© 2024 Fannie Mae. Trademarks of Fannie Mae.
Multifamily Term Sheet
Page 1 of 2
Term
5-30 years.
Amortization
Up to 35 years.
Service Provider
Certification
Cost of initial Service Provider certification, up to
$5,500 will be reimbursed by Fannie Mae. Service
Provider must obtain recertification every 5 years.
Property Level
Certification
Sponsors, or 3rd party service provider, must obtain
CORES certification from an approved Fannie Mae
provider prior to Lock. Borrowers must also obtain
Property-level Enhanced Resident Services
certification from an approved Fannie Mae provider
before Rate Lock. Cost of initial property-level
certification, up to $750 will be reimbursed by Fannie
Mae. Borrower must obtain yearly Property re-
certification.
Interest Rate
Fixed- and variable-rate options available
Maximum LTV
Varies by product type.
Minimum DSCR
Varies by product type.
Benefits
• Lower interest rate
• Initial Service Provider certification and
Property certification reimbursed by
Fannie Mae
• Flexible underwriting to specific
affordable developments
• Flexible loan terms, and fixed- or
variable-rate financing options
• Certainty and speed of execution
For More Information
Contact a Fannie Mae representative
or visit the Multifamily Affordable Loans
and Healthy Housing Rewards Portals
for details.
Healthy Housing Rewards™
Enhanced Resident Services™
Fannie Mae Multifamily offers Healthy Housing Rewards Enhanced Resident
Services, a product feature that provides lower pricing to finance affordable
properties with enhanced resident services to improve the health and stability
of their residents.
Enhanced Resident Services include health and wellness services, work and
financial capability support, and more.
Eligibility
• Multifamily properties with rent or income
restrictions where at least 50% of the units
are affordable to households earning no
more than 80% of Area Median Income.
• Eligible Properties include:
Multifamily Affordable Housing (MAH);
Properties subject to Sponsor Initiated
Affordability (SIA); and
Sponsor Dedicated Workforce
Housing (SDW).
• One-time benefit per Borrower per
Property. Cannot be combined with
Healthy Housing Rewards Healthy Design
benefits.
multifamily.fanniemae.com/financing-
options/specialty-financing/healthy-
housing-rewards
© 2024 Fannie Mae. Trademarks of Fannie Mae.
Page 2 of 2
Multifamily Term Sheet
Prepayment
Availability
Flexible prepayment options available including yield maintenance and declining prepayment premium.
Loan Amount
No minimum or maximum.
Rate Lock
30- to 180-day commitments. Borrowers may use the Streamlined Rate Lock option. Confirmation of
Sponsor-level and Property-level Enhanced Resident Services certifications is required prior to Rate
Lock.
Accrual
30/360 and Actual/360.
Recourse
Non-recourse execution is available, with required standard carve-outs for “bad acts” such as fraud and
bankruptcy, as well as for failure to maintain required Service Provider and Property-level certifications
throughout the loan term.
Third-Party Reports
Standard third-party reports, including Appraisal, Phase I Environmental Assessment, and a Property
Condition Assessment, are required. Confirmation of Healthy Housing Rewards eligibility is required.
Assumption
Mortgage Loans are typically assumable, subject to review and approval of the new borrower’s financial
capacity and experience.
