Articles

Top SFR Annual Rent Growth Markets

Even as rents retreated elsewhere, single-family rentals (SFR) have continued to outperform all other housing sub-types, exceeding the all-property type national average in 17 consecutive months through February 2024, according to Zillow’s Observed Rent Index (ZORI). Annual SFR rent growth has seen substantial gains in many metropolitan areas since national rent growth peaked in March 2022. In this deep dive, the Chandan Economics and Arbor Realty Trust research teams pinpoint the metropolitan areas where SFR rents are rising the fastest.

Articles

Arbor’s New True Colors Show Our Creativity and Green Roots

For more than 30 years, Arbor has been committed to growing financial partnerships that meaningfully impact communities nationwide. From planting trees to celebrate closed loans to supporting environmental organizations, our work has always been a win-win for our financial partners and the planet. But just as leaves change with each passing season, Arbor’s branding is evolving to seize the moment by embracing our roots with True Colors.

Articles

Five Advantages of Adding Fannie Mae Green Rewards to a Multifamily Loan

Since the Fannie Mae Green Rewards program launched in 2015, green financing has become a mainstay of commercial real estate. In addition to reducing the environmental impact of multifamily housing, the Green Rewards program creates a triple bottom line with increased cash flows, higher quality housing, and lower energy and water usage. With a high upside and little downside, the program is well worth multifamily borrowers’ consideration.

Articles

CRE Solutions for a Greener Planet Build Momentum

From California wildfires to rising sea levels to Florida hurricanes, the direct and indirect risks of climate change have grown in recent years, making a more substantial impact on the multifamily sector. As the need for sustainability becomes increasingly apparent, lawmakers and lenders have advanced programs and policies that show “going green” is a win-win.

Current Reports

Affordable Housing Trends Report Spring 2024

As housing costs spiral, rental affordability has become a more urgent issue, burdening a greater number of Americans. Arbor’s Affordable Housing Trends Report Spring 2024, developed in partnership with Chandan Economics, examines the major policies and programs shaping the marketplace at a time when overdue federal funding expansions have increased agency budgets.

Articles

What Is Driving Lifestyle Renter Demand?

Lifestyle renters — those who have the means to own but prefer to rent or are willing to pay more for apartments with amenities — have become a key driver of rental demand in single-family rental homes, build-to-rent communities, and other types of high-quality multifamily housing. With this small yet influential demographic growing, our research teams examine and explain the factors driving lifestyle renter demand.

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FANNIE MAE DUS®

Choice Refinance

Arbor’s Choice Refinance product offers a streamlined refinance execution for Fannie Mae Portfolio Mortgage Loans in good standing.

Loan Amount No minimum loan amount (subject to change)
Loan Term Standard DUS options available (5- to 30-year terms)
Amortization Generally 30 years
Minimum DSCR 1.25x DSCR calculated according to standard DUS underwriting guidelines
Maximum LTV 80%; if cash-out, 75%
Rate Structure Fixed- and adjustable-rate options available
Pre-Review Mortgage Loans Prereview mortgage loans are no longer prohibited for Choice Refinance loans; generally, no prereview is required if the prereview category for the portfolio mortgage loan was previously approved by Fannie Mae
Benefits Benefits include:

  • Flexible refinancing and increased lender delegation
  • Lower costs from reduced documentation
  • Speed in processing and underwriting
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 Requirements Nonrecourse except for standard carve-outs
Prepayment After the expiration of the yield maintenance period, the required 1% prepayment premium may be reduced or waived in certain circumstances; prepayment premium due may be paid from the proceeds of the new loan
Assumable Subject to approval and 1% fee
Supplemental Financing DUS supplemental loans are permitted after the Choice Refinance loan has been in place for one year

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