Multifamily

Fannie Mae/FHA – $1,500,000 and above

Fixed Term > 30/5 YR 30/7 YR 30/10 YR 35/35  FHA
Start Rate 3.79% 3.85% 4.08% 3.75% 
Spread 2.00 2.00 2.00  n/a
PrePay YM YM YM  LOCK*
Max LTV 80% 80% 80% 83.3% 
DCR 1.20 1.20 1.20  1.17
Fees 0.50% 0.50% 0.50% 0.50% 

*FHA PrePay is Lock for Year one, then – 9,8,7,6,5,4,3,2,1,0,0,0….

Freddie Mac Small Balance – $2,000,000 and above

Term > 30/5 YR 30/7 YR 30/10 YR 20/5+15 20/7+13 20/10+10
Rate 3.99% 4.30% 4.42% 4.07% 4.30% 4.52% 
Spread 2.75 2.75 2.75 
PrePay YM YM YM YM YM  YM
Max LTV 80% 80% 80% 80% 80% 80% 
DCR 1.20 1.20 1.20 1.20 1.20  
Fees 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%

 

$1,000,000 to $5,000,000 – 30 year fully amortized Hybrid

Fixed Term > 3 YR 5 YR 7 YR 10 YR 15/15
Rate 3.90% 3.95% 4.125% 4.25% 4.75%
6 Mo Libor Margin 2.50 2.50 2.50 2.50 n/a
PrePay 3-2-1 5-4-3-2-1 5-5-4-4-3-2-1 5-4-4-3-3-2-2-1-1 5-4-4-3-2-2-2-2-1
Max LTV 75% 75% 75% 75% 75%
DCR 1.20 1.20 1.20 1.20 1.20
Fees 0.75% 0.75% 0.75% 0.75% 0.75%

 

$500,000 to $6,000,000 – 30 year fully amortized Hybrid

Fixed Term > 1 YR 3 YR 5 YR 7 YR
Rate 4.00% 4.05% 4.25% 4.75%
6 Mo Libor Margin 3.125 3.125 3.125 3.125
PrePay 3-2-1 3-2-1 5-4-3-2-1 5-4-3-3-2-2-1
Max LTV 75% 75% 75% 75%
DCR 1.20 1.20 1.20 1.20
Fees .75% .75% .75% .75%

 

$100,000 to $750,000 – 30 year fully amortized Hybrid (So. Cal ONLY)

Fixed Term > 6 Mo ARM 3 YR 5 YR
Start Rate 3.99% 4.25% 4.50%
Prime  Rate 1.50 1.50 1.50
PrePay 3-2-1 3-2-1 3-2-1-1-1
Max LTV 70% 70% 70%
DCR 1.20 1.20 1.20
Fees 2.00% 2.00% 2.00%