Fannie Mae DUS®
Standard
Arbor provides competitive, tiered pricing for acquisition or refinance of multifamily projects nationwide, including recently completed projects.
Loan Amount | Over $6 million |
Loan Term | Up to 30 years |
Amortization | Up to 30 years. Interest-only options also available |
Minimum DSCR | 1.25x |
Maximum LTV | Up to 80% |
Rate Structure | Fixed and adjustable rate options available |
Eligible Properties | Multifamily, minimum five units |
Eligible Borrower | Single Asset Entity |
Occupancy Requirements | 85% physical occupancy and 70% economic occupancy required |
Tax & Insurance Escrows | Monthly deposits required. May be waived if certain criteria are met |
Replacement Reserves | Underwritten at a minimum $250 per unit per annum |
Recourse | Nonrecourse |
Commercial Space | Maximum 35% of net rentable area and EGI (after applying 10% vacancy rate) |
Required Reports | Appraisal, Property Condition Assessment, Phase I Environmental |
Prepayment | Yield Maintenance and declining prepayment available |
Assumable | Subject to approval and 1% fee |
Subordinate Financing | Not allowed without written approval |
Supplemental Loans | Eligible for secondary financing after 12 months |
Pricing | Tiered Pricing Matrix. More favorable terms available for higher DSCR and lower LTV |
Rate Lock | Standard 30- to 180-day commitments |
Application Fee Deposit | $20,500. Covers estimated processing and legal fees |
Origination Fee | Minimum 1% |
Good Faith Deposit | 2% of Loan Amount |
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