Articles

Renters See Apartments as ‘Forever Homes’

Today’s renters are in it for the long haul. The Federal Reserve Bank of New York’s recently released 2025 SCE Housing Survey shows that the average renter thinks there is a two-in-three chance they will rent for the foreseeable future. With home prices and interest rates unfavorable to would-be homebuyers, we explore renters’ perceptions and how they could impact future rental housing demand.

Current Reports

Top Markets for Multifamily Investment Report Spring 2025

Arbor’s Top Markets for Multifamily Investment Report Spring 2025, developed in partnership with Chandan Economics, is your roadmap to the best locations to deploy capital. Based on the findings of our exclusive Multifamily Opportunity Matrix, this in-depth analysis assesses economic strength and market capabilities to navigate evolving conditions of the top 50 largest U.S. metros.

Research

Arbor’s data-driven articles and research reports empower multifamily and single-family rental investors and developers to make more profitable financial decisions.

Articles

Renters Account for Majority of Household Growth

The number of rental households climbed nearly 2% last year, as 848,000 more households became renters, an analysis of the U.S. Census Bureau’s Housing Vacancies and Homeownership Survey shows (Chart 1). Rental households also hit a new high of 45.3 million, accounting for more than half of all U.S. household growth in 2024. Weakening affordability, evolving lifestyle preferences, and a limited supply of quality housing all contributed to surging multifamily and single-family rental (SFR) demand.

Articles

Solar Panel Usage Accelerates in Rental Properties

Solar panel installations, which skyrocketed in the U.S. over the last half-century, are projected to double to 10 million in just six years. While installations soared in all types of residences, owner-occupied properties significantly outpaced rentals. However, the evolving economics of solar power may be approaching a tipping point for single-family rental (SFR) operators looking for a differentiator.

Analysis

Small Multifamily Investment Snapshot — March 2025

Amid ongoing macroeconomic uncertainty, the small multifamily sector remains favorably positioned for stability as the structural need for affordable housing in the U.S. has supported the strength of the sector’s demand profile.

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Home | Fannie Mae | Supplemental Loan
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FANNIE MAE DUS®

Supplemental

 

Whether your Arbor Fannie Mae loan was executed on a market rate or affordable property, under the Forward Commitment or Small Loans program, or on a cooperative complex or student-based property, you are eligible for a supplemental loan under the Fannie Mae DUS program.

Loan Amount $1,000,000 minimum
Loan Term 5 to 30 years, coterminous or non-coterminous
Amortization Up to 30 years
Interest Type Fixed- or variable-rate options available
Requirements
  • Arbor must be the servicer of the existing Fannie Mae fixed-rate or adjustable-rate mortgage loan
  • Supplemental loans are available 12 months after the closing of the senior Fannie Mae mortgage loan
Eligible Asset Classes
  • Stabilized Conventional
  • Multifamily Affordable Housing
  • Student Housing
  • Seniors Housing
  • Manufactured Housing Communities
Limitations
  • One Supplemental loan is permitted during the term of the first mortgage lien; however, an additional supplemental loan may be placed if the preexisting debt is assumed through an arms-length acquisition
  • Preexisting Fannie Mae debt may not have less than five years until maturity
Underwriting
  • Appraisal, Property Condition Assessment, and Phase I Environmental update are required
  • Funding of replacement reserves will match the preexisting level unless an increase is required after review of the Property Condition Assessment
  • A new title insurance policy is required
  • No new survey is required provided the title meets legal requirements
Minimum DSCR As low as 1.30x, depending upon asset class and use of proceeds
Maximum LTV As high as 75%, depending upon asset class and use of proceeds
Prepayment Yield maintenance or defeasance
Accrual 30/360 and actual/360
Rate Lock 30- to 180- day commitments; borrowers may lock a rate with the Streamlined Rate Lock option
Recourse Nonrecourse execution with standard carve-outs for “bad acts” such as fraud or bankruptcy
Assumable Subject to approval and 1% fee (nonrecourse loans only)
Application Fee Deposit $20,500; covers estimated processing and legal fees

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