apartment and multifamily mortgage loan rates

Multifamily Mortgages - Nationwide Lending Terms


View today's apartment loan rates for our various apartment loan programs. Our company strives to offer the lowest apartment loan rates in the marketplace. Please note that multifamily loan rates can vary depending on various financial and transactional factors. Please, do not hesitate contacting us with any questions you might have. You can view our Commercial Loan Rates here.

* Apartment loan rates are updated daily.


Table of Contents

Fannie Mae Apartment Loans

The average rate for a Fannie Mae loan is 4.610% - 5.390%

Fannie Mae Rates
Fixed Term
Max LTV
Fixed Term
Rate
Max Amort.
55% LTV
5 yrs
4.660%
30 yrs
7 yrs
4.610%
30 yrs
10 yrs
4.650%
30 yrs
12 yrs
4.710%
30 yrs
15 yrs
4.740%
30 yrs
30 yrs
4.910%
30 yrs
65% LTV
5 yrs
4.910%
30 yrs
7 yrs
4.860%
30 yrs
10 yrs
4.870%
30 yrs
12 yrs
4.960%
30 yrs
15 yrs
4.990%
30 yrs
30yrs
5.160%
30 yrs
80% LTV
5 yrs
5.140%
30 yrs
7 yrs
5.090%
30 yrs
10 yrs
5.120%
30 yrs
12 yrs
5.190%
30 yrs
15 yrs
5.220%
30 yrs
30 yrs
5.390%
30 yrs
Adjustable Rate
Max LTVTermRateMax Amort
55%7 yrs4.360%30
65%7 yrs4.580%30
80%7 yrs4.780%30
  • Rates assume loan size above $2,000,000.
  • Properties over 50 units ADD: 0.33% on 80%LTV, 0.36% on 65%LTV, and 0.39% on 55% LTV.
  • Add 0.05% to matrix pricing above for Small Loans from $750,000 to $1,999,999.
  • $10+ million mortgages may qualify for a pricing waiver up to 25 bps.
  • Stepdown Prepayment Loans are available and can be quoted upon request.
  • 65%LTV and 55%LTV loans qualify for interest only terms with length depending on market and loan term.
  • Freddie Mac Apartment Loans

    The average rate for a Freddie Mac loan is 4.290% - 4.690%

    Freddie Mac Rates
    Fixed Rate
    Max LTV
    Term
    Rate
    Max. Amort.
    80% LTV
    5 yrs
    4.290%
    30 yrs
    80% LTV
    7 yrs
    4.500%
    30 yrs
    80% LTV
    10 yrs
    4.690%
    30 yrs
    • Rates shown are for top markets. Standard markets add (0.42% for 5 yr term), (0.15% for 7 yr term), and (0.05% for 10 yr term)
    • Loans from $1 million - $7.5 million (larger amounts could be considered)
    • Up to 80% LTV on refinances and purchases
    • Non-recourse
    • Interest Only (IO) payments available 1yr IO for 5 year fixed term, 2 years IO for 7 year, and 3 years IO for 10 year
    • Full term Interest Only available at 1.35x DSCR and < 65% LTV
    • Normal prepayment penalty structure: 5 year fixed product 5%4%3%2%1, 7 year 5%5%4%4%3%2%1%, 10 year 5%5%4%4%3%3%2%2%1%1%
    • Prepay alternatives as follows for a bump on interest rate: 5 year term 3%2%1%1%1%, 7 year term 3%3%2%2%1%1%1%, 10 year term 3%3%3%2%2%2%1%1%1%1%
    • Loan is assumable

    FHA Apartment Loans

    The average rate for an FHA loan is 3.800% - 4.600%

    FHA Rates
    Program
    Fixed Term
    Rate
    Max. Amort.

    Purchase
    (83% LTV)

    Refinance 80% LTV

    30-40 years
    3.800% - 4.600%
    30-40 yrs

    Conventional Apartment Loans

    The average rate for a conventional loan is 5.034% - 5.057%

    (Investor Property) $1Million to $10Million
    Max LTV
    Fixed Term
    Rates
    Max. Amort.
    80% LTV
    Purchase & Refinance
    3-year
    5.057%
    30
    5-year
    4.786%
    30
    7-year
    4.828%
    30
    10-year
    4.909%
    30
    15-year
    5.034%
    15

    Bridge Apartment Loans

    The average rate for a bridge loan is 5.485% - 6.985%

    Bridge Rates
    Program
    Fixed Term
    Rate
    Max. Amort.
    65% LTV; going-in DSC of 1.10x, stabilized DSC of 1.50x
    6-18 Months
    5.485%
    Interest-Only
    75% LTV; going-in DSC of 1.00x, stabilized DSC of 1.30x
    6-18 Months
    6.985%
    Interest-Only
    Floor Rate
    Floating over 30-day LIBOR with a 2% LIBOR floor

    USDA Apartment Loans

    The average rate for a USDA loan is 5.500% - 6.500%

    USDA Rates
    Program
    Rate Term
    Rate
    Max. Amort.
    Purchase
    (85% LTV)
    Quarterly
    5.500% - 6.500%
    20-25 yrs
    5yr-10yr fixed rates available case-by-case

    Insurance Apartment Loans

    The average rate for an insurance loan is 4.620% - 4.790%

    Insurance Rates
    Max. LTV
    Term
    Max. Amort.
    Rate
    65-70 LTV
    5 Year
    25-30
    4.620%
    65-70 LTV
    7 Year
    25-30
    4.500%
    65-70 LTV
    10 Year
    25-30
    4.450%
    65-70 LTV
    20 Year
    25-30
    4.790%

    Construction Apartment Loans

    The average rate for an construction loan is 3.600% - 7.500%

    Construction Rates
    Program
    Fixed Term
    Rate
    Max. Amort.
    Conventional - 75-80% LTV
    1,2,3 Year
    7.500%
    Interest-Only
    FHA - Up to 83.3% LTV or 87-90% (Affordable Housing)
    30-40 Years
    3.600%-4.450%
    30-40 Years
    Insurance Company Construction with Take Out
    Call
    Call
    30 Years

    CMBS Apartment Loans

    Call for a quote

    Conduit Commercial Interest Rates
    Program
    Fixed Term
    Rates
    Max. Amort.
    75-80% LTV 5 years Call for Quote 30 yrs
    75-80% LTV 10 years Call for Quote 30 yrs
    75-80% LTV
    15 years
    Call for Quote
    30 yrs
    Additional loan terms are available

    KEY MARKET INTERESTS
    Index
    Rates
    Prime
    5.500%
    30 Day Libor
    2.485%
    90 Day Libor
    2.643%
    6 Month Libor
    2.755%
    1 Year Libor
    2.907%
    3 Year Swap
    2.557%
    5 Year Swap
    2.536%
    7 Year Swap
    2.578%
    10 Year Swap
    2.659%
    5 Year Treasury
    2.470%
    7 Year Treasury
    2.550%
    10 Year Treasