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Fannie Mae DUS PLUS


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 DUSTM PLUS
Product overview

Eligibility
DUS quality conventional multifamily properties

Loan amounts
$187,500 (minimum)
10% of the underwritten value (maximum)
The underlying DUS loan must be greater than $3,000,000 and less than $25,000,000.

Term
Initial 5 year term. Extensions up to 10 year term available.

Amortization
Amortization matches that of the associated DUS loan.

Interest rate
Mezzanine loan has a fixed rate for the first 5 years and then converts to a variable rate based on a pre-determined fixed spread to 3 month LIBOR.

Combined debt service coverage
1.10x minimum

Combined loan to value
85% maximum

Personal recourse
Non-recourse with standard "Carve-Outs", including recourse if borrower declares bankruptcy

Prepayment   Click for more information
1 year lockout with a declining prepay schedule

Origination fee
1% of the mezzanine loan amount

Third party fees
All fees are collected in conjunction with the associated DUS loan.

Assumption
Assumable with lender approval and a 1% fee

Supplemental mortgages   Click for more information
Available after 1 year (up to 2 available, plus 1 more upon sale and assumption)

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