Newly constructed or recently rehabilitated PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). , with all construction or rehabilitation complete, which is expected to achieve Stabilized Residential OccupancyStabilized Residential OccupancyPercentage of Property units physically occupied by Qualified Occupants, per Part II: Property, Section 104.02 as adjusted for the applicable Part III products and features. and the applicable required Underwritten Debt Service Coverage RatioUnderwritten Debt Service Coverage RatioRatio of Underwritten Net Cash Flow to the annual debt service for a Mortgage Loan amount based on a level debt service payment with the applicable amortization, and calculated per Part II: Property, Section 202, as adjusted for the applicable products and features in Part III. within 120 days after the Mortgage Loan Origination DateMortgage Loan Origination DateDate you fund a Mortgage Loan to the Borrower. .
Near Stabilized Property