Demystifying the Features of Fannie Mae’s Small Apartment Loan Program
During the economic crisis, many banks that traditionally made loans to owners of small apartment properties have either left the business or cut back on lending. This has left many owners of small apartment properties with limited borrowing choices. One lender that has stuck with small multifamily market and even expanded their outreach is Fannie Mae. A number of Fannie Mae’s small apartment loan program lenders have embraced this loan program and its being marketed by almost every loan broker/banker in the country. The Fannie Mae’s small apartment loan program is entirely different from bank loans that most owners are familiar with and many of the brokers/bankers who are selling the program don’t really know how it works. Hopefully, here you will get all the information to understand these loans better and make it easier for you to evaluate these loan programs. Who Can Be Benefited the Most Taking Fannie Mae’s Small Apartment Loan Program? Wh...