Understand how Fannie Mae SBL deals are evaluated

Learn how DSCR and LTV drive loan sizing through cash flow analysis, expense normalization, and market-based thresholds so you can determine whether a deal works and how much leverage is available.

Learn how market tiers drive risk and pricing

Understand how market classification impacts DSCR requirements, LTV limits, and pricing so you can quote deals accurately across top, standard, small, and very small markets.

Navigate the DUS SBL lender process with confidence

Follow the full execution process from registration through underwriting and closing, including lender selection, timelines, and common pitfalls that impact deal outcomes.

Fannie Mae Small Balance Multifamily Loans 

If you’ve explored Fannie Mae Small Balance Loans but found the process unclear, you’re not alone. Many mortgage professionals have a strong residential background but lack a clear understanding of how multifamily deals are evaluated, particularly when it comes to DSCR, market tiers, and how loan proceeds are determined. This course provides a practical introduction to how Fannie Mae SBL transactions are evaluated, structured, and executed. It focuses on the key drivers of loan sizing, including cash flow and market classification, and walks through how to work effectively with DUS lenders from initial review through closing, so you can approach multifamily opportunities with greater clarity and confidence.

Academy For Commercial Lending

I’m Michael Boggiano, and I’ve spent more than 25 years originating and structuring commercial real estate loans, with a focus on small balance and multifamily lending. My experience has been built through working directly on transactions, understanding how lenders evaluate risk, and seeing firsthand what moves a deal forward from initial review through closing. Early in my career, one of the biggest challenges was the lack of practical guidance on how these deals actually work. That led me to create the Academy for Commercial Lending, with a focus on sharing real-world insight in a clear and usable way. My goal is to help mortgage professionals build confidence, understand how lenders think, and approach commercial lending with clarity and a stronger foundation

Curriculum

9 Chapters · 19 Lessons

  1. 1

    Chapter 1: Introduction to Fannie Mae Small Balance Loans

    1. (Included in full purchase)

      Lesson 1: What Fannie Mae SBL Is and Where It Fits

    2. (Included in full purchase)

      Chapter 1 - Quiz

  2. 2

    Chapter 2: Market Tiers and Risk-Based Lending

    1. (Included in full purchase)

      Lesson 1: How Market Tier Impacts Leverage, DSCR, and Pricing

    2. (Included in full purchase)

      Chapter 2 - Quiz

  3. 3

    Chapter 3: Fannie Mae SBL Loan Structures and Terms

    1. (Included in full purchase)

      Lesson 1: How Fannie Mae SBL Loans Are Structured in Practice

    2. (Included in full purchase)

      Chapter 3 - Quiz

  4. 4

    Chapter 4: Fannie Mae Underwriting and Deal Evaluation

    1. (Included in full purchase)

      Lesson 1: How Fannie Mae Evaluates Multifamily Deals

    2. (Included in full purchase)

      Chapter 4 - Quiz

  5. 5

    Chapter 5: Borrower Requirements and Entity Structure

    1. (Included in full purchase)

      Lesson 1: Understanding Borrower Strength and Structure

    2. (Included in full purchase)

      Chapter 5 - Quiz

  6. 6

    Chapter 6: DUS SBL Lenders and Deal Execution

    1. (Included in full purchase)

      Lesson 1: How Fannie Mae SBL Deals Are Executed in Practice

    2. (Included in full purchase)

      Chapter 6 - Quiz

  7. 7

    Chapter 7: Special Situations and Deal Execution Risks

    1. (Included in full purchase)

      Lesson 1: Avoiding Common Deal Pitfalls in Fannie Mae SBL

    2. (Included in full purchase)

      Chapter 7 - Quiz

  8. 8

    Final Exam

    1. (Included in full purchase)

      Final Exam

  9. 9

    Hand Outs

    1. (Included in full purchase)

      Fannie Mae SBL Lenders Contact List

    2. (Included in full purchase)

      Fannie SBL vs Freddie SBL Comparison

    3. (Included in full purchase)

      Amortization vs Interest Only Comparison

    4. (Included in full purchase)

      Prepayment Penalties Options

What Mortgage Professionals Are Saying About This Course

Testimonials build trust — fast. Edit this section to show how your product is making a difference and help your audience purchase with confidence.

”
This course provides a clear understanding of how Fannie Mae Small Balance deals are actually evaluated. It helped me connect my residential background to how multifamily lending really works
Mike

Mortgage Broker - Orlando, FL

”
Very practical and well structured. It breaks down DSCR, market tiers, and loan sizing in a way that’s easy to apply to real transactions
Rosa

Loan Officer - Clifton, NJ

”
One of the most useful introductions to agency lending I’ve seen. It focuses on execution and how deals move, not just concepts
Joel

Commercial Real Estate Professional - Atlanta, GA

”
This gave me a much better understanding of how lenders think and what actually drives approvals. I feel more confident discussing multifamily deals with clients and lenders
Vince

Mortgage Professional - Charlotte, NC

Take the first step into Fannie Mae Small Balance lending

This course provides a clear, practical introduction to how Fannie Mae Small Balance deals are evaluated, structured, and executed in the real world. You’ll walk away with a stronger understanding of how lenders think and how to approach multifamily opportunities with confidence. Start the course and begin building your foundation in small balance multifamily lending.

Enroll now