If you are considering investing in a multifamily property project, look no further than the experts at LSG Lending Advisors to be your trusted advocate. We have many years of experience in successfully guiding our valued clients through the financing process. We know that every project has its own unique challenges, so we custom fit our solutions to meet the specific requirements of every client. Whether your project involves a purchase, acquisition, new construction, refinance or rehabilitation, we are here to help.
- Over 7 years multifamily property loan underwriting experience.
- Expert knowledge of financial terms and principles.
- Highly experienced at guiding clients through complex transactions.
- In depth analysis of current operating statements and projected financials.
- Specialists in evaluating third party reports, including appraisals, environmental documents, market studies and project capital needs assessments.
- Loan review documentation.
- Tailor fit financing solutions for every client.
We have an unmatched knowledge with regard to adhering to FHA/HUD MAP lending guidelines and can also help arrange loans with some of best FHA/HUD MAP approved lenders the industry has to offer. You can count on LSG Lending Advisors to be your strong partner during the multifamily property financing process. Give us a call today to learn more about how we are the organization of choice for all of our clients’ loan needs.
The Fannie Mae Cooperative program offers competitive pricing and customized solutions for existing stabilized cooperative properties. The properties should have a strong management and solid operating history. The minimum property condition rating should be a 2 or better. The available fixed rate term is between 5 and 30 years.
Term Sheet for Fannie Mae Cooperative
||Up to 30 years.
||55% on a market rental basis.
- 1.0x on actual underwritten operations.
- 1.55x when utilizing market rate rentals.
- The property management company is required to have experience with cooperative properties of like size and market.
- Reserve balance must be equal to or greater than 10% of annual maintenance fees.
- Maintenance fees must be sufficient to achieve a balanced budget.
- High levels of ownership by one sponsor or investor (in excess of 40%) will require additional due diligence.
||Supplemental loans are available.
||Loans may be voluntarily prepaid upon payment of yield maintenance.
||30- to 180- day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option
||Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy.
||Replacement reserve, tax, and insurance escrows are typically required.
Standard third-party reports required, including:
- Phase I Environmental Site Assessment, and
- Property Condition Assessment.
||Loans are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience.