Cash Loan for Affordable Housing Preservation

ELIGIBLE PROPERTY TYPES

Garden, mid-rise, or high-rise multifamily properties that meet affordability criteria and with 90% occupancy for 90 days.
TERMS

Maximum term of 15 years.
PRODUCT DESCRIPTION

Financing for the acquisition or refinance of stabilized affordable multifamily properties with fixed-rate or floating-rate cash loans; see the Fixed-Rate Loan or Floating-Rate Loan term sheet for more information.
TYPE OF FUNDING

Permanent, immediate financing.
MINIMUM DEBT COVERAGE RATIO (DCR)¹

1.25x.
MAXIMUM LOAN-TO-VALUE (LTV) RATIO¹

80% of market value.
CONSTRUCTION LOAN TERM

N/A.
Maximum Amortization

Up to 35 years, depending on the market. Please contact your Relationship Manager to discuss.
PREPAYMENT PROVISIONS

Yield maintenance or defeasance, depending on the product.
SUBORDINATE FINANCING

Permitted per the Freddie Mac Multifamily Seller/Servicer Guide.
TAX AND INSURANCE ESCROWS

Required per the Freddie Mac Multifamily Seller/Servicer Guide.
FEES

Application fee, commitment fee, plus other fees as applicable.
Securitization Available

Yes.

¹Adjustments may be made depending on the property, product and/or market.

²Includes USDA section 515 loans.