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Conventional: Apartment, Commercial, Owner Occupied

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DSC Crusher - CA Apartment Loans

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FANNIE MAE

DUS Adjustable Rate Apartment Mortgage

DUS Discounted Mortgage Backed Security (DMBS)

Aparment Loan Forward Commitment - Conventional

Apartment Loan Forward Commitment -Affordable

Negotiated Transactions

Fixed or Variable Bond Credit Enhancement

Low-Income Housing Tax Credits (LIHTC)
FHA INSURED LOAN PROGRAM

Apartments: New Construction / Substantial Rehab
Section 220, 221(d)(4), and 221(d)(3)

Apartments: Acquisition or Refinance
Section 223(f)

Healthcare: Acquisition or Refinance
Section 232
Pursuant to 223(f)

Healthcare:New Construction / Substantial Rehab
Section 232

Healthcare:Alterations, Repairs or Improvements
Section 241

Streamline Refinance
Section 223(a)(7)

 
OTHER

Single Tenant Commercial Properties and
Owner User Commercial Properties

Apartment and Commercial Bridge Loans
Fannie Mae - Apartment Building Loan - Apartment Building Mortgage - Commercial Mortgage

Home > Income Property Loans > Fannie Mae DUS™ Adjustable Rate Mortgage

Fannie Mae DUS™ Adjustable Rate Mortgage

Assumable, short- and long-term adjustable rates available for refinance, purchase or construction take-out of quality, well-located multifamily properties.

More Information

Features

  • Less costly exit fees than a fixed rate
  • Convertible to a Fannie Mae fixed-rate loan at any time with streamlined underwriting and only minor changes to loan documents at fixed-rate conversion
  • Additional proceeds may be available at conversion
  • Built-in Interest-Rate Cap available
Structure
Loan Amount

minimum $3 million
Loan to Value

maximum 77.5%

Debt Service Coverage

minimum1.00x, at capped interest rate
Loan Terms

3, 5, 7, and 10 years

Amortization

30 years for most properties

Recourse

nonrecourse with standard carveouts
Rate Adjustment 1 or 3 months
Payment Adjustment 1 or 3 months
Lifetime Cap 3% - 5.5%
Periodic Cap & Floor 1%
Interest-Rate Cap - if built-in interest rate cap option is not chosen, borrower must purchase an interest rate cap at no less than 300 basis points above the underwritten interest-rate
- cap must be assigned to Fannie Mae with 2-year term
- the third party cap provider must be approved by Fannie Mae

 

Optional Features
Assumability

fully assumable with lender’s consent and 1% fee
Early Rate Lock

available for qualified transactions
Existing Loan Prepayment

DUS™ supplemental mortgage available after one year, subject to lender’s approval

Prepayment
 yield maintenance or defeasance options available

 

Conversion to Fixed Rate
Eligibility

between years 2 and 5, the mortgage can be converted to a Fannie Mae DUS fixed rate mortgage - property must meet the then current Fannie Mae underwriting requirements

 

For more information
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