FNMA Small Apartment Loans
$750,000 to $5,000,000
                       SMALL APARTMENT LOANS
                                    Non recourse

FNMA Loan Amounts: $750,000 - $5,000,000

Fixed Rate Balloon Loans: 5, 7, 10 year loan terms with up to 30 year
amortization

Loan to Value up to:  80% Purchase or Refinance

Minimum Debt Service Coverage Ratio: 1.25x

Interest Rates:   low spread over treasury rates - fixed lower spreads for
lower loan to values and higher Debt Service Coverage

Financing Fee: 1%

Loan Application: $4,500 for all reports

Property Requirements: 5 or more multifamily units

Stabilized Occupancy: 90 percent or better physical occupancy (85
percent economic) for the preceding 12 months

Eligible Borrower Structures: Corporation, Limited Liability Company,
Limited Partnership, General Partnership, Trust, Co-Tenant, Individual.
The Borrower is not required to be a single asset entity

Non-U.S. Key Principals: NOT eligible

Borrower / Key Principal Financial Eligibility: Generally, post-closing
liquidity equal to or greater than nine (9) months of debt service and
Aggregate Key Principal net worth equal to or greater than the subject
loan amount

Borrower / Key Principal Real Estate Experience Requirements: Minimum
of 3 years ownership with two multifamily properties (5+ units) OR Five
years or more with the subject property

BORROWERS need GOOD TRACK RECORD -   
PORTFOLIO of at least a few properties -  GOOD CREDIT - SEVERAL
YEAR HISTORY OF OPERATING APARTMENT
S


LOAN REQUEST CHECKLIST

Cities - Chicago, Baltimore, Boston, Los Angeles, New York City, San
Diego,San Francisco, San Jose (CA), Sacramento, Seattle, Philadelphia
and Washington























KEYWORDS: Small apartment Loan Chicago, Apartment Lender IL Small apartment purchase loan,
small apartment refinance, fixed rate, non-recourse
Baltimore, Boston, Chicago, Los
Angeles, New York City, San Diego,San Francisco, San Jose (CA), Sacramento,
Seattle, and Washington
For more details and
for Rate updates go
to:
Small Apartment
Loan Blog

Scott Kendall
(847) 903-7578
Scott

Charles Kendall

(773) 259-7074
Chuck
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KENDALL REALTY ADVISORS