Refinancing multi family attempt #2

[Alex P.]

Does anyone have experience trying to refinance a multi family commercial loan with Fannie a second time on the same property, after the first attempt failed?

About a year and a half ago, we were pretty far along in the refinance process with Fannie, but the loan fell through at the last minute due to occupancy dropping below 90% one month, combined with the condition of the property, I’m told. Since that time, we have made the repairs noted and held steady occupancy.

I’m wondering if anyone has had any luck going back to Fannie on the same property or if it’s expected that they won’t consider the deal again?

Thanks for sharing your experience!