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Fannie Mae DUS PLUS


loan products:

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

Small Mortgage
Seniors
Student
MHC
Structured ARM
DUS PLUS
Unfunded Forward Rate Lock Commitment
Custom Loan Options

freddie mac
Fixed Rate
Float-to-Fixed-to-Float
Capped ARM
High-Leverage
Lease-Up Executions
Tax-Exempt Bond Credit Enhancement
Interest Only

capital markets
Multifamily
Retail
Office
Hotel
Industrial

additional information
interest rate calculation
prepayment options
supplemental mortgages
Fannie Mae DUSTM PLUS

For standard multifamily property types
Product Overview

Eligibility
DUS quality conventional multifamily properties. Underlying DUS loan must be fixed rate.

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

Term
Initial 5 year term with extension options that allow for a full term of 10 years. Underlying DUS loan may be for any standard term.

Amortization
Amortization matches that of the associated DUS loan.

Interest Rate
Mezzanine loan has a fixed rate for the first 5 years. The interest rate during the DUS Plus extension term will be the greater of the DUS Plus rate or a variable rate based on a predetermined 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.

Assumability
Assumable with lender approval and a 1% fee

Supplemental Mortgages   Click for more information
First supplemental loan associated with DUS loan must be used to pay off mezzanine loan.

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