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Bond Credit Lenders in DFW for tax-exempt low-income LIHTC apartments

Apartment Loan Amount

Minimum $5,000,000

Bond Credit Lenders in Dallas Fort Worth for Tax-exempt Low-income LIHTC Apartments

Fannie Mae provides credit enhancement for tax-exempt multifamily housing revenue bonds that have low- and moderate-income occupancy restrictions; Fixed rate bonds can be enhanced; Enhancement is rated AA, and can be used in either a new bond issuance, “Refunding,” or a “Credit Substitution”

Loan Amount Minimum

Loan Terms
10 to 30 years

Up to 30 years

Loan to Value Maximum
The greater of 90% of market value or 80% of adjusted value for properties with LIHTC units equal to or above 90%; the greater of 85% of market value or 75% of adjusted value for all others

Coverage Minimum
1.15x for properties with LIHTC units equal to or above 90%; 1.20x for all others

Domestic single asset borrowing entity is required

Interest Rate
Risk-based pricing, varies with LTV and DSC ratios

Third Party Reports
MAI appraisal, Physical Needs Assessment, and Environmental Phase I Assessment are required for all deals; Seismic Report is required for properties in Seismic Zone 3 or 4 with other characteristics; A market
study may also be required

Tax and insurance escrows are required; Repair and Replacement escrow funding is required based on engineer’s Physical Needs Assessment; For loans at less than 65% of value with no deferred maintenance, funding of repair and replacement reserve can be waived, at lender’s discretion

Application and Due Diligence Fees

  • $2,500 non-refundable Application Fee to cover internal underwriting costs
  • $12,500 Due Diligence Fee to cover third party reporting

Origination Fee
Fannie Mae requires minimum origination fee equal to one percent of loan amount; can be reduced for loans over $9 million

Timing is dependent on type of credit enhancement, status of bonds, 3rd party report timing and borrower’s submission of due diligence

For current Fannie Mae DUS Bond Credit Enhancement Loans loan mortgage rates, contact our multifamily LIHTC lenders in Dallas.

Call For a Quote:

(214) 679-9673

Related Fannie Mae Loan Options

Fannie Mae Moderate Rehabilitation Loan Program

Non-recourse, assumable financing for the acquisition or refinance of any asset class with planned capital improvements in excess of $8,000 per unit for the entire property.

Fannie Mae Near-Stabilization Loan

Permanent mortgage loan financing for newly constructed or recently renovated conventional and affordable multifamily apartment communities expected to achieve stabilized occupancy within 120 days.

Fannie Mae Seniors Housing Loan Program

Non-recourse, assumable financing for the acquisition or refinance of stabilized independent living (IL) and assisted living (AL) properties; Properties that assist residents with memory care (MC) are eligible for financing under Fannie Mae’s Seniors Housing Program;