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Multi-Housing Lenders in DFW Dallas Fort Worth with Unfunded Forward Loans for Affordable Housing new construction and rehabilitation projects

Apartment Loan Amount

Minimum $1 million

Fannie Mae Unfunded Forward Multifamily LIHTC Affordable Housing Loans

Fannie Mae provides a 24- to 30-month forward commitment with or without rate lock prior to delivery of the permanent loan

Property Type
Multifamily; new construction and rehabilitation

Loan Amount
Minimum $1 million

Commitment Period
24- or 30-month forward period, with one 6-month extension available at Lender’s discretion

Up to 30 years

30 years

Debt Service Coverage
Minimum 1.15x if LIHTC; 1.20x if other affordable

Loan to Value Maximum
90% if LIHTC; 80% if other affordable

Domestic single asset borrowing entity is required

Interest Rate
Spread over applicable treasury as adjusted for loan term, amortization, DSC and LTV

Rate Lock
If applicable, rate lock typically occurs concurrently with construction loan closing at Borrower’s request; Subject to loan committee approval

Non-recourse excluding customary carve-outs

Underwriting completed to Fannie Mae DUS standards; Organizational document review and credit due diligence applies

Forward commitment converts to permanent loan when property reaches 90% occupancy for 90 days (minimum); Permanent loan amount may be changed based on NOI in place at time of underwriting, subject to applicable shortfall and/or breakage fees; Lender required to complete full underwriting in accordance with standard DUS Guide requirements prior to permanent loan closing

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 reports

Origination Fee
Fannie Mae requires a minimum origination fee equal to 1% of loan amount, can be reduced for loans over $9 million; Origination fee can be charged “outside” of the interest rate as a separate fee, or it can be built into the rate

Fannie Mae Standby Fee
Determined by Fannie Mae prior to rate lock; Call for current quotes

Delivery Assurance
3% refundable deposit due prior to rate lock; 1% refundable deposit due if no rate lock option is selected

Other Costs
Borrower responsible for legal, G.R.E.A. monitoring and customary closing costs

For current LIHTC Unfunded Forward Affordable Housing loan mortgage rates and custom quotes, contact our Fannie Mae lenders in DFW at 214-679-9673

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;