Report Form Test 2023 06

Investor Purchases, New Starts, and Tenant Performance Show Strength as Cap Rates Rise Arbor’s Single-Family Rental Investment Trends Report Q1 2023, developed in partnership with Chandan Economics, explores a growing multifamily sector with a unique ability to rise above macroeconomic headwinds. Last year, investors purchased more single-family rental (SFR) units than in 2021 as uncertainty Read the full article…

Current Reports

Single-Family Rental Investment Trends Report Q1 2023

Arbor’s Single-Family Rental Investment Trends Report Q1 2023, developed in partnership with Chandan Economics, explores a growing multifamily sector with a unique ability to rise above macroeconomic headwinds. Last year, investors purchased more single-family rental (SFR) units than in 2021 as uncertainty rippled through the commercial real estate industry. Construction in the sector also ramped up in 2022, with starts reaching all-time highs by unit count and market share. This upward trend, fueled by significant structural support, sets SFR apart from many other commercial real estate sectors.

Articles

Top Counties for Demographic Tailwinds

When apartment investors consider locations for capital deployment, growth potential is a top-of-mind concern. On a local level, population changes can influence everything from rent growth to occupancy to future property values. County-level positive net migration and natural population growth trends, identified in an analysis of U.S. Census Bureau data, reveal the counties where demographic tailwinds make a compelling case for real estate investment.

Single-Family Rental Investment Trends Report Q1 2023

Investor Purchases, New Starts, and Tenant Performance Show Strength as Cap Rates Rise Arbor’s Single-Family Rental Investment Trends Report Q1 2023, developed in partnership with Chandan Economics, explores a growing multifamily sector with a unique ability to rise above macroeconomic headwinds.   Last year, investors purchased more single-family rental (SFR) units than in 2021 as Read the full article…

Articles

Affordable Housing Market Snapshot — Spring 2023

Arbor’s latest Affordable Housing Trends Report, developed in partnership with Chandan Economics, offers a wide-ranging lens into the complex, though critically important, affordable and workforce housing sectors.

Articles

Seven Facts about FHA Multifamily Loans for Affordable Housing

The Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD), is one of the largest mortgage insurers in the world. The agency insures mortgages on affordable housing, multifamily properties, single-family homes, multifamily properties, and health care facilities. Since 1934, FHA has financed over 50,000 multifamily mortgages nationwide. Whether you’re interested in acquiring, refinancing, or rehabilitating an affordable housing property, FHA multifamily loans are a financing route you need to know about.

Articles

Video Analysis: Arbor’s Affordable Housing Trends Report Spring 2023

In this video, Sam Chandan, professor of finance and Director of the Chen Institute for Global Real Estate Finance at the NYU Stern School of Business, discusses the key findings of Arbor’s Affordable Housing Trends Report Spring 2023, developed in partnership with Chandan Economics. He adds context to the Federal, state, and local housing policy trends impacting the future of the affordable sector, which, he notes, continues to have the highest development prospects of any residential subtype.

GENERAL: 800.ARBOR.10

FANNIE MAE DUS®

Cooperative Apartment Financing

Arbor’s Cooperative Apartment Financing program provides blanket mortgage financing for cooperative multifamily housing.

Loan Amount $750,000 minimum
Loan Term 5 to 30 years
Amortization Up to 30 years
Minimum DSCR 1.0x for cooperative; 1.55x as market rental project
Maximum LTV 55% (on a market rental basis)
Rate Structure Fixed rate
Eligible Properties Cooperative projects, minimum five units, property condition rating of two or better, limited equity cooperative properties for low- and moderate-income families
Eligible Borrower Single asset cooperative corporations
Market Acceptance Property must be located in an area evidencing strong market acceptance of cooperative housing
Occupancy Requirement 85% physical occupancy and 70% economic occupancy for 90 days prior to commitment date
Tax & Insurance Escrows Monthly deposits required
Replacement Reserve Underwritten at a minimum $250 per unit per annum
Recourse Nonrecourse execution available with standard carve-outs for “bad acts” such as fraud and bankruptcy
Commercial Space Eligible
Required Reports Appraisal, Property Condition Assessment and Phase I Environmental
Prepayment Loans may be voluntarily prepaid upon payment of yield maintenance
Subordinate Financing Available through Fannie Mae supplemental loan program
Pricing Tiered pricing matrix; more favorable terms available for higher DSC and lower LTV
Rate Lock 30- to 180-day commitments; borrowers may lock a rate with the Streamlined Rate Lock option
Application Deposit $20,500; covers estimated processing and legal fees
Origination Fee Minimum 1%; par pricing available
Good Faith Deposit 2% of loan amount, due at rate lock, refundable post-closing

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