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’s Multifamily Mortgage Business offers financing options for loans up to $3 million for the acquisition or refinance of apartment buildings and other multifamily properties.
Fannie Mae provides loans for residential real estate developments where the borrower owns the mobile housing sites and associated common amenities and infrastructure.
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.
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.
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 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.
Apartment loans and multifamily mortgages at low rates. We offer Fannie Mae, Freddie Mac, FHA, conventional, CMBS, Insurance, and construction multifamily mortgages.
This program financing options for properties in which the residents collectively own the building(s) and property through their shares in the cooperative corporation.
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.
