FANNIE MAE DUS® Multifamily Affordable Housing (MAH)

LOAN AMOUNT$750,000 minimum
LOAN TERMUp to 30 years
AMORTIZATIONUp to 30 years
MINIMUM DSC1.20x (fixed)
ADJUSTABLE RATEAvailable; Priced off the one month or three month SOFR. Convertible and non-convertible options available
ELIGIBLE PROPERTIESMultifamily, minimum five units
ELIGIBLE BORROWERSingle asset entity
OCCUPANCY REQUIREMENT85% physical occupancy; 70% economic occupancy
TAX & INSURANCE ESCROWSMonthly deposits required
REPLACEMENT RESERVESUnderwritten at a minimum $250 per unit per annum
RECOURSENon-recourse with standard exceptions for fraud and misrepresentation can be waived for 100% restricted properties.
COMMERCIAL SPACEMaximum 35% of net rentable area and maximum 20% of effective gross income
REQUIRED REPORTSAppraisal, Property Condition Assessment, Phase I Environmental
PREPAYMENTYield maintenance and other declining prepayment options are available
ASSUMABLESubject to approval and 1% fee
SUPPLEMENTAL LOANSEligible for secondary financing after 12 months
PRICINGTiered Pricing Matrix; more favorable terms available for higher DSC and lower LTV
RATE LOCKStandard 30- to 180-day rate lock period; early/extended rate lock options available
APPLICATION DEPOSIT$23,000; covers estimated processing and legal fees; an additional $10,000 deposit required for Green Rewards
ORIGINATION FEEMinimum 1%; par pricing available
GOOD FAITH DEPOSIT2% of loan amount