MULTIFAMILY UNITS LOANS

Fannie Mae and Freddie Mac are the leading providers of financing for multifamily properties. Below are the program highlights.

Amazing 5, 7, 10, 15 & 30 Year Fixed Rates for Multifamily Loans 
  • 5 Year Fixed from 3.87%
  • 7 Year Fixed from 3.97%
  • 10 Year Fixed from 4.07%
  • 15 Year Fixed from 4.23%
  • 30 Year Fixed from 4.68%
Fannie Mae Multifamily Loans
- Loan Amount: $750,000 to $5 million
- Loan Terms: Fixed rates for 5, 7, 10, 12, 15, 20 and 30 years
- Amortization: Up to 30 years
- Prepayment Penalty: Yield maintenance and step-down options available
- Recourse: Non-recourse is available
- Debt Service Coverage: 1.25x minimum
- Loan to Value: Up to 75% maximum LTV for refinances and 80% for purchases
- Subordinate Financing: Supplemental mortgages are available after the first 12 months
- Occupancy: 90% for 90 days
- Assumability: Non-recourse loans are assumable
- Taxes and Insurance Escrows: Maybe waived on lower LTV loans
- Net Worth and Liquidity: Required
- Replacement Reserve Escrows: To be determined based upon appraisal and engineering reports
- Rate Lock: Rate lock occurs after commitment is issued; an early rate lock option is also
available
- Due Diligence Fee: $4,500 – $8,500 non-refundable fee for 3rd party reports and processing
- Timing: 45-60 days from complete application to closing

Freddie Mac Multifamily Loan Program
- Loan Amount: $1 million to $5 million
- Loan Purpose: Purchase or refinance, including cash out refinances
- Loan Terms: 5, 7 and 10 year fixed rate, hybrid ARM and fixed-rate loan options
- Amortization: Up to 30 years
- Property Types: Apartment buildings of 5+ units
- Debt Service Coverage: 1.20x in top markets, 1.25x nationwide
- Maximum Loan to Value: 80%
- Recourse: Non-Recourse
- Credit Score: Minimum of 650
- Interest Only: Interest only loans are available
- Occupancy: 90% for 90 days
- Taxes/Insurance: Escrows for taxes and insurance may be waived
- Replacement Reserves: Not usually required
- Rate Lock Deposit: 1% at rate lock, refundable at closing
- Adjustments: Annual and lifetime caps on all adjustments
- Assumable: Yes

Let us put our experience and expertise to work for you. Call us (310) 356-6500