About Chatter

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 DUS®

Multifamily Affordable Housing (MAH)

Arbor’s DUS MAH product provides flexible terms for acquisition or refinance of multifamily projects nationwide that qualify as affordable housing. Eligible properties are those that participate in the Low Income Housing Tax Credit (LIHTC) program, are encumbered by a Housing Assistance Payment (HAP) contract or participate in the Section 8 program (either through vouchers or direct payments). Other, special uses can be considered for MAH status.

Loan Amount $750,000 minimum
Loan Term Up to 30 years
Amortization Up to 30 years
Minimum DSC 1.20x (fixed)
Maximum LTV Up to 80%
Fixed Rate Yes
Adjustable Rate Available; Priced off the one month or three month SOFR. Convertible and non-convertible options available
Eligible Properties Multifamily, minimum five units
Eligible Borrower Single asset entity
Occupancy Requirement 85% physical occupancy; 70% economic occupancy
Tax & Insurance Escrows Monthly deposits required
Replacement Reserves Underwritten at a minimum $250 per unit per annum
Recourse Non-recourse with standard exceptions for fraud and misrepresentation can be waived for 100% restricted properties.
Commercial Space Maximum 35% of net rentable area and maximum 20% of effective gross income
Required Reports Appraisal, Property Condition Assessment, Phase I Environmental
Prepayment Yield maintenance and other declining prepayment options are available
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; early/extended rate lock options available
Application Deposit $23,000; covers estimated processing and legal fees; an additional $10,000 deposit required for Green Rewards
Origination Fee Minimum 1%; par pricing available
Good Faith Deposit 2% of loan amount

V020722

Request a Quote

Fill out a simple form and an expert loan originator will contact you shortly.