FANNIE MAE DUS® Standard
LOAN AMOUNTOver $6 million
LOAN TERMUp to 30 years
AMORTIZATIONUp to 30 years. Interest-only options also available
MINIMUM DSCR1.25x
MAXIMUM LTVUp to 80%
RATE STRUCTUREFixed and adjustable rate options available
ELIGIBLE PROPERTIESMultifamily, minimum five units
ELIGIBLE BORROWERSingle Asset Entity
OCCUPANCY REQUIREMENTS85% physical occupancy and 70% economic occupancy required
TAX & INSURANCE ESCROWSMonthly deposits required. May be waived if certain criteria are met
REPLACEMENT RESERVESUnderwritten at a minimum $250 per unit per annum
RECOURSENonrecourse
COMMERCIAL SPACEMaximum 35% of net rentable area and EGI (after applying 10% vacancy rate)
REQUIRED REPORTSAppraisal, Property Condition Assessment, Phase I Environmental
PREPAYMENTYield Maintenance and declining prepayment available
ASSUMABLESubject to approval and 1% fee
SUBORDINATE FINANCINGNot allowed without written approval
SUPPLEMENTAL LOANSEligible for secondary financing after 12 months
PRICINGTiered Pricing Matrix. More favorable terms available for higher DSCR and lower LTV
RATE LOCKStandard 30- to 180-day commitments
APPLICATION FEE DEPOSIT$20,500. Covers estimated processing and legal fees
ORIGINATION FEEMinimum 1%
GOOD FAITH DEPOSIT2% of Loan Amount