LSG Lending Advisors has long-term relationships with FHA/HUD and Agency approved lenders. The rates below are for informational use only. LSG Lending Advisors can provide term sheets reflecting the current interest rate with the appropriate documentation. As expert consultants in multifamily and healthcare financing, we provide up-to-date information and insights to guide you through the loan process.
*Rates updated as of 12/17/2024
Fannie Mae DUS Conventional – Fixed Rate
For interest-only options along with other DUS ARM Products, Small Loans (under $6 million), Seniors, Students, MHC, and Supplementals, please contact LSG Lending Advisors LLC. Spreads below assume a loan amount of over $6,000,000, 30-year amortization, Actual/360.
| TERM |
RATE |
| Tier 2 (1.25X/80%) |
| 5 Years |
6.16% - 6.46% |
| 7 Years |
5.89% - 6.19% |
| 10 Years |
5.78% - 6.08% |
| 12 Years |
5.87% - 6.07% |
| 15 Years |
5.96% - 6.16% |
| Tier 3 (1.35X/65%) |
| 5 Years |
5.61% - 5.91% |
| 7 Years |
5.58% - 5.88% |
| 10 Years |
5.69% - 5.99% |
| 12 Years |
5.67% - 5.97% |
| 15 Years |
5.79% - 6.09% |
| Tier 4 (1.55X/55%) |
| 5 Years |
5.55% - 5.85% |
| 7 Years |
5.45% - 5.75% |
| 10 Years |
5.39% - 5.69% |
| 12 Years |
5.47% - 5.67% |
| 15 Years |
5.59% - 5.79% |
Freddie Mac Conventional – Fixed Rate
Fannie Mae multifamily apartment projects that have any of the affordable components below may be eligible for reduced pricing: Eligible property types include those with HUD Section 8 HAP Contracts, expiring Low-Income Housing Tax Credit deals, existing tax-exempt bond refinancing, and properties part of the Rental Assistance Demonstration (RAD) program. Additionally, properties with Rural Housing Service (RHS) Section 515 loans, loans insured under Sections 202 or 236 of the National Housing Act, and those accepting tenant-based Section 8 rental subsidies are processed through the Fannie Mae Small Loan or DUS program rather than the Affordable Housing program.
| TERM |
RATE |
| (1.25X/65%) |
| 5 Years |
6.07% - 6.27% |
| 7 Years |
6.10% - 6.30% |
| 10 Years |
5.97% - 6.17% |
| 12 Years |
6.12% - 6.32% |
| 15 Years |
6.18% - 6.38% |
| (1.30X/60%) |
| 5 Years |
6.03% - 6.23% |
| 7 Years |
6.06% - 6.26% |
| 10 Years |
5.93% - 6.13% |
| 12 Years |
6.07% - 6.27% |
| 15 Years |
6.13% - 6.33% |
| (1.35X/55%) |
| 5 Years |
5.92% - 6.12% |
| 7 Years |
5.95% - 6.15% |
| 10 Years |
5.83% - 6.03% |
| 12 Years |
5.98% - 6.18% |
| 15 Years |
6.03% - 6.23% |
The Freddie Mac rates above are provided by LSG Lending Advisors LLC and are indicative rates only – subject to change at any time depending on the market conditions. Freddie Mac prices each loan individually based on unique criteria and does not publish pricing and has not pre-approved any of the rates listed above.
To qualify as low-income, a property must meet one of the following criteria: 20% or more of its units must be rented to families earning at or below 50% of Area Median Income (AMI), or 40% or more units must be rented to families earning at or below 60% of AMI. Additionally, the property must have recorded regulatory rent or income restrictions or a Project-Based Housing Assistance Payments (Section 8) contract covering 20% or more of the units.
