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3MaxExpress Fannie Mae Loan Financing


loan products:

fannie mae
Fixed Rate
ARM
DMBS
Tax-Exempt Bond Credit
 Enhancement

3MaxExpress
Seniors
Student
MHC
Structured ARM
DUS PLUS
Custom Loan Options

freddie mac
Fixed Rate
Float-to-Fixed-to-Float
Capped ARM
Tax-Exempt Bond Credit Enhancement
Interest Only

capital markets
Multifamily
Retail
Office
Industrial

fha
FHA Section 221(d)(3)&(4)
FHA Section 223(f)
FHA Section 223(a)(7)
FHA Section 232
FHA Section 242

other
Bridge
Mezzanine

additional information
interest rate calculation
prepayment options
supplemental mortgages
Fannie Mae 3MaxExpress
Product overview

Eligibility
DUS quality properties excluding coops, manufactured housing communities, student housing and assisted living facilities

Loan amounts
$500,000 minimum. $3 million* maximum.

Term/amortization
5 to 30 year term
Up to 30 year amortization

Interest rates
Fixed or adjustable

Debt service coverage ratio
1.25x minimum (fixed)
1.00x minimum (ARM)

Loan to value
80% maximum

Personal recourse
Non-recourse with standard "Carve-Outs" and Key Principal obligations

Ownership structure
Individual and cotenant borrowers are acceptable. Single asset entity is not required.

Prepayment   Click for more information
Yield maintenance, defeasance or graduated prepayment

Origination fee
1%

Commitment fee
2% (refundable)

Third party fees
Includes legal, limited scope appraisal, engineering, and environmental fees

Minimum occupancy requirement
90% sustained for 90 consecutive days
(85% acceptable for special circumstances)

Replacement reserve impounds
Typically waived

Taxes and insurance impounds
Typically waived

Assumability
Assumable with lender approval and a 1% fee

Supplemental mortgages   Click for more information
Available after 1 year (up to two available, plus one more upon sale)

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