American Trust Corporation

Fannie Mae Multifamily - Adjustable Rate Mortgage Financing

Loan Amounts: $2,000,000 to $25,000,000

Term: 5, 7 or 10 year balloon maturities

Amortization: Up to 30 years

Loan To Value Ratios: Maximum 80% (75% for 5-year terms)

Debt Coverage Ratios: Minimum 1.00:1 at lifetime capped interest rate with amortization

Features:

Non-Recourse, with exception of standard carve-outs for borrower’s bad acts

Assumable with Lender approval and 1.0% fee

Convertible or Non-Convertible

Pricing: Fees and Interest rates are quoted daily. Contact American Trust Corporation for specific pricing.

Rate Adjustment Period: One month or three month

Index: One month or three month LIBOR

Periodic Cap and Floor: +/- 1.00%

Lifetime Cap and Floor: Built in to the pricing, ranging from 2% to 6% above or below initial rate, based on Borrower’s election. Margins vary based on the lifetime cap. The margin decreases on ARM’s with higher lifetime/floor caps.

Prepayment: Prepayment terms affect pricing. All ARM loans are locked out for the first year. Under any scenario, there is no prepayment premium during the last 3 months prior to the loan’s maturity date. Borrowers may choose between a declining prepayment schedules or a schedule that provides a fixed 1% prepayment premium after one year.

Conversion to Fixed Rate: Convertible loans may convert to fixed rate in years 2 through 5.

Eligible Properties:

90% Occupied for the 3 months immediately preceding Loan Commitment.

Occupancies between 85%-90% are eligible, subject to American Trust Corporation approval.

Stabilized properties with at least 5 units (typically over 50 units) with proven location and management. Up to 20% commercial component permitted. Student housing permitted so long as it is apartments, not dorm rooms.
Borrower: Single asset, single purpose entities (some exceptions permitted)

Requirements:

Escrow accounts for insurance, real estate taxes, special assessments

Replacement reserve account

Repairs must be completed within 12 months of loan closing, if applicable

Territory: Nationwide.

Application Fee: $2,500 non-refundable inspection/loan processing fee payable to American Trust Corporation with the loan application, will be credited to origination fee at closing. Includes Physical Needs Assessment, Phase I Environmental Report, Appraisal Report and Property Inspection. All third party reports must be contracted by American Trust Corporation.

Origination Fee: 1%

What We Do

Lending Programs

Property Types

Application Forms

Global Financing Solutions

Short Term Commercial

Float to Fixed

Small Loan Programs

Hard Money Loans

Credit Tenant Financing

Mezzanine

Multifamily

Office

Health Care Financing

Hotel & Resort Financing

Auto, Marine & Equipment Financing

Mobile Home Park

FHA & Fannie Mae Products

Self Storage

Retail

Industrial

SBA Programs

Factoring and Business Finance

Small and Rural Hospital Finance

Privacy Policy


	Fannie Mae Multifamily - Adjustable Rate Mortgage Financing Loan Amounts: $2,000,000 to $25,000,000 Term: 5, 7 or 10 year balloon maturities Amortization: Up to 30 years Loan To Value Ratios: Maximum 80% (75% for 5-year terms) Debt Coverage Ratios: Minimum 1.00:1 at lifetime capped interest rate with amortization Features: Non-Recourse, with exception of standard carve-outs for borrower’s bad acts Assumable with Lender approval and 1.0% fee Convertible or Non-Convertible Pricing: Fees and Interest rates are quoted daily. Contact American Trust Corporation for specific pricing. Rate Adjustment Period: One month or three month Index: One month or three month LIBOR Periodic Cap and Floor: +/- 1.00% Lifetime Cap and Floor: Built in to the pricing, ranging from 2% to 6% above or below initial rate, based on Borrower’s election. Margins vary based on the lifetime cap. The margin decreases on ARM’s with higher lifetime/floor caps. Prepayment: Prepayment terms affect pricing. All ARM loans are locked out for the first year. Under any scenario, there is no prepayment premium during the last 3 months prior to the loan’s maturity date. Borrowers may choose between a declining prepayment schedules or a schedule that provides a fixed 1% prepayment premium after one year. Conversion to Fixed Rate: Convertible loans may convert to fixed rate in years 2 through 5. Eligible Properties: 90% Occupied for the 3 months immediately preceding Loan Commitment. Occupancies between 85%-90% are eligible, subject to American Trust Corporation approval. Stabilized properties with at least 5 units (typically over 50 units) with proven location and management. Up to 20% commercial component permitted. Student housing permitted so long as it is apartments, not dorm rooms. Borrower: Single asset, single purpose entities (some exceptions permitted) Requirements: Escrow accounts for insurance, real estate taxes, special assessments Replacement reserve account Repairs must be completed within 12 months of loan closing, if applicable Territory: Nationwide. Application Fee: $2,500 non-refundable inspection/loan processing fee payable to American Trust Corporation with the loan application, will be credited to origination fee at closing. Includes Physical Needs Assessment, Phase I Environmental Report, Appraisal Report and Property Inspection. All third party reports must be contracted by American Trust Corporation. Origination Fee: 1%
		What We Do Lending Programs Property Types Application Forms

		Global Financing Solutions Short Term Commercial Float to Fixed Small Loan Programs Hard Money Loans Credit Tenant Financing Mezzanine Multifamily Office Health Care Financing Hotel & Resort Financing Auto, Marine & Equipment Financing Mobile Home Park FHA & Fannie Mae Products Self Storage Retail Industrial SBA Programs Factoring and Business Finance Small and Rural Hospital Finance


Privacy Policy