Fannie Mae (FNMA) Multifamily Mortgages Nationwide
The Federal National Mortgage Association (FNMA), commonly known as “Fannie Mae” offers federally guaranteed mortgages and is one of the largest multifamily loan programs in the country. Most FNMA apartment mortgages are non-recourse (except standard carve outs) and properties are underwritten using its Delegated Underwriting Services (DUS) program to make sure that lending parameters are met. Loan collateral may be traditional apartments, affordable housing, senior housing, student housing, and manufactured housing communities. Loan amounts start at $750,000 and go up with terms between 5-30 years and amortizations up to 30 years.
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