Fannie Mae ARM City Capital Finance arranges Fannie Mae Adjustable Rate Mortgage (ARM) loans for purchase or refinance of all multifamily property types in California. The Fannie Mae ARM loan is a LIBOR based product and offers increased proceeds over the fixed rate loan with a lower initial interest rate. Fannie Mae ARM multifamily loan will provide up to 80% of the value of the property for terms from 5, 7, and 10 year terms. The ARM loan product features an easy to use conversion option, with wide range of interest rate caps and two prepayment options.This Fannie Mae loan program gives the investors and owners an attractive financing option in a higher interest rate environment. Loan Amount $2 Million minimum. No Maximum Term/Amortization 5, 7, and 10 year terms Up to 30 year amortization Interest only option is available subject to some restrictions Interest Rate Floating rate. Priced based on 1 or 3 month LIBOR. Convertible and non-convertible options available Debt Service Coverage Ratio Minimum 1.0 at Maximum Rate Loan to Value 80% maximum (7 and 10 year term) 75% maximum (5 year term) Occupancy Requirement 85% physically occupancy, 80% economic occupancy Assumable Assumable with lender approval and 1% fee Replacement Reserve Impounds Required-Not less than $150 per unit depending on lender Personal Recourse -Personal Guarantee Non-recourse with standard exceptions for fraud and misrepresentation