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FNMA
Other Features:
Single Asset Substitutions
Provides a Borrower with the ability to replace the
original mortgaged property securing it FNMA DUS Loan
with another mortgaged property while keeping the
existing DUS Loan in place.
Eligible Borrowers/Sponsors
Single Asset Substitutions are available to high quality
national and regional Borrowers/Sponsors that own a
portfolio of multifamily properties and demonstrate
sufficient financial strength and experience to support
the substitution transaction.
Eligible Products
Conventional fixed-rate mortgages for the acquisition or
refinance of stabilized multifamily properties are
eligible.
Multifamily Affordable Housing Loans, New Construction
and Substantial Rehabilitation Loans and Bond Credit
Enhancements are not eligible.
Supplemental Loans
FNMA’S Supplemental Loans allow lenders and borrowers to
obtain additional loan proceeds on a property with a
pre-existing Fannie Mae mortgage.
The combined debt service of the Supplemental Loan and
the underlying DUS loan can be as low as 1.25x and up to
an 80% LTV.
Eligible Products
Standard DUS fixed-rate or ARM loans, and Multifamily
Affordable Housing, Seniors Housing, Student Housing,
and Manufactured Housing Community loans are eligible
for Supplemental Loans. Bond Credit Enhancement
transactions are eligible with the prior approval of
Fannie Mae.
If you
require additional information, or would like to speak
to one of our commercial financing specialists, please call
us at 888.488.3807 or
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