| Fannie Mae Small Balance Apartment Loan - Rates Updated June 2nd, 2023 |
| Loan Product | Rate | Amortization | | 5 Year Fixed | 5.36-6.36% | Up to 30 years | | 7 Year Fixed | 5.25%-6.19% | Up to 30 years | | 10 Year Fixed | 5.25- 5.99% | Up to 30 years | | 15 Year Fixed | 5.44-6.28% | 30 years | | 30 Year Fixed | 5.55- 6.19% | 30 years |
- Tiered pricing from 55% – 80% LTV
- Simplified underwriting for small balance loans
- Loan amounts from $1,500,000 - $6,000,000
- Loan to value ratios up to 80% on purchases and 75% on refinances
- Cash out refinances are acceptable
- Pricing based on loan-to-value and debt service coverage ratio:
- Tier 2 - 75-80%/1.25x
- Tier 3 - 65%/1.35x
- Tier 4 – 55%/1.55x
- Interest only loans are available
- Step down and yield maintenance prepayment penalties
- Nonrecourse loans are available
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