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Fannie Mae M-PIRE Apartment Loans

Fannie Mae M-PIRE Apartment Loans

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. This program provides competitive pricing and a speedy execution. Eligible properties include conventional, affordable housing, cooperative properties, and energy efficient multifamily properties in New York City.

Fannie Mae M-PIRE Apartment Loans
Term 5, 7, and 10 years
Amortization 30 years
Max LTV The max LTV may be no more than 5 percent greater than the maximum allowable LTV ratio for that loan type and lender contract, as listed in Fannie Mae Multifamily Underwriting Standards.
Max LTV 5% higher than applicable LTV limitation for the mortgage loan and the underlying property.
Min DSCR DSCR Calculator Loans must underwrite to a DSCR no more than 5 basis points lower than standard underwriting guidelines when underwriting the loan with the additional loan proceeds but without the benefit of the reduced, projected energy and water cost savings.
Recourse Requirements Loss Standard recourse carve-outs apply.
Rate Lock Standard rate lock requirements apply.
Escrows Replacement reserve, tax, and insurance escrows are typically required for higher leverage transactions.
Third-Party Reports - Standard third-party reports including Appraisal, Phase 1 Environmental Assessment, and a Physical Needs Assessment are required.
- The Physical Needs Assessment must include the new High Performance Building module, or an equivalent scope of work that meets the requirements of the ASHRAE Level 2 audit.
Interest Rate Fixed Rate
Interest Rate and Accrual Method Fixed rate. 30/360 and Actual/360 accrual methods are available.
Rate Lock Standard rate lock requirements apply.
Assumption Loans are typically assumable.
Prepayment Options Yield maintenance and other graduated prepayment options are available.
Supplemental Loans Supplemental M-PIRE loans can only be placed behind an existing Fannie Mae loan.
Fannie Mae Loan Programs
Adjustable Rate Mortgage 7-6 Affordable Housing Preservation
Bulk Delivery Choice Refinance Program
Cooperative Property Financing Credit Facility
Fixed-Rate Mortgage Fannie Mae Standard DUS Loans
Green Preservation Plus Manufactured Housing Mortgages
M-PIRE Mortgage Senior Housing Financing
Structured Adjustable-Rate Mortgage Student Housing Financing
Supplemental Tax-Exempt Bond Credit Enhancement

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Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever

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If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.

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We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them

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