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GENERAL: 800.ARBOR.10

FANNIE MAE DUS®

Standard

Arbor provides competitive, tiered pricing for acquisition or refinance of multifamily projects nationwide, including recently completed projects.

Loan Amount $3,000,000
Loan Term Up to 30 years.
Amortization Up to 30 years. Interest-only options also available.
Minimum DSCR 1.25
Maximum LTV 7 year term or greater, 80%. If cash-out, 75%. 5 years, 75%. If cash-out, 70%.
Rate Structure Fixed and adjustable rate options available.
Eligible Properties Multifamily, minimum five units.
Eligible Borrower Single Asset Entity.
Occupancy Requirements 85% Physical Occupancy for 90 days. 70% economic occupancy required.
Tax & Insurance Escrows Monthly deposits required. May be waived if certain criteria are met.
Replacement Reserves Underwritten at a minimum $250 per unit per annum.
Recourse Non-recourse with standard exceptions for fraud and misrepresentation.
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; Declining prepayment option available for properties between 5 and 50 units.
Assumable Subject to approval and 1% fee.
Subordinate Financing Not allowed without written approval.
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 10 day rate lock period. Early/Extended rate lock options available.
Application Deposit $12,500. Covers all estimated underwriting costs (including processing fee).
Processing Fee $3,000 non-refundable.
Origination Fee Minimum 1%. Par pricing available.
Legal/Closing Fee Arbor’s Counsel Fee to be determined at application.
Good Faith Deposit 2% of Loan Amount, due at rate lock, refundable post-closing.

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