Multifamily: Fannie Mae Small Loan?

Question

I'm interested in the Fannie Mae Small Loan program for the feature of 30 yr fixed interest rates on a loan amount of $1m to $3m. This would be for the acquisition of a multifamily property in Colorado.

Has anyone gone through the process of securing a fannie mae loan on an acquisition? Looking for lessons learned.

Thanks!

Ian Stuart · Answer

Hi Paul:

Late to the party here, but I'm a Freddie Mac & Fannie Mae multifamily loan originator with Berkadia who solely focuses on agency multifamily finance. Some context, my team did ~$350M in Freddie & Fannie loans throughout the Western US last year, and our firm is the #1 Freddie, #2 Fannie, and #3 HUD shop in the nation by loan volume. We focus primarily on Freddie, Fannie, and HUD conventional loans >$7.50M (our average deal size last year was around $20M), but we also originate small balance loans (Freddie SBL & Fannie Smalls).

Feel free to reach out anytime w/ questions on these. Happy to send over ballpark program sheets, talk high-level terms, and generally be a resource / sounding board.

Cheers,

Ian

Sri K. · Answer

I was curious about this too. Found this on fannie mae website.

https://multifamily.fanniemae.com/about-multifamily/our-part...

Paul V. · Answer

Thanks Charles, I'm intrigued by the long term interest rate lock feature with the option to get a second loan (I forgot the name of it) to pull out equity down the road without having to refi the first mtg.  I have had a couple chats with a broker that sells this program.

Do you have a broker that you would recommend?  What limitations do you see in the program?  Looking to buy a stabilized property $3-$4m

Thanks!

Charles Seaman · Answer

@Paul V. I've been through the process a few times.  What questions do you have about the process?

Multifamily: Fannie Mae Small Loan?

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