NEW YORK, Oct. 11, 2017 /PRNewswire/ -- Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it was selected to offer its clients Fannie Mae's newly enhanced hybrid ARM for small loans.
The Hybrid ARM is a fully amortizing loan with options for a fixed rate in the first five-, seven-, or ten-years, automatically converting to an adjustable-rate mortgage for the remainder of the loan term with no balloon payment due at maturity.
"This exciting newly enhanced product offers commercial small loan borrowers the full flexibility and certainty of execution enjoyed under Fannie Mae's DUS® model," explained Rick Warren, Senior Managing Director at Hunt Mortgage Group. "The program offers small loan borrowers flexible, long-term financing with attractive prepayment options and competitive pricing."
Fannie Mae's newly enhanced Hybrid ARM is a flexible financing tool that offers significant proceeds and a variety of loan term options, providing liquidity to support the small loans market. The product is for conventional small mortgage loans and manufactured housing communities and features:
- Loan amount up to $3 million or $5 million, depending on market and number of units
- Five-, seven- and ten-year fixed-rate term followed by 25-, 23-, or 20-year adjustable-rate term
- Fully amortizing 30-year loan
- Index during adjustable-rate term: 6-month LIBOR
- Margin during adjustable-rate term: 0.80% plus the Guaranty Fee, plus the Servicing Fee
- Maximum interest rate during the adjustable-rate term
"Hunt Mortgage Group is a well-known national leader in small balance lending. The firm has offered Fannie Mae small loans for several years," added Warren. "This newly enhanced Fannie Mae loan program is a powerful new financing tool enabling us to continue to meet borrowers ever evolving financing needs."
About Hunt Mortgage Group
Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products. Since inception, the Company has structured more than $21 billion of loans and today maintains a servicing portfolio of more than $12.5 billion. Headquartered in New York City, Hunt Mortgage Group has 198 professionals in 24 locations throughout the United States. To learn more, visit www.huntmortgagegroup.com.
Hunt Mortgage Group
SOURCE Hunt Mortgage Group