Freddie Mac has launched an Optigo® Conventional Forward loan program that works as a forward commitment for the permanent financing of non-subsidized multifamily housing development. Announced in October, the Conventional Forward loan program is designed to provide clarity for both developers and construction lenders on the terms of the permanent debt received when a property stabilizes after new construction or major rehabilitation. It is available for both fixed- and floating-rate loans.
In a recent In Conversation webcast with Lument, Steve Johnson, senior vice president and head of production and sales at Freddie Mac Multifamily, shared his hopes for the program. “We are incredibly excited about this market-rate forward commitment, which is one way we are addressing the broader market to see if we can get deals unstuck and shovels in the ground,” Johnson said.
To see if Freddie Mac’s Conventional Forwards may be a good fit for your objectives, contact Lument today.
