Agency and FHA

We originate multifamily loans principally for Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). We choose the organization to approach based on your specific needs so we can provide you the ideal solution with the lowest cost of financing.

Fannie Mae

Fannie Mae

Wells Fargo Multifamily Capital can originate, underwrite, close, and deliver multifamily mortgages without Fannie Mae’s prior review. As a DUS lender, we are able to act quickly and be flexible in structuring transactions.

Learn more about Fannie Mae

Features

• Extended rate lock. Lock in a rate up to 12 months in advance of funding
• Supplemental mortgages.
• Prepayment options. Yield maintenance, defeasance, or graduated
• Flexible rate options. Choose from fixed rate, adjustable rate or structured adjustable rate mortgages, or discount mortgage-backed securities

Products

• Standard DUS Mortgage. Financing for acquiring, refinancing, and rehabilitating multifamily properties
  • Fixed+1. Attractive fixed rate for initial term, followed by a one-year adjustable-rate term, during which the loan may be repaid without a prepayment premium
  • DUS Plus. Mezzanine financing combined with a conventional fixed-rate DUS loan offering additional leverage of up to 85% LTV
• Affordable housing. Debt financing and equity investment, with forward commitments, bond credit enhancements, and LIHTC and Section 8 housing
• Specialty financing. Available for senior housing, assisted living, independent living, student housing, and manufactured housing communities
• Credit facility. Long-term and short-term flexible financing available for a single pool of cross-collateralized and cross-defaulted multifamily mortgages

Freddie Mac

Freddie Mac

Wells Fargo Multifamily Capital is an approved Freddie Mac Multifamily Seller/Servicer, which allows us to underwrite a potential loan transaction and submit documentation to Freddie Mac for approval. Freddie Mac then re-underwrites the loan and issues a commitment to purchase the loan from Wells Fargo Multifamily Capital while we remain the servicer for the life of the loan.

Learn more about Freddie Mac

Features

• Early rate lock. Rate lock 30 to 180 days (up to 270 days with Freddie Mac approval) in advance of funding
• Supplemental mortgages.
• Prepayment options. Yield maintenance (with non-standard YM periods available) and alternative prepayment options for adjustable-rate mortgages
• Flexible rate options. Choose from fixed rate, standard adjustable rate mortgages, capped adjustable rate mortgages, or fixed-to-float

Products

• Multifamily fixed-rate programs.
• Premier lease-up execution. Extended early-rate lock (up to 18 months) can be used for qualified conventional, newly constructed, or substantially renovated properties in lease-up
• Affordable housing. Debt financing and equity investment, with forward commitments, bond credit enhancements, and LIHTC and Section 8 housing
• Specialty financing. Available for senior housing, assisted living, independent living, student housing, and manufactured housing communities
• Credit facility. Long-term and short-term flexible financing available with non-crossed or revolving credit facility programs
• Single-family rental pilot program. Long-term, low-rate financing for borrowers in the affordable housing segment who own a portfolio of single-family rental properties

FHA

FHA-insured mortgages

The FHA provides mortgage insurance to approved lenders, such as Wells Fargo, to make loans to borrowers for multifamily and healthcare properties. These loans facilitate long-term, fixed-rate, fully amortizing financing, and allow financing through the issuance of tax-exempt bonds and Ginnie Mae Mortgage-Backed Securities (GNMA-MBS).

Borrowers benefit from low interest rates and high-leverage debt, saving you money and providing hard-to-obtain capital. Our originators and underwriters have more than 30 years of experience working with HUD and the FHA. We offer multifamily and specialty financing, as outlined in the National Housing Act.

Learn more about FHA-insured mortgages

Features

• Low-cost financing, with low interest rate and high-leverage debt
• Fully non-recourse
• Supplemental mortgages
• Long-term financing (up to 40 years)

Multifamily financing

• Section 221(d) or Section 220. New construction or sub-rehab loans for multifamily properties
• Section 223(f). Refinancing or acquisition loans for existing multifamily properties
• Section 223(a)(7). Refinancing of current FHA-insured loans (all loan types)
• Section 231. New construction or sub-rehab loans for age-restricted (62+) multifamily properties
• Section 241(a). Supplemental loans for repairs and expansions of HUD-insured multifamily properties

Healthcare financing

• Section 232. New construction or sub-rehab loans for healthcare facilities (nursing homes, assisted living facilities, board and care homes)
• Section 232/223(a)(7). Refinancing of current FHA-insured healthcare transactions
• Section 232/223(f). Refinancing or acquisition loans for existing healthcare facilities
• Section 241(a). Supplemental loans for repairs and expansions of HUD-insured healthcare properties
• Section 242. Hospital financing
• Section 242/223(a)(7). Refinancing of current FHA-insured hospitals