Conventional Loans

Fannie Mae multifamily loan programs provide first-lien, permanent mortgage loan financing options for the acquisition or refinance of conventional multifamily properties.


Flexible loan terms
Competitive pricing
Certainty of execution
Speed in processing and underwriting


5 to 30 years


Up to 30 years

Interest rate

Fixed- and variable-rate options available
Maximum LTV 80%
Minimum DSCR = 1.25x

Property considerations

Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding.
Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.

Supplemental financing

Supplemental Loans are available.

Prepayment availability

Loans may be voluntarily prepaid upon payment of yield maintenance for fixed-rate loans and declining prepayment premium for variable-rate loans.

Rate lock

30- to 180-day commitments. Borrowers may lock the rate with Streamlined Rate Lock option.


30/360 and Actual/360.


Non-recourse execution is available for most loans greater than $750,000. Standard carve-outs required for “bad acts,” such as fraud and bankruptcy.


Replacement reserve, tax, and insurance escrows are typically required.

Third-party reports

Standard third-party reports required, including Appraisal, Phase I Environmental Site Assessment, and Property Condition Assessment.


Loans are typically assumable and subject to review and approval of the proposed new borrower’s financial capacity and experience.