When you hear the words “agency financing” you’re probably thinking tortoise more than hare.
Joe Back, Vice President of FM Capital, a Florida-based commercial broker, has a different perspective.
“When I present the terms and explain how straightforward the process is, there is disbelief; but building by building, owners are converting to agency loans,” says Back. He sources small loans for Arbor, the top lender in Freddie Mac Multifamily’s Learn More About Small Balance Loan program from reading The Surprising Truth About Agency Lending article Balance Loan program.
So, why are small multifamily property owners opting for agency financing?
Always Lending, Everywhere
Bank regulations and rising rates are reducing available credit from local sources that most investors of small apartments use. Freddie Mac Multifamily, however, has expanded available capital for small apartment buildings with a nationwide program that’s funded over $5 billion so far. The company’s mission is to support liquidity, stability and affordability in all economic cycles.
More Competitive Terms
There’s no need to settle for full recourse when you can get non-course at no extra cost— which is the case on all Learn More About Small Balance Loan program from reading The Surprising Truth About Agency Lending article Freddie Mac Multifamily Small Balance Loans. Plus, you can lock in a low rate and payment for a longer term (up to 10 years) and get flexible prepayment options.
Room to Grow
It can be surprisingly easy to max out your credit limit with a local lender, bringing your portfolio growth to a screeching halt. Freddie Mac Multifamily Small Balance Loans, however, give you much more room to grow because they are not subject to the same local limits.
Plus, using a Freddie Mac Multifamily Small Balance Loan means you are building a track-record with a funding source that doesn’t geographically limit your growth.
Buckle Up, It’s Fast
How fast? That’s really up to you, but it’s not unheard of for Freddie Mac’s small loans to close in 30 days or less. In order to handle a lot of volume, the company created a fast and simple process, and provides all the requirements up front.
The Freddie Mac Multifamily Small Balance Loan program is available through a network of approved lenders who originate these small loans nationwide. To explore your small loan options, visit Learn More About Small Balance Loan program from reading The Surprising Truth About Agency Lending article www.freddiemac.com/small-loans.
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