1. Home
  2. Fannie Mae Apartment Loans
  3. Fannie Mae Small Balance Loans

Fannie Mae Small Balance Loans

Fannie Mae Small Balance Loans

Fannie Mae’s Multifamily Mortgage Business offers financing options for loans up to $3 million for the acquisition or refinance of apartment buildings and other multifamily properties. This program provides flexible financing, competitive pricing, and a fast execution. Eligible properties must have 5 units. Eligible property types include existing, stabilized conventional, affordable housing, seniors housing, student housing, and manufactured housing properties.

Fannie Mae Small Balance Loans
Term 5-30 Years
Amortization Up to 30 Years
Max LTV 80%
Min DSCR DSCR Calculator 1.25x
Recourse Non-recourse lending available subject to certain restrictions. If recourse is required, key principal(s) are required to execute an appropriate state-specific payment guaranty or exceptions to non-recourse guaranty.
Escrows Escrows may be waived if criteria are met.
Third-Party Reports A streamlined Physical Needs Assessment and standard Environmental Assessment are required.
Interest Rate Fixed and variable rate options
Accrual 30/360 and Actual/360
Rate Lock 30- to 90-day commitments. An early rate lock feature is available allowing the borrower to lock a rate 45 to 180 days in advance of closing.
Assumption Loans are typically assumable
Prepayment Options Yield maintenance and other graduated prepayment options
Supplemental Financing Supplemental Loans available
Property Considerations Properties must have at least 90% occupancy for 90 days prior to funding.
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

Was this page helpful?

What Clients Say About Us

Our Reviews

Unfiltered Reviews
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