Fannie Mae Small Apartment Loan City Capital Finance arranges Fannie Mae Small multifamily loans for purchase or refinance of apartment buildings and multifamily properties up to $3M in California. The Fannie Mae small apartment loan streamlines the entire loan process and documentation requirements, making the execution fast. It will provide up to 80% of the value of the property for terms from 5 to 30 years Loan Amount $1 Million Minimum to $3 Million Maximum $5M Maximum in Los Angeles, Sacramento, San Diego, San Francisco and San Jose Term/Amortization 5 to 30 year terms Up to 30 year amortization Interest Rate Fixed Rate and Adjustable Debt Service Coverage Ratio Minimum 1.25 Loan to Value 80% maximum 75% maximum for cash out Occupancy Requirement 90% Physical Occupancy Assumable Assumable with lender approval and 1% fee. Replacement Reserve Impounds Required-Not less than $200 per unit Personal Recourse-Personal Guarantee Recourse. Non-recourse available in certain markets