Fannie Mae DUS®
Standard
Arbor provides competitive, tiered pricing for acquisition or refinance of multifamily projects nationwide, including recently completed projects.
| Loan Amount | Over $6 million |
| Loan Term | Up to 30 years |
| Amortization | Up to 30 years. Interest-only options also available |
| Minimum DSCR | 1.25x |
| Maximum LTV | Up to 80% |
| Rate Structure | Fixed and adjustable rate options available |
| Eligible Properties | Multifamily, minimum five units |
| Eligible Borrower | Single Asset Entity |
| Occupancy Requirements | 85% physical occupancy and 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 | Nonrecourse |
| Commercial Space | Maximum 35% of net rentable area and EGI (after applying 10% vacancy rate) |
| Required Reports | Appraisal, Property Condition Assessment, Phase I Environmental |
| Prepayment | Yield Maintenance and declining prepayment available |
| 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 DSCR and lower LTV |
| Rate Lock | Standard 30- to 180-day commitments |
| Application Fee Deposit | $20,500. Covers estimated processing and legal fees |
| Origination Fee | Minimum 1% |
| Good Faith Deposit | 2% of Loan Amount |
V020722