Small Loan Program Streamlined loan process offering fixed rate and variable rate financing; meeting the needs of Multifamily property owners for loans up to $5 million in eligible markets. Overview Benefits Markets Loan Amount Nationwide Up to $3 million nationwide Up to $5 million in certain eligible markets  Delegated model providing Lenders and Borrowers speed of execution  Dedicated Team with Loan Purpose Acquisition or Refinance Loan Term 5 – 30 years Loan to Value Up to 80% Debt Service Coverage Minimum 1.25x  Competitive rates  Single asset Security for Interest Rate Fixed rate and adjustable rate  Long history of commitment Amortization Up to 30 years Supplemental Financing Available after 12 months of loan term Non‐Recourse with carve‐outs Available – subject to borrower, property and market requirements Assumption Non‐Recourse loans are assumable with Lender approval and a 1% fee Prepayment Options Yield maintenance and other graduated prepayment options are available Third Party Reports Streamlined inspection and Environmental Screening using ASTM E‐1528 Escrows Replacement reserves typically not required. Taxes and Insurance required for higher leveraged deals Accrual 30/360 and Actual/360 Rate Lock Standard rate lock requirements apply Closing, Legal Documents and Asset Management Streamlined, lower cost execution, closing and asset management experience, expertise and scale to serve this unique market greatest flexibility serving the small loan market Eligibility
 5 or more units  Conventional  Cooperative Properties (market rate only)  Manufactured Housing Communities (if Lender approved to originate MHC) Products Available  Conventional Fixed Rate  Declining Prepay  ARM 7‐4 For More Information Fannie Mae Lenders should contact their Multifamily National Account Manager. Borrowers should contact a Fannie Mae Multifamily Lender. A list of approved Lenders is available at https://www.fanniemae.com/multif
amily/ © 2015 Fannie Mae. Trademarks of Fannie Mae.
June 2015