Effective July 31st 2018, Freddie Mac Small Balance Interest Rates have once again decreased. Interest Rates quoted below assume an actual representation of a deal scenario – they are not teased rates requiring the most attractive terms and conditions, as Global knows that rarely applies to most Borrowers. Depending on certain affordability discounts that your multifamily property may qualify for, can also reduce your rate by 40 bps, so please keep that in mind.
The above mentioned tentative Interest Rates would be assuming 80% LTV for Top & Standard Markets and 75% / 70% LTV for Small & Very Small Markets. A lower LTV and better DSCR can also help reduce pricing. Should you elect a Yield Maintenance Prepayment Penalty, Interest Rate will reduce up to 20 bps. *Hybrid loans do have 1% Prepayment Penalty during the floating Rate Period.
Top Markets include Chicago, Los Angeles, San Diego, San Francisco, San Jose, New York, Boston, Washington DC, Philadelphia, Miami-Fort Lauderdale-Palm Beach and the following markets with Freddie Mac approval: Baltimore, Denver, Minneapolis, Portland, Sacramento, Seattle and Salt Lake City.
As a reminder, with Freddie Mac’s Small Balance Loans, we are able to hold the Interest Rate for 35 days once we go under Loan Application. Tax Returns are not required, and loans are Non-Recourse.
Contact Global today to discuss taking advantage of these rates and obtain a quote specifically on your multifamily property!