Multifamily

Fannie Mae/FHA – $3,000,000 and above

Fixed Term > 30/5 YR 30/7 YR 30/10 YR 35/35  FHA
Start Rate 3.17% 3.43% 3.58% 3.25% 
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 – $1,000,000 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% 3.90% 3.35% 4.47% 
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%

 

$75000 to $5,000,000 – 30 year fully amortized Hybrid

Fixed Term > 3 YR 5 YR 7 YR 10 YR 15/15
Rate 3.20% 3.25% 3.60% 4.00% 4.875
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 3.30% 3.50% 3.55% 3.80%
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 1.00% 1.00% 1.00% 1.00%

 

$50,000 to $500,000 – 30 year fully amortized Hybrid (So. Cal ONLY)

Fixed Term > 6 Mo ARM 3 YR 5 YR
Start Rate 3.99% 4.24% 4.49%
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%