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Freddie Mac Capped ARM


loan products:

fannie mae
Fixed Rate
ARM
DMBS
Tax-Exempt Bond Credit
 Enhancement

Small Mortgage
Seniors
Student
MHC
Structured ARM
DUS PLUS
Unfunded Forward Rate Lock Commitment
Custom Loan Options

freddie mac
Fixed Rate
Float-to-Fixed-to-Float
Capped ARM
High-Leverage
Lease-Up Executions
Tax-Exempt Bond Credit Enhancement
Interest Only

capital markets
Multifamily
Retail
Office
Hotel
Industrial

additional information
interest rate calculation
prepayment options
supplemental mortgages
Freddie Mac High-Leverage

For standard multifamily property types
Product Overview

Eligibility
Market rate garden, mid and high-rise apartments, co-ops and senior housing apartments

Combined Loan Amounts
$3 million minimum. $22.5 million maximum.

Term/Amortization
7 to 10 year term
Up to 30 year amortization

Interest Rate 
Fixed only. Separate rates on 1st and 2nd mortgage locked simultaneously

Combined DSC Ratio
1.15x%

Loan to Value
75% maximum (1st)
Greater of 10% or $500,000 maximum (2nd) 85% maximum (combined)

Personal Recourse
None, except for typical lender "Carve-Outs"

Prepayment   Click for more information
Prepayable in full, subject to applicable yield maintenance

Third Party Fees
Includes appraisal, environmental, and engineering reports

Minimum Occupancy Requirement
90% for 90

Replacement Reserve Impounds
Required. Not less than $150/unit

Assumability
Assumable with lender approval

Supplemental Mortgages
Not allowed while 2nd mortgage is outstanding

Available only in select regions. Contact us to find out if your property qualifies.

Click here for printer friendly pdf
 
 
 

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