FHA/HUD 221(d)(4) New Construction or
Substantial Rehabilitation for Multifamily Apartments
The FHA/HUD 221(d)(4) program offers long-term fixed-rate financing for new construction or the substantial rehabilitation of multifamily apartment project nationwide. Market rate and affordable multifamily properties are eligible. For a property to qualify as substantial rehabilitation, the cost of repairs, replacements and or improvements to the existing property must exceed $15,000 per unit adjusted by the applicable high cost factor for that area; or the renovation will replace 2 or more major building components.
| TERM |
AMORT |
LTC |
DSCR |
RATE |
| 40 |
40 |
85% |
1.176x |
6.05% to 6.25% |
FHA/HUD 232 New Construction or
Substantial Rehabilitation Loan Program for Healthcare Properties
This program provides non-recourse, assumable construction and permanent financing to build new or substantially rehabilitate assisted living, memory care and intermediate or skilled nursing facilities. Eligible facilities include licensed Nursing Homes, Assisted Living, Intermediate Care, and Board and Care facilities. They must provide continuous protective oversight and offer three meals per day. The facility must be state-licensed, with non-resident day care services not exceeding 20% of the gross area and 20% of the gross income. Additionally, up to 25% of the units may be non-licensed independent living units.
| TERM |
AMORT |
LTC |
DSCR |
RATE |
| 40 |
40 |
85% |
1.176x |
6.17% to 6.37% |
FHA/HUD 223(f) Purchase or Refinance of Existing
Multifamily Properties Insured Currently with HUD or Other Debt Sources
The FHA/HUD 223(f) program offers long-term fixed-rate financing for the refinance, acquisition, or moderate renovation of multifamily projects nationwide. Eligible properties include Market rate, affordable, or subsidized multifamily properties
| TERM |
AMORT |
LTC |
DSCR |
RATE |
| 35 |
35 |
85% |
1.176x |
5.65% to 5.85% |
FHA/HUD 223(a)(7) Streamline Refinance for
Multifamily and Healthcare properties with current FHA insured loans
The FHA/HUD 223(f) program offers long-term fixed-rate financing for the refinance, acquisition, or moderate renovation of multifamily projects nationwide. Eligible properties include Market rate, affordable, or subsidized multifamily properties
| TERM |
AMORT |
LTC |
DSCR |
RATE |
| 35 |
35 |
85% |
1.176x |
5.65% to 5.85% |
FHA/HUD 232/223(f) Refinance or
Purchase of Healthcare Properties
The HUD 232 / 223(f) program provides mortgage insurance for the refinancing or acquisition of nursing homes, assisted living facilities, intermediate care facilities, or board and care homes. Eligible properties must provide three meals per day and continuous care, with up to 25% of the units allowed to be non-licensed independent living units. The facility must be state-licensed, have at least 20 beds, and must have been completed or substantially rehabilitated for at least three years before the application date. Any additions made within the last three years must not exceed the size or bed count of the original project.
| TERM |
AMORT |
LTC |
DSCR |
RATE |
| 35 |
35 |
85% |
1.176x |
5.75% to 5.95% |
Mortgage Insurance Premium (MIP) (not included in rates above)
| FHA Loan |
223(f) |
223(a)(7) |
213(cooperative) |
221(d)(4) |
232/223(f) |
| Market Rate MIP |
0.60 |
0.50 |
0.70 |
0.65 |
0.65 |
| "Green" MIP |
0.25 |
0.25 |
N/A |
0.25 |
0.25 |
| Affordable MIP |
0.35 |
0.35 |
0.35 |
0.35 |
0.45 |
| Broadly Affordable MIP |
0.25 |
0.25 |
0.25 |
0.25 |
0.45 |
*Affordable MIP requires between 10% and 90% of units at LIHTC (or similar) restriction recorded for 15 years post-closing or Section 8
*Broadly Affordable MIP requires more than 50% of units at LIHTC (or similar) restriction recorded for 15 years post-closing or Section 8
*Interest rates and programs are subject to change without notice. This is not a commitment to lend. Apartment loan refinance and purchase availability -- including LTV, DSCR, and loan size -- may vary depending on property location, economic conditions, exposure, and other variables that may negatively influence risk. Loan programs and program guidelines (including, without limit, fees, rates and features) are subject to change. For specific rate quotes based on your property, please contact Andrew LaSalla at 888-235-3102 to discuss what items would be needed to provide a term sheet that itemizes costs and is reflective of the current interest rate.