Fannie Mae Fixed Rate City Capital Finance arranges Fannie Mae Fixed rate loans for purchase or refinance of all multifamily property types in California. The Fannie Mae Fixed Rate loan will provide up to 80% of the value of the property for terms from 5 to 30 years. It also gives borrowers the choice for balloon or fully amortizing mortgage options, early rate locks and supplemental loans. Loan Amount $1 Million minimum. No Maximum Term/Amortization 5 to 30 year terms Up to 30 year amortization Interest only option is available subject to some restrictions Interest Rate Fixed Rate Fixed rate followed by an automatic conversion to a 1 year ARM for the last year of the loan term Debt Service Coverage Ratio Minimum 1.25 depending on specific market Loan to Value 80% maximum (greater than 5 year term) 75% maximum (5 year term) Assumable Assumable with lender approval and 1% fee. Replacement Reserve Impounds Required-Not less than $250 per unit Personal Recourse-Personal Guarantee Non-recourse with standard exceptions for fraud and misrepresentation