Real Time Rates
Secured Overnight Financing Rate
Multifamily Conventional Rates & Spreads
Fannie Mae - CONVENTIONAL
Term
|
LTV
|
DSCR
|
Spread (bps)
|
Rate
|
15-Year
|
65%
|
1.35x
|
110 - 150
|
5.60% - 6.00%
|
10-Year
|
55%
|
1.55x
|
90 - 130
|
5.40% - 5.80%
|
10-Year
|
65%
|
1.35x
|
110 - 150
|
5.60% - 6.00%
|
10-Year
|
75%
|
1.25x
|
130 - 170
|
5.80% - 6.20%
|
7-Year
|
55%
|
1.55x
|
95 - 135
|
5.38% - 5.78%
|
7-Year
|
65%
|
1.35x
|
115 - 155
|
5.58% - 5.98%
|
7-Year
|
75%
|
1.25x
|
145 - 185
|
5.88% - 6.28%
|
5-Year
|
55%
|
1.55x
|
100 - 140
|
5.35% - 5.75%
|
5-Year
|
65%
|
1.35x
|
120 - 160
|
5.63% - 6.03%
|
5-Year
|
65%
|
1.25x
|
175 - 215
|
6.18% - 6.58%
|
10 SARM
|
75%
|
1.00x
|
260 - 275
|
6.93% - 7.08%
|
* For loans less than $6MM, please reach out to your Fannie representative.
February 7, 2025, 9:14 AM
Freddie Mac CME - FIXED RATE
Term
|
LTV
|
DSCR
|
Spread (bps)
|
Rate
|
15-Year
|
80%
|
1.25x
|
140 - 165
|
5.90% - 6.15%
|
10-Year
|
55%
|
1.55x
|
105 - 110
|
5.55% - 5.60%
|
10-Year
|
65%
|
1.35x
|
110 - 130
|
5.60% - 5.80%
|
10-Year
|
70%
|
1.25x
|
125 - 150
|
5.75% - 6.00%
|
7-Year
|
55%
|
1.55x
|
110 - 125
|
5.53% - 5.68%
|
7-Year
|
65%
|
1.35x
|
130 - 150
|
5.73% - 5.93%
|
7-Year
|
80%
|
1.25x
|
145 - 170
|
5.88% - 6.13%
|
5-Year
|
75%
|
1.25x
|
145 - 170
|
5.80% - 6.05%
|
10 ARM
|
80%
|
1.25x
|
210 - 235
|
6.43% - 6.68%
|
February 7, 2025, 9:14 AM
223(f) Refinancing (FHA)
Term
|
LTV
|
DSCR
|
Rates*
|
Amort
|
35-Year
|
87%
|
1.15x
|
5.55-6.05%
|
35
|
* Before MIP.
February 7, 2025, 9:14 AM
221(d)4 Construction / Permanent (FHA)
Term
|
LTV
|
DSCR
|
Rates*
|
Amort
|
40-Year
|
87%
|
1.15x
|
6.00-6.50%
|
40
|
* Before MIP.
February 7, 2025, 9:14 AM
Life Co - MULTIFAMILY
Term
|
Amortization
|
LTV
|
Spread (bps)
|
Rate
|
5-Year
|
25-30
|
50%-65%
|
145 - 205
|
5.80% - 6.40%
|
5-Year
|
25-30
|
60%-75%
|
155 - 215
|
5.90% - 6.50%
|
10-Year
|
25-30
|
50%-65%
|
130 - 175
|
5.80% - 6.25%
|
10-Year
|
25-30
|
60%-75%
|
155 - 215
|
6.05% - 6.65%
|
15-Year
|
Fully Amortizing
|
60%-75%
|
155 - 215
|
6.18% - 6.78%
|
* Rate buy downs available on deal by deal basis.
February 7, 2025, 9:14 AM
CMBS Spreads/Rates
Term
|
Amortization
|
LTV
|
Spread (bps)
|
Rate
|
5-Year
|
30
|
65-75%
|
250 - 300
|
6.85% - 7.35%
|
10-Year
|
30
|
65-75%
|
225 - 275
|
6.75% - 7.25%
|
5-Year
|
30
|
65-75%
|
250 - 300
|
6.85% - 7.35%
|
10-Year
|
30
|
65-75%
|
225 - 275
|
6.75% - 7.25%
|
* Rate buy downs available on deal by deal basis.
February 7, 2025, 9:14 AM
Rates are general in nature and are for informational use only.
Rates are subject to change at any time and the information
provided is not a commitment to lend. For specific quotes
based on your property, contact a local Northmarq office.
