If you are interested in Fannie Mae Affordable Housing Preservation, it's important to understand your options. Below you will find frequently asked questions concerning Affordable Housing Preservation to help you with your lending decision. See below to find out what properties are eligible, the top benefits, the minimum debt service coverage, and more.
Fannie Mae Affordable Housing Preservation Questions
Questions & Answers
What are the available terms and amortization?
The term available is 5-30 years with an amortization of up to 35 years
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Is this loan non-recourse?
Yes, this is a non-recourse execution with standard carve-outs for “bad acts” such as fraud and bankruptcy.
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What are the benefits?
- Flexible underwriting to specific affordable developments
- Competitive pricing
- Flexible loan terms, and fixed- or variable-rate financing options
- Certainty and speed of execution
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What property types are eligible?
- Expiring Low-Income Housing Tax Credit deals
- Refinancing of existing tax-exempt bond deals
- Properties eligible for the Rental Assistance Demonstration (RAD) program
- Properties with HUD Section 8 HAP Contracts
- Properties with existing Rural Housing Service (RHS) Section 515 loans
- Loans insured under Sections 202 or 236 of the National Housing Act
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