Commercial Real Estate Division

Commercial Real Estate - Fannie mae

Fannie Mae Multifamily Small Loan Program Guidelines:

Eligible Properties:

  • Eligible property types include, 5+ unit traditional apartment complexes, condo properties without fractured ownership, town homes, and duplexes. Mixed-use properties with up to 35% commercial rentable space with no greater than 20% off effective gross. Scattered site properties subject to Fannie Mae review.

Loan Size:

  • $750,000 to $5 Million USD

Maximum Loan-to-Value:

  • ​​80% LTV.

Maximum CLTV:

  • 100% is possible with Joint Venture

Eligible Locations:

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

Fixed Rate Term:

  • Fixed rate terms up to 30 years. Floating rate programs available. Can customize both fixed rate term and amortization period (e.g. 12/25, 18/18, 20/20, 10/15, 25/25) to meet sponsor's investment goals and objectives.


  • 30 years. Loans are balloons. Hybrid available at a premium.

Minimum DSCR:

  • 1.25.

Minimum Occupancy:

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

Interest Only:

  • Available

Interest Accrual:

  • Actual/360 or 30/360.

Prepayment Penalty:

  • The greater of 1% or yield maintenance. Step down (e.g. 5-4-3-2-1) available.


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


  • Yes, subject to lender approval.


  • Tax and insurance required on higher leveraged loans.

Third Party Reports:

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

Sponsor Requirements:

  • 680 minimum credit score

  • Collective net worth of key principals must exceed loan amount

  • Minimum liquidity of nine months debt service

  • Local ownership no prior multifamily experience required

  • ​Absentee ownership requires two years comparable multifamily ownership experience


 Synergy Capital Markets

9453 De Soto Avenue

Suite M

Chatsworth, California 91311


Synergy Capital Markets, is an institutional alternative real estate finance investment adviser, investor and underwriter. Synergy Capital Markets does not offer, and does not offer to provide any broker dealer or market maker services. Synergy Capital Markets operates this website at (referred to as the “Website”). By accessing this Website and any pages thereof, you agree to be bound by its Terms of Use and Privacy Policy. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. We do not provide financial planning services to individual investors. Synergy Capital Markets does not provide tax advice and does not represent in any manner that the outcomes described herein will result in any particular tax consequence. Prospective investors should conduct their own due diligence, not rely on the financial assumptions or estimates displayed on this Website, and are encouraged to consult with their own financial advisor, attorney, accountant, and any other professional that can help you / them to understand and assess the risks associated with any real estate investment opportunity. Full Disclosure

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