FANNIE MAE DUS®
Manufactured Housing Community Loans
Arbor’s DUS MH product provides competitive pricing, flexible terms, and functions as a major source of liquidity for community owners.
| Loan Amount | $3,000,000 minimum. |
| Loan Term | 5 to 30 years. |
| Amortization | Up to 30 years. |
| Minimum DSCR | 1.25x |
| Maximum LTV | 80%. If cash-out, 75%. |
| Rate Structure | Fixed- and adjustable-rate options available. |
| Eligible Properties | Manufactured/Mobile Housing with a minimum of 50 pad sites; 50% or more double-wide sites required. Must be rated a 3 to 5 star property. |
| Eligible Borrower | Single Asset Entity. |
| Occupancy Requirement | 90% physical occupancy. 5% limit on non-owner occupied. |
| Tax & Insurance Escrows | Monthly deposits required. |
| Replacement Reserves | Underwritten at a minimum $50 per MH Site. |
| Recourse | Non-recourse execution with standard carve-outs for “bad acts” such as fraud and bankruptcy. |
| Commercial Space | Eligible |
| Required Reports | Appraisal, Property Condition Assessment, Phase I Environmental. |
| Prepayment | Yield Maintenance or declining pre-payment provision. |
| Assumable | Subject to approval and 1% fee. |
| Supplemental Loans | Eligible for secondary financing after 12 months. |
| Pricing | Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV. |
| Rate Lock | Standard 30- to 180-day rate lock period. 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. |
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