FANNIE MAE® Manufactured Housing

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Arbor’s DUS ARM 7-4 product offers a 7-year variable-rate financing option with an embedded cap, and fixed-rate conversion option for properties with 5 to 50 units and Multifamily Affordable Properties of any size.

Loan Amount $1,000,000 minimum
Loan Term Up to 30 years
Amortization 25 Years standard MHC; 30 Years age restricted
Minimum DSC 1.25
Maximum LTV 80%. If cash-out, 75%.
Rate Structure Fixed and adjustable rate options available
Eligible Properties Manufactured/Mobile Housing with a minimum of 50 sites; 50% or more doublewide sites required. Must be rated a 4 or 5 star property.
Eligible Borrower Single-asset entity
Occupancy Requirement 90% physical occupancy. 5% limit on non-owner occupied.
Tax and Insurance Escrows Monthly deposits required.
Replacement Reserves Underwritten at a minimum $25 per unit per annum
Recourse Non-recourse with standard exceptions for fraud and misrepresentation
Commercial Space Eligible
Required Reports Appraisal, Properly Condition Assessment and Phase I
Prepayment Yield Maintenance or declining pre-payment provision
Assumable Subject to approval and 1% fee
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. Extended rate lock options available.
Application Deposit $12,500
Processing Fee $3,000 non-refundable. Included with Application Deposit
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