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Freddie Mac Floating Rate Apartment Loans

Freddie Mac Floating Rate Apartment Loans

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

Freddie Mac Floating Rate Apartment Loans
Eligible Products Multifamily housing, purpose-built student housing, seniors housing, and Targeted Affordable Housing.
Loan Size $5 million+
Pricing Index 1-month LIBOR index
Early Spread Lock Options Early spread lock option available for varying durations, typically ranging from 60 to 120 days from spread lock until Freddie Mac purchase, as well as our Fast Track Early RateLock option for conventional transactions for 90 or 120 days until Freddie Mac purchase; Sellers should consult with their regional Freddie Mac representative to determine eligibility.
Term 5-, 7-, and 10-year terms
Interest Rate Cap Borrower may obtain its own cap coverage from a third-party provider.
Interest-Only Period Partial-term and full-term interest-only available; see chart below and related footnotes
Max Amort 30 years
Min DSCR DSCR Calculator 1.25x
Amortization Calculations Actual/360
Lockout Period 1 - 2 years
Tax & Insurance Escrow Typically Required
Replacement Reserve Deposit Typically Required
Recourse Non-recourse except for standard carve-out provisions
Prepayment Options Graduated prepayment options
Supplemental Financing Yes, subject to requirements specified in the Loan Agreement

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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