If you are interested in Fannie Mae Fixed-Rate Mortgage Loans, it's important to understand your options. Below you will find frequently asked questions concerning Fixed-Rate Morgage Loans to help you with your lending decision. See below to find out about eligible properties, minimum Debt Service Coverage, maximum LTV, and more.
Fannie Mae Fixed-Rate Mortgage Loans Questions
Questions & Answers
What property types are eligible?
- Existing stabilized Cooperative Properties in eligible Cooperative Property markets
- Cooperative corporations with strong management and solid operating history
- Limited equity cooperative properties for low- and moderate-income families are also eligible
- Overall Property condition rating of two or better
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What are the available terms and amortization?
The term available is 5-30 years with an amortization of up to 30 years.
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What is the maximum LTV?
80% for Conventional Properties.
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What is the minimum Debt Service Coverage?
1.25x for Conventional Properties.
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Is this loan non-recourse?
Yes, this is a non-recourse execution with standard carve-outs for “bad acts” such as fraud and bankruptcy.
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What are the benefits?
- Flexible loan terms
- Competitive pricing
- Predictable payment and amortization schedule
- Speed in processing and underwriting
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What property types are eligible?
- Existing, stabilized Conventional properties; Multifamily Affordable Housing properties; Seniors Housing properties; Student Housing properties; and Manufactured Housing Communities
- Properties with a minimum of five units (50 pad sites for Manufactured Housing Communities)
- Credit-worthy single asset U.S. borrower with U.S. ownership
- Borrowers may have indirect foreign ownership interests, subject to proper structuring of the borrowing entity and its parent.
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