Small Mortgage Loan Program
Fannie Mae DUS®
Fannie Mae’s Multifamily Mortgage Business offers a streamlined loan process for fixed- and variable-rate Mortgage Loans up to $9 million nationwide.
Benefits
- Low cost of execution
- Competitive rates
- Delegated model provides Lenders and Borrowers speed of execution
- Team with experience and scale to support this unique market
- Single asset security allows the most flexibility in the market
- Extensive experience serving the small loan market
- Streamlined third-party reports
Eligibility
- Conventional Properties; Multifamily Affordable Housing Properties; Cooperative Properties (market rate); and Manufactured Housing Communities
- Existing, stabilized multifamily Properties
- Properties with 5 or more units
- Loans for acquisition or refinance
| Loan Amount | Up to $9 million nationwide. |
| Term | 5-30 years. |
| Amortization | Up to 30 years. |
| Interest Rate | Fixed-rate and variable-rate options available. |
| Maximum LTV | 80% |
| Minimum DSCR | 1.25x |
| Supplemental Financing | Supplemental Mortgage Loans are available. |
| Prepayment Availability | Flexible prepayment options available, including yield maintenance and declining prepayment premium. |
| Rate Lock | 30-day to 180-day commitments. Borrowers may rate lock using the Streamlined Rate Lock option. |
| Accrual | 30/360 and Actual/360. |
| Recourse | Non-recourse execution with standard carve-outs for "bad acts" such as fraud and bankruptcy. |
| Escrows | Replacement reserves, tax, and insurance escrows are typically required for higher leverage transactions. |
| Third-Party Reports | Streamlined inspection and Environmental Screening using the ASTM E-1528 14 protocol. |
| Assumption | Non-recourse Small Mortgage Loans are typically assumable, subject to review and approval of the new borrower's financial capacity and experience. |
During the HomeStreet Bank pre-qualification review, our Commercial Real Estate Group team members will estimate the loan amount and associated transaction fees. Actual loan amounts and transaction-related expenses may vary. A pre-qualification estimate is not a loan commitment.
Terms and conditions may apply.
Fannie Mae® is a registered trademark of Fannie Mae. DUS® is a registered trademark of Fannie Mae.
All loans subject to approval.
