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Fannie Mae Choice Refinance Program Apartment Loans

Fannie Mae Choice Refinance Program Apartment Loans

Fannie Mae’s Multifamily Mortgage Business offers a streamlined refinance process with more limited documentation requirements for DUS loans in good standing. This program provides flexible financing, lower costs, and a fast execution. Eligible properties must be stabilized and must have satisfactory ratings on the most recent property inspection.

Fannie Mae Choice Refinance Program Apartment Loans Overview
Property - Property Management: documentation requirements may be waived.
- Property Location and Certification: Borrower may certify that there has been no change in zoning affecting the property in lieu of full underwriting. However, if property has been rezoned the lender must address the change.
Third-Party Reports - New Phase I Environmental Assessment may not be required.
- New appraisal required.
- New physical needs assessment required.
- New title insurance policy required.
Borrower Analysis - New underwriting certification may be given in lieu of full underwriting. However, if the organization has changed the lender must review necessary documents to confirm that the organization meets the requirements.
- For the borrower, key principal and principal the Lender will report ACheck results, obtain and review financial statements and meet the FICO requirements.
Existing Prepayment Premiums - Existing minimum 1 percent prepayment premium may be reduced or waived in certain circumstances.
- Prepayment premium due may be paid from the proceeds of the new loan.
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

Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever

- Nirav Patel

She Took Care of All My Needs

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

Commercial Loan Direct Streamlined the Whole Process

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

- Rita Pisarski