Our Loan Programs 
Through NAL’s choice of loan programs, we are able to structure a program that best suits your multi-family or 4-5 star mobile home park loan needs, and at extremely competitive rates.

Listed below are our most popular fixed rate and adjustable rate programs. Please go to our Loan Request Form page to contact us for a loan request, or call us at 831-763-1000.

Fannie Mae (FNMA) Loan Programs

Fixed Rate Loan Programs
Loan Amount - $750,000 minimum
Amortization -   15 to 30 years
Term -   5, 7, 10, 15, 18, 25 or 30 years
Interest Rate -   Based on the corresponding U.S. Treasury yield plus a margin ("spread") determined by a combination of the ratio of the loan payment over the underwritten net operating income (called "Debt Service Coverage Ratio" DSCR) and loan to value (LTV).
Origination Fee -   1% or less, subject to loan amount and spread. FNMA DUS (Delagated Underwiter and Servicer) fee included in spread.
DSCR/LTV -   Minimum DSCR is 1.25. Maximum LTV is 80%.
Subordinate Financing -   Yes, after one year from loan funding, subject to property qualification.
Assumability -   Yes, subject to qualification and a 1% assumption fee.
Prepayment -   Yes, subject to yield maintenance or defeasance.
Occupancy -   Usually 90% during last 90 days. Occupancy of over 85% on a case by case basis.
Borrower -   Usually a single asset entity. A waiver on this may be requested.
Recourse -   Recourse and non recourse options available. Loan structures are usually non recourse.

Adjustable Rate Loan Programs
FNMA adjustable rate loans are the same as fixed rate loan requirements as noted above with the following differences:
Term - 5,7 or 10 years
Interest Rate -   Based on the 1 or 3 month LIBOR index ( your choice ) with rate reset changes based every 30 or 90 days.
Prepayment -   Waived after the first 12 months when converted to a FNMA fixed rate loan. Prepayment not allowed during first 12 months. After the first 12 months if the loan is not converted to a FNMA fixed rate loan a prepayment fee of 1% or declining fee may be selected.
Rate Ceiling -   1% per rate period ( 1 or 3 months ) with a lifetime ceiling of 3 to 4.5% over the initial fully indexed rate.

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