Synergy Capital Markets

Fannie Mae Apartment Loans for Military Housing Program Guidelines:

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Eligible Properties:

• Stabilized 5+ unit multifamily properties with a military tenant concentration greater than 20%.

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Loan Size:

• $1,000,000 with no maximum. 

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Maximum Loan-to-Value:

• ​​75% LTV.

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Maximum CLTV:

• 100% is possible with Joint Venture

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Eligible Locations:

• All 50 states, Puerto Rico, U.S. Virgin Islands, and Guam.

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Fixed Rate Term:

• Up to 30 years

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Amortization:

• 30 years. 

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Minimum DSCR:

• 1.30

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Minimum Occupancy:

• 85% physical / 80% economic for 90 days prior to closing.

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Prepayment Penalty:

• The greater of 1% or yield maintenance.

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Guarantee:

• Non-recourse for most loans subject to standard carve-outs.

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Assumable:

• Yes, subject to lender approval.

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Escrows:

• Tax and insurance required on higher leveraged loans.

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Third Party Reports:

• Appraisal, Market Study, Phase I Environmental, Engineering Report and Seismic where applicable.  

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Sponsor Requirements:

• Single asset single purpose U.S. entity.