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Freddie Mac Fixed Rate Apartment Loans

Freddie Mac Fixed Rate Apartment Loans

The Freddie Mac fixed rate program provides streamlined and flexible financing for apartment and multifamily properties. This program gives the borrower a variety of options to suit their loan characteristics.

Fixed-Rate Loan Options and Requirements
Eligible Products Multifamily housing, purpose-built student housing, seniors housing, cooperative housing, and Targeted Affordable Housing.
Loan Size $5 million+
Term 5- to 10-year terms
Max Amort 30 years
Min DSCR DSCR Calculator 1.25x
Amortization Calculations Actual/360 standard; 30/360 available
Lockout Period 2 years
Prepayment Yield maintenance until securitized followed by 2-year lockout; defeasance thereafter. No prepayment premium for final 90 days. If loan is not securitized within first year, then yield maintenance applies for the life of the loan. Yield maintenance without defeasance is available for securitized loans for an additional cost.
Tax & Insurance Escrow Typically Required
Replacement Reserve Deposit Typically Required
Recourse Non-recourse except for standard carve-out provisions
Prepayment Options Yield maintenance and other graduated prepayment options
Supplemental Financing Yes, subject to requirements specified in the Loan Agreement
Lock Options Early rate-lock option available for varying durations, typically ranging from 60 to 120 days until Freddie Mac purchase.

Program Plus Freddie Mac Loans

Program Plus Options
Fixed Rate Loans Floating Rate Loans
Lease-Up Loans Manufactured Housing Community Loans
Revolving Credit Facility Student Housing Loans
Supplemental Loans Value-Add Loans

Affordable Housing Freddie Mac Loans

Affordable Housing Options
9% LIHTC Cash Loans Bond Credit Enhancement with 4% LIHTC
Bond Credit Enhancement with Other Affordability Components Cash Loan with Other Affordability Components
Direct Purchase of Tax-Exempt Mortgages Preservation Rehabilitation Financing
Supplemental Loans Tax-Exempt Bond Securitization (TEBS)
Variable Liquidity Pricing

Other Freddie Mac Loans

Other Freddie Loan Types
Student Housing Loans Small Balance Loans
Freddie Mac Single-Family Rental (SFR) Pilot Program

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