
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​​75% LTV.
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Maximum CLTV:
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100% is possible with Joint Venture
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Eligible Locations:
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All 50 states, Puerto Rico, U.S. Virgin Islands, and Guam.
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Fixed Rate Term:
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Up to 30 years
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Amortization:
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30 years.
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Minimum DSCR:
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1.30
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Minimum Occupancy:
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85% physical / 80% economic for 90 days prior to closing.
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Prepayment Penalty:
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The greater of 1% or yield maintenance.
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Guarantee:
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Non-recourse for most loans subject to standard carve-outs.
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Assumable:
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Yes, subject to lender approval.
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Escrows:
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Tax and insurance required on higher leveraged loans.
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Third Party Reports:
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Appraisal, Market Study, Phase I Environmental, Engineering Report and Seismic where applicable.
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Sponsor Requirements:
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Single asset single purpose U.S. entity.