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