Fannie Mae Apartment Small Loan Program - Speedy Processing / Rate Lock

The Fannie Mae Small Loan Program is constructed for more timely execution of non-recourse fixed rate apartment loans between $750,000 - $5,000,000 for stabilized apartment buildings with more than 4-units.  Currently, 10-Year fixed rate pricing is at a +/- 200 basis point spread over 10-Year Treasury Notes depending on Tier program qualifications.  As of October 1, 2010, this means fixed interest rates of +/- 4.5% at PAR. 


Currently, deligated seller/servicer processing across the country is running 3 - 4 months for qualifying loans due to the heavy volume, as many borrower's see increasing long term Treasury rates in the near future.  Current rates have been kept at historical lows by the FED's purchasing of long term US Treasury securities.  Most economists believe this FED tool to keep yields down to stimulate growth will not continue for long.


Within the Western United States (with an emphasis on CA), Southbridge Capital is processing loans under this program for a number of seller/servicer correspondents.  Due to the volume of transactions we bring to our correspondents, we are able to process loans in an average of 45 days from application, as we pre-underwrite and process those files.  Further, we are currently delivering Irrevocable Commitments and Rate Locks within 30-days of application.


Today is all about speed of execution for borrowers looking to take advantage of current rates.  Southbridge is ready to assist you and your clients.


Please call Erich Beringer @ 858-722-2060 to submit an application or discuss our programs further.

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You can reach me at or call me at 858-722-2060. I was unable to get through to you at the above e-mail address (got a bounce back).

Max, please send me your contact info at Again, the above e-mail account just gets a bounce back from my computer. Alternatively, you can call me at 858-722-2060.
Hi Erich

I am sending you this notice to look for my email, I have several properties that I would like to talk to you about for your funding program
I have a client looking for this type of financing in Chicago to purchase/rehab a 24+unit apt. building. I'll send you an email with more details.

I am sorry, but Chicago is out of our business are for this product. We only process throught the small loan program in the Western US with a concentration in CA.

In Chicago, we would only be able to finance through our bridge loan products. Please feel free to call on my at or at 858-722-2060.


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