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GENERAL: 800.ARBOR.10

FREDDIE MAC®

Fixed-Rate

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

Loan Amount $1,000,000 minimum.
Loan Term 5 to 10 years. Up to 30 years for fixed-rate loans if loan is not purchased for securitization.
Amortization Up to 30 years. Interest-only options also available.
Minimum DSCR 1.25/1.30 if a 5-year deal.
Maximum LTV 7 year term or greater: 80%; 5-year term: 75%.
Rate Structure Fixed.
Eligible Properties Multifamily.
Eligible Borrower Single Purpose Entity.
Tax & Insurance Escrows Monthly deposits required. May be waived if certain criteria are met.
Replacement Reserves Minimum $250 per unit per annum. May be waived if certain criteria are met.
Recourse Non-recourse with standard exceptions for fraud and misrepresentation.
Commercial Space No more than 25% of effective gross income and no more than 25% of property’s total square footage. Final determination by Freddie Mac.
Required Reports Appraisal, Property Condition Assessment, and Phase I Environmental, Zoning, Insect and Flood.
Prepayment Defeasance for fixed-rate loans. No prepayment premium for final 90 days of term.
Assumable Subject to approval and 1%.
Subordinate Financing Not allowed.
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock Standard 5-day rate-lock period. Early/Index rate-lock options available.
Application Deposit $12,500. Covers all estimated underwriting costs (including application fee).
Legal/Closing Fee Arbor’s Counsel Fee to be determined at application.
Good Faith Deposit 2% of loan amount due at rate lock for early rate-lock transactions, but refundable post-closing.

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