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…


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.


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.


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.

Current Reports

Small Multifamily Investment Trends Report Q1 2023

The small multifamily subsector, strengthened by sound structural fundamentals, is well-positioned to face distress due to interest-rate pressure. Even though pricing has slid lower and cap rates have risen, it should remain resilient in the coming quarters. A deep dive into a uniquely positioned subsector, Arbor’s Small Multifamily Investment Trends Report Q1 2023, developed in partnership with Chandan Economics, analyzes the competing headwinds and tailwinds influencing investment performance.


Arbor Wins Prestigious Fannie Mae Excellence in Technology Award

Fannie Mae Multifamily recently honored Arbor with its prestigious 2022 DUS Lender Award for Excellence in Technology, citing it as “a constant source of innovative ideas” and “a stalwart partner” in driving “Fannie Mae’s digital transformation for the DUS community.”


U.S. Multifamily Market Snapshot — Q1 2023

The U.S. multifamily market continued to show signs of slowing during the first quarter of 2023. Rent growth was down from the skyrocketing pace seen in 2021 and 2022, although demand remained strong and vacancy held near historic lows.



Healthy Housing Rewards®, Enhanced Resident Services, and Healthy Design

Arbor’s Fannie Mae Multifamily offers Healthy Housing Rewards, a product feature that provides lower pricing to finance affordable properties with healthy design features. Enhanced Resident Services is a product feature that provides lower pricing to finance affordable properties with enhanced resident services that improve the health and stability of their residents including health and wellness services, work and financial capability support, and more. Healthy Design is a product feature that provides lower pricing to finance affordable properties with health-promoting design and operational features including playgrounds, fitness equipment, tobacco-free environments, green spaces, and more.

  • Lower interest rate
  • Healthy Design: Reimbursement for Healthy Design Certification (up to $6,500)
  • Enhanced Resident Services: Reimbursement for initial Sponsor certification (CORES) and Enhanced Resident Services Property certifications
  • Flexible underwriting to specific affordable developments
  • Flexible loan terms, and fixed- or variable-rate financing options
  • Certainty and speed of execution
  • Affordable Housing Properties with at least 50% of the units affordable at 80% of Area Median Income or less
  • Healthy Design: Must obtain Healthy Design certification from an approved Fannie Mae provider.
  • Enhanced Resident Services: Must obtain Sponsor certification and Property-level certification from an approved Fannie Mae provider
  • One-time benefit per borrower per property; Healthy Design and Enhanced Resident Services cannot be combined
Pricing Healthy Design: 15 basis points discount
Enhanced Resident Services: Up to 30 basis points discount
Term 5-30 years
Amortization Up to 35 years
Healthy Design Certification Certification fee is reimbursed up to $6,500 by Fannie Mae
Enhanced Resident Services Certification Sponsor Certification: Cost of initial Sponsor certification is reimbursed 100% by Fannie Mae; Sponsor must obtain recertification every 5 years
Property Level Certification: Initial certification cost of property-level compliance will be 100% reimbursed by Fannie Mae; Borrower must obtain yearly property certification.
Interest Rate Fixed- and variable-rate options available
Maximum LTV Varies by product type
Minimum DSCR Varies by product type
Prepayment Availability Flexible prepayment options are available including yield maintenance and declining prepayment premium
Loan Amount No minimum or maximum
Rate Lock 30- to 180-day commitments. Borrowers may lock the interest rate using Streamlined Rate Lock option. Confirmation of Healthy Design certification or sponsor-level and property-level certifications is required prior to rate lock
Interest Accrual 30/360 and Actual/360
Recourse Non-recourse execution is available, with standard carve-outs for “bad acts” such as fraud and bankruptcy required
Third-Party Reports Standard third-party reports, including Appraisal, Phase I Environmental Assessment and a Property Condition Assessment, are required. Confirmation of Healthy Housing Rewards features and eligibility is required
Assumption Loans are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience


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