American Trust Corporation

Fannie Mae DUS Multifamily - Fixed Rate Financing

Loan Amounts: $2,000,000 and up

Term & Amortization: Typically 5, 7, 10, 15 or 18 year balloon maturities, however customized structures are also available. 20, 25 and 30 year fully amortizing maturities.

Prepayment: Mortgages are subject to defeasance, yield maintenance, or fixed percentage prepayment premiums except (in most cases) for the 90-day period immediately prior to maturity. (Prepayment terms, yield maintenance requirements and prepayment premiums are specified by Fannie Mae and can vary by transaction and by mortgage term. Consult your American Trust Corporation representative for details.)

Loan To Value Ratios: Maximum 80% (90% if new LIHTC Project)

Debt Coverage Ratios: Minimum 1.25:1 (1.15:1 if a new LIHTC project with taxable financing and 1.20:1 if Tax-Exempt Credit Enhancement with LIHTC’s)

Loan Features:

Non-Recourse, with the exception of standard carve-outs

Assumable

Capital improvements may be included

Fixed interest rate (variable rate option also available)
Supplemental Mortgage: At any time after the first year of the mortgage term, if the property value and income have increased such that additional equity is trapped, Borrower may apply for a DUS Supplemental Mortgage. Up to two supplemental mortgages may be obtained during the loan term with Fannie Mae’s approval, with a third available in order to reduce a purchaser’s down payment requirement in the event of an arm’s-length purchase of the property with approved assumption of the prior Fannie Mae mortgage(s).

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

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

Any immediate repairs needed must be completed within 12 months of loan closing

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 Architectural/ Engineering Report, 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

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	Fannie Mae DUS Multifamily - Fixed Rate Financing Loan Amounts: $2,000,000 and up Term & Amortization: Typically 5, 7, 10, 15 or 18 year balloon maturities, however customized structures are also available. 20, 25 and 30 year fully amortizing maturities. Prepayment: Mortgages are subject to defeasance, yield maintenance, or fixed percentage prepayment premiums except (in most cases) for the 90-day period immediately prior to maturity. (Prepayment terms, yield maintenance requirements and prepayment premiums are specified by Fannie Mae and can vary by transaction and by mortgage term. Consult your American Trust Corporation representative for details.) Loan To Value Ratios: Maximum 80% (90% if new LIHTC Project) Debt Coverage Ratios: Minimum 1.25:1 (1.15:1 if a new LIHTC project with taxable financing and 1.20:1 if Tax-Exempt Credit Enhancement with LIHTC’s) Loan Features: Non-Recourse, with the exception of standard carve-outs Assumable Capital improvements may be included Fixed interest rate (variable rate option also available) Supplemental Mortgage: At any time after the first year of the mortgage term, if the property value and income have increased such that additional equity is trapped, Borrower may apply for a DUS Supplemental Mortgage. Up to two supplemental mortgages may be obtained during the loan term with Fannie Mae’s approval, with a third available in order to reduce a purchaser’s down payment requirement in the event of an arm’s-length purchase of the property with approved assumption of the prior Fannie Mae mortgage(s). Pricing: Fees and interest rates are quoted daily. Contact American Trust Corporation for specific pricing. 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 Any immediate repairs needed must be completed within 12 months of loan closing 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 Architectural/ Engineering Report, 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