Hedge interest rate risk and exposure with a Fannie Mae Unfunded Forward Commitment by locking the interest rate and other key provisions prior to construction.
Fannie Mae Multifamily offers an unfunded forward commitment to issue an MBS upon completion of construction and conversion to a permanent Mortgage Loan for Multifamily Affordable Properties. The MBS as Collateral for Tax-exempt Bonds (MTEB) execution is an available option for 4% LIHTC transactions.
- Hedge interest rate risk and volatility
- Certainty of speed and execution
- 24-30 month commitments
- 90% occupancy prior to conversion
- Fixed rate terms
- Up to 90% leverage
Fannie Mae Unfunded Forward Commitment Program Guidelines
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Eligible property types Multifamily property types: 5+ Unit Apartment Building, 5+ Unit Townhome Style Contiguous, 1-4 unit Residential Contiguous, 1-4 Unit Non-Contiguous > 5 units, 5+ unit Fractured Condominium, Mobile Home Park, Student Housing, Affordable Housing With LURA, Affordable Housing With Section 8, Affordable Housing With HAP, Seniors Housing With Care, 55+ Seniors Housing Without Care, Military Housing, Cooperative
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