Freddie Mac Fixed-Rate Mortgage
Offers flexible finance solution for the acquisition or refinance of multifamily housing properties
Key Benefits
- Versatile terms and amortization schedules
- Fixed-to-float option adds flexibility by providing an optional extension year after the original term with a floating rate
- Extended early rate-lock available for both acquisition and refinance transactions, with ability to lock interest rate up to 12 months prior to anticipated purchase by Freddie Mac (early rate-lock also available, with ability to lock interest rate up to 4 months prior)
At-a-Glance Comparison
| Product Summary | Acquisition And No Cash-out Refinance1 |
|---|---|
| Standard Loan Terms | 5-30 years |
| Supplemental Financing | Available for loans with more than 3 years remaining on first mortgage. See Supplemental Mortgage term sheet for more details. |
Maximum Loan-to-Value Ratio and Minimum Amortizing Debt Coverage Ratio
| CONVENTIONAL LTV AND DCR (additional risk factors may effect the required LTV and DCRs) | Fixed-Rate LTV/DCR | ||
|---|---|---|---|
| Amortizing | Partial Interest-Only | Interest-Only (using amortizing payment) | |
| Acquisition and No Cash-Out Refinance | |||
| > 7 Year Term | 80% / 1.25x | 80% / 1.25x | 65% / 1.30x |
| < 7 Year Term | 70% / 1.30x | 60% / 1.35x | 60% / 1.35x |
| Cash-Out Refinance | |||
| > 7 Year Term | 75% / 1.30x | 75% / 1.30x | 60% / 1.35x |
| < 7 Year Term | 65% / 1.35x | 60% / 1.40x | 60% / 1.40x |
1 If your refinance qualifies as a cash-out transaction, the credit parameters will match the terms published on the Freddie Mac Supplemental Mortgage term sheet. Please contact your sales representative for more information.
2Must have greater than 3 years remaining on first mortgage; no Supplemental allowed if less than 3 years remaining on first; if less than 5 years remains on first, add 5 bps to DCR.
Contact Us
- Download and print Freddie Mac's contact information
PDF Version
- Download the Fixed-Rate Mortgage term sheet.
The information in this document is not a replacement or substitute for information found in the Freddie Mac Multifamily Seller/Servicer Guide. Terms set forth herein are subject to change without notice.