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Fannie Mae Affordable Housing Mortgages

Fannie Mae Affordable Housing Mortgages

Fannie Mae provides options for preserving the availability and affordability of affordable housing projects. This program provides flexible financing, competitive pricing, and fast execution time.

Fannie Mae Affordable Housing Loans Overview
Term 10-30 Years
Amortization Up to 30 Years
Max LTV 80%
Min DSCR DSCR Calculator 1.20x
Recourse Loss Non-recourse
Rate Lock Rate Lock Early rate lock feature is available allowing the borrower to lock a rate 45 to 180 days in advance of closing.
Recourse Recourse Non-recourse. Standard carve-outs for “bad acts” such as fraud and bankruptcy are required.
Escrows Standard DUS escrow requirements for taxes and insurance. Replacement Reserves are required at a minimum of $250 per unit per annum, and must be fully funded.
Third-Party Reports Standard third-party reports including Appraisal, Phase I Environmental Assessment and a Physical Needs Assessment are required.
Interest Rate Fixed and variable rate options.
Assumption Loans are typically assumable.
Prepayment Options Yield maintenance and other graduated prepayment options are available.
Supplemental Financing Supplemental mortgages are available, providing the opportunity for additional proceeds for communities in the final stages of lease-up or with expansion phases.
Additional Considerations Low-income qualifying restrictions; 20% or more units rented to families earning at or below 50% of Area Median Income (AMI), or 40% or more units rented to families earning at or below 60% of AMI. Restriction must be recorded.
Fannie Mae Loan Programs
Adjustable Rate Mortgage 7-6 Affordable Housing Preservation
Bulk Delivery Choice Refinance Program
Cooperative Property Financing Credit Facility
Fixed-Rate Mortgage Fannie Mae Standard DUS Loans
Green Preservation Plus Manufactured Housing Mortgages
M-PIRE Mortgage Senior Housing Financing
Structured Adjustable-Rate Mortgage Student Housing Financing
Supplemental Tax-Exempt Bond Credit Enhancement

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Fernando and Leanne are Amazing

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If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.

- Vincent Arias

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We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them

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