Multifamily Affordable Rates & Spreads
MAH PRESERVATION* - FIXED RATE (>$6M LOAN SIZE)
Term
|
Amort
|
Index
|
LTV
|
DSCR
|
All-In Rate
|
10-Year
|
30
|
10Y UST
|
60%
|
1.50x
|
5.45% - 5.75%
|
10-Year
|
30
|
10Y UST
|
80%
|
1.20x
|
5.65% - 5.95%
|
7-Year
|
30
|
7Y UST
|
60%
|
1.50x
|
5.58% - 5.88%
|
7-Year
|
30
|
7Y UST
|
80%
|
1.20x
|
5.73% - 6.03%
|
5-Year
|
30
|
5Y UST
|
60%
|
1.50x
|
5.75% - 6.05%
|
5-Year
|
30
|
5Y UST
|
80%
|
1.20x
|
5.95% - 6.25%
|
* At least 20% of units rent or income restricted at 50% AMI, 40% at 60% AMI or at least 20%
of units under a Project Based HAP contract (minimum 3 years of restrictions)
February 7, 2025, 9:14 AM
SPECIAL PUBLIC PURPOSE ("SPP")** - FIXED RATE
Term
|
Amort
|
Index
|
LTV
|
DSCR
|
All-In Rate
|
10-Year
|
30
|
10Y UST
|
55%
|
1.55x
|
5.25% - 5.65%
|
10-Year
|
30
|
10Y UST
|
80%
|
1.25x
|
5.65% - 6.05%
|
7-Year
|
30
|
7Y UST
|
55%
|
1.55x
|
6.23% - 5.63%
|
7-Year
|
30
|
7Y UST
|
80%
|
1.25x
|
5.73% - 6.13%
|
5-Year
|
30
|
5Y UST
|
55%
|
1.55x
|
5.20% - 5.60%
|
5-Year
|
30
|
5Y UST
|
80%
|
1.25x
|
5.95% - 6.35%
|
** At least 20% of units rent or income restricted at 80% AMI (minimum 3 years of restrictions).
1.20x DSCR available on a waiver basis.
February 7, 2025, 9:14 AM
PRESERVATION
Product
|
Term
|
Amort
|
Index
|
LTV
|
DSCR
|
All-In Rate
|
Fixed
|
5-Year
|
30
|
5Y UST
|
75%
|
1.25x
|
5.80% - 6.00%
|
Fixed
|
7-Year
|
30
|
7Y UST
|
80%
|
1.25x
|
5.88% - 6.08%
|
Fixed
|
10-Year
|
30
|
10Y UST
|
80%
|
1.25x
|
5.75% - 5.95%
|
Capped ARM
|
10-Year
|
30
|
30d Avg SOFR
|
80%
|
1.25x
|
6.60% - 6.80%
|
February 7, 2025, 9:14 AM
FORWARD COMMITMENT
Product
|
Term
|
Amort
|
Index
|
LTV
|
DSCR
|
All-In Rate
|
9% LIHTC
|
15-Year
|
35
|
10Y UST
|
90%
|
1.15x
|
6.60% - 6.75%
|
4% Tax-Exempt Loan (30-Month)
|
15-Year
|
35
|
10Y UST
|
90%
|
1.15x
|
6.15% - 6.30%
|
Non-LIHTC (30-Month)
|
15-Year
|
30
|
10Y UST
|
80%
|
1.25x
|
6.50% - 6.65%
|
February 7, 2025, 9:14 AM
Refinance/Acquisition | 223(f) (FHA)
Product
|
Term
|
Amort
|
LTV
|
DSCR
|
Rate Before MIP
|
Market Rate
|
35-Year
|
35
|
85%
|
1.176x
|
5.65%-6.15%
|
LIHTC Affordable*
|
35-Year
|
35
|
87%
|
1.15x
|
5.65%-6.15%
|
Project Based Affordable**
|
35-Year
|
35
|
90%
|
1.11x
|
5.65%-6.15%
|
^ Before MIP.
*At least 20% of units at 50% AMI or 40% at 60% AMI w/ >10% rent advantage and 15+ years remaining
**At least 90% of units under a Project Based HAP contract w/ 15+ years remaining
February 7, 2025, 9:14 AM
New Construction/Sub Rehab | 221(d)(4) (FHA)
Product
|
Term
|
Amort
|
LTV
|
DSCR
|
Rate Before MIP
|
Market Rate
|
40-Year
|
40
|
85%
|
1.176x
|
6.10%-6.60%
|
LIHTC Affordable*
|
40-Year
|
40
|
87%
|
1.15x
|
6.10%-6.60%
|
^ Before MIP.
*At least 20% of units at 50% AMI or 40% at 60% AMI w/ >10% rent advantage and 15+ years remaining
**At least 90% of units under a Project Based HAP contract w/ 15+ years remaining
February 7, 2025, 9:14 AM
Rates are general in nature and are for informational use only.
Rates are subject to change at any time and the information
provided is not a commitment to lend. For specific quotes
based on your property, contact a local Northmarq office.
Commercial Rates & Spreads
Life Co - COMMERCIAL
Term
|
Amortization
|
LTV
|
Spread (bps)
|
Rate
|
5-Year
|
25-30
|
50%-65%
|
150 - 210
|
5.85% - 6.45%
|
5-Year
|
25-30
|
60%-75%
|
160 - 220
|
5.95% - 6.55%
|
10-Year
|
25-30
|
50%-65%
|
150 - 190
|
6.00% - 6.40%
|
10-Year
|
25-30
|
60%-75%
|
160 - 220
|
6.10% - 6.70%
|
15-Year
|
Fully Amortizing
|
60%-75%
|
160 - 220
|
6.23% - 6.83%
|
* Rate buy downs available on deal by deal basis.
February 7, 2025, 9:14 AM
CMBS Spreads/Rates
Term
|
Amortization
|
LTV
|
Spread (bps)
|
Rate
|
5-Year
|
30
|
65-75%
|
250 - 300
|
6.85% - 7.35%
|
10-Year
|
30
|
65-75%
|
225 - 275
|
6.75% - 7.25%
|
5-Year
|
30
|
65-75%
|
250 - 300
|
6.85% - 7.35%
|
10-Year
|
30
|
65-75%
|
225 - 275
|
6.75% - 7.25%
|
* Rate buy downs available on deal by deal basis.
February 7, 2025, 9:14 AM
Rates are general in nature and are for informational use only.
Rates are subject to change at any time and the information
provided is not a commitment to lend. For specific quotes
based on your property, contact a local Northmarq office.