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Welcome to Chatter! We’re happy to be your source for multifamily news, research and insight. Bookmark us and be sure to sign up for our weekly newsletter to stay on top of all things financing and investment for the multifamily industry. We also invite you to follow us on Twitter. What is Chatter? So what Read the full article…

Research

How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

Around the Web

Multifamily Forecast: Investors Moving to Secondary Markets

The apartment sector has remained the darling of the commercial real estate for the past six years. This doesn’t appear to be changing anytime soon, as 2016 is expected to set a new record for multifamily mortgage origination volume. While multifamily’s position as top dog remains uncontested, savvy investors are altering their strategy for sourcing Read the full article…

GENERAL: 800.ARBOR.10

FANNIE MAE

Green Financing®

Arbor’s Fannie Mae Multifamily suite of green financing solutions includes options for acquisition, refinance, and supplemental financing.
Green Financing solutions create a “triple bottom line” by supporting increased cash flows, better quality housing, and reduced energy and water usage.

Great Incentives
  • Lower interest rate
  • Energy and water audit report 100% paid for by Fannie Mae
  • Up to 5% more in loan proceeds
Minimum Loan Amount $750,000.
Loan Term Up to 30 years.
Amortization Up to 30 years. Interest-only options also available.
Minimum DSCR Green Rewards: 1.25 Conventional, 1.20 Affordable

Green Building Certification Pricing Break: 1.25 Conventional, 1.20 Affordable

Maximum LTV Up to 80%
Rate Structure Fixed- and adjustable-rate options available.
Interest Accrual Method 30/360 and Actual/360.
Eligible Properties Conventional, Affordable, Senior, Military and Cooperative properties nationwide. Borrowers must commit to installing capital improvements that target a 30% or more reduction to the whole property’s annual energy or water use.
Eligible Borrower Single Asset Entity.
Occupancy Requirements 85% physical occupancy for 90 days. 70% economic occupancy required.
Tax & Insurance Escrows Monthly deposits required.
Replacement Reserves Monthly deposits required. Underwritten at a minimum $250 per unit per annum.
The cost of the agreed upon property improvements will be escrowed at 100% until completion.
Recourse Non-recourse available, with standard carve-outs for “bad acts” such as fraud and bankruptcy.
Commercial Space Maximum 35% of net rentable area and maximum 20% of effective gross income.
Assumable Subject to approval and 1% fee.
Required Reports Appraisal, Property Condition Assessment and Phase I Environmental. A High Performance Building report (HPB) is required. Fannie Mae reimburses 100% of the cost for the HPB subject to the loan closing.
Prepayment Yield Maintenance and other declining prepayment options are available.
Subordinate Financing Not allowed without written approval.
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock 30- to 180- commitments. Early/extended rate lock options available.
Application Deposit $30,500. Covers estimated processing and legal fees.
Origination Fee Minimum 1%. Par pricing available.
Good Faith Deposit 2% of loan amount, due at rate lock, but refundable.

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