Qualified borrowers who own and are purchasing investment real estate nationwide are increasingly turning to US‐government backed Fannie Mae & Freddie Mac loan underwriting for long‐term fixed rate mortgages on their stabilized, income producing, and professionally managed real estate property.
FNMA & FHLMC designated service provider programs for apartment building owners offer superior loan terms; and, not surprisingly, require passage of loan underwriting guidelines that are among the most rigorous to qualify.
235 Insurance works with dozens of borrowers who own apartment buildings backed by Agency debt and understands the insurance guidelines, which vary by building size and scope, and must clear a compliance audit before closing on your loan. Agents who are inexperienced with FNMA underwriting will have a tough time crafting your insurance policy to meet guidelines, and/or expect last minute price increases from your agent to get in compliance for a closing.
To work with an insurance broker for your Fannie Mae or Freddie Mac real estate loan who is experienced with pricing and providing lender accepted terms, #contact235.
Sample Insurance Guidelines on FNMA Apartments Financing:
- Replacement cost @ Agreed value (no coinsurance)
- 12 months ALS Business Income and six months extended indemnity
- 100%/10%/10% Ordinance & Law ABC Limits
- Umbrella liability limits up to $10MM
- TRIA and Equipment breakdown included
- Flood and quake coverage depending on risk mapping zones.
235 Insurance is led by Managing Broker Keith Z. Murphy CLCS, a licensed insurance professional since 2008. The company’s retail HQ is located at the corner of Diversey and Halsted in Chicago’s Lincoln Park neighborhood. Its core customer service philosophy is to “never leave for tomorrow, what can be done today.”