If you are interested in Fannie Mae Adjustable Rate Mortgage 7-6, it's important to understand your options. Below you will find frequently asked questions concerning ARM 7-6 to help you with your lending decision. See below to find out available terms and amortization, maximum, LTV, top benefits, and more.
Fannie Mae Adjustable Rate Mortgage 7-6 Questions
Questions & Answers
What are the available terms and amortization?
The term available is 7 years with an amortization of up to 30 years
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What is the minimum Debt Service Coverage?
1.00x at the maximum lifetime interest rate
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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?
- Attractive low-cost financing
- No minimum or maximum loan size
- Maximum interest rate is set at rate lock
- Convertible to a fixed-rate loan with minimal re-underwriting
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What property types are eligible?
- Existing, stabilized multifamily properties, including: Conventional, Multifamily Affordable Housing, Seniors Housing, Student Housing, and Manufactured Housing Communities
- Loans for acquisition or refinance
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