|
Fannie Mae DUS Fixed Rate Conventional MBS |
|
Property Description: |
Loans
for refinance, purchase or construction take-out of quality well
located multi-family properties nationwide. Big advantage to these
loans are
1). Lowest rates and 2) loan can be increased without affecting
pre-payment clause |
|
Minimum Loan Amount: |
$2
million |
|
Maximum Loan-to-Value: |
80% |
|
Minimum Debt Service Coverage: |
1.25 |
|
Loan Terms: |
5, 7,
10, 15, 25 and 30 years |
|
Loan Fee |
1% |
|
Amortization: |
30
years typically |
|
Rates: |
Fannie Mae Rates |
|
Prepayment: |
Typically:
- 4.5
years yield maintenance on 5-year term
- 3, 5
or 6.5 years yield maintenance on 7-year term
- 5, 7
or 9.5 years yield maintenance on 10-year term
-
Yield maintenance varies 15, 18, 25, 30 year term
|
|
Secondary Financing: |
DUS
second mortgage available after one year and subject to approval. |
|
Assumability: |
Allowed with approval for 1% fee |
|
Borrower: |
Single-asset entity |
|
Recourse: |
Loans
are non-recourse with standard carve outs. |
|
Lending Area: |
Arizona, California and Nevada |
