FANNIE MAE DUS® Multifamily Affordable Housing (MAH)

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Arbor’s DUS® MAH product provides flexible terms for acquisition or refinance of multifamily projects nationwide which qualify as affordable housing. Eligible properties are those that participate in the Low Income Housing Tax Credit (LIHTC) program, are encumbered by a Housing Assistance Payment (HAP) contract or participate in the Section 8 program (either through vouchers or direct payments). Other, special uses can be considered for MAH status.
Loan Amount $1,000,000 minimum
Loan Term Up to 30 Years
Amortization Up to 30 Years
Minimum DSC 1.20
Maximum LTV 90%
Fixed Rate Yes
Adjustable Rate Available. Priced off the one month or three month LIBOR. Convertible and nonconvertible options available.
Eligible Property Multifamily, minimum five units
Eligible Borrower Single-asset entity
Occupancy Requirements 85% physical occupancy, 70% economic occupancy
Tax and Insurance Escrows Monthly deposits required.
Replacement Reserve Underwritten at a minimum $250 per unit per annum
Recourse Non-recourse with standard exceptions for fraud and misrepresentation can be waived for 100% restricted properties.
Commercial Space Maximum 35% of net rentable area and maximum 20% of effective gross income
Prepayment Yield Maintenance and other delcining prepayment options are available.
Assumable Subject to approval and 1% fee
Required Reports Appraisal, Properly Condition Assessment and Phase I
Supplemental Loans Eligible for secondary financing after 12 months
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock Standard 10-day rate lock period. Early/extended rate lock options available.
Application Deposit $13,500. Covers all estimated underwriting costs (including processing fee).
Processing Fee $3,000 non-refundable
Origination Fee Minimum 1%. Par pricing available.
Legal/Closing Fee Arbor’s Counsel Fee to be determined at application
Good Faith Deposit 2% of loan amount
Arbor Commercial Mortgage | | 800.ARBOR.10