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 5.75% 6.60% 7.90% 5.00% 
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 6.25% 7.00% 6.57% 6.95% 6.50% 6.75% 
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 7.55% 7.65% 7.75% 7.25% 6.75%
SOFR 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%

$100,000 to $750,000 – 30 year fully amortized Hybrid (So. Cal ONLY)
Fixed Term > 6 Mo ARM 3 YR 5 YR
Start Rate 9.75% 10.25% 10.50%
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%