Definition: Federal National Mortgage Association; commonly known as “Fannie Mae’, the FNMA is the largest buyer of existing mortgages. The Federal National Mortgage Association was originally organized by the federal government in 1938 to purchase FHA-insured mortgages. The association was reorganized in 1968 as a quasi-private corporation whose entire ownership is private. Fannie Mae raises capital by issuing corporate stock which is actively traded on the New York Stock Exchange and by selling mortgages out of its portfolio to various investors.
Fannie Mae provides credit enhancement for tax-exempt bonds issued to finance the acquisition, new construction, refinancing, or moderate to substantial rehabilitation of affordable housing multifamily properties with Low Income Housing Tax Credit (LIHTC) rent restrictions.
Fannie Mae’s Multifamily Mortgage Business offers first lien and supplemental mortgage loans that support additional loan proceeds for energy and water efficiency renovations for existing multifamily properties within New York City’s five boroughs.
Fannie Mae provides loans for multifamily seniors housing properties and assisted living homes. Commercial loan direct provides low interest rates for assisted living property mortgages.
For those of you who are getting familiar with Fannie Mae Loans, this program offers federally guaranteed mortgages and is one of the largest multi-family loan programs in the country. There are both fixed and variable products available for all property types and are offered nationwide. Properties that fall under the Fannie Mae category are apartments, affordable housing, senior housing, student housing and manufactured housing. There are two major Fannie Mae loan programs in which the majority of products fall under. These loan products are called The Standard DUS Mortgage Product and the Small Loan Programs.
Fannie Mae’s Multifamily Mortgage Business offers long term financing with a very competitive variable interest rate that is convertible to a fixed rate.
Fannie Mae apartment loans from the #1 ranked correspondent lender. Save with fixed rates and low closing costs.
Fannie Mae provides offers Green Preservation Plus; an execution option that provides additional loan proceeds to finance energy and water efficiency improvements for existing Multifamily Affordable Housing (MAH) properties.
Fannie Mae loans provide financing for student housing properties, which is defined as a conventional multifamily property where 20% or more of the units are leased to undergraduate and/or graduate students, or a property that is specifically built or leased for student housing.
This program provides flexible financing, lower costs, and a fast execution. Eligible properties must be stabilized and must have satisfactory ratings on the most recent property inspection.
Fannie Mae provides financing for student housing properties, which is defined as a conventional multifamily property where 20% or more of the units are leased to undergraduate and/or graduate students, or a property that is specifically built or leased for student housing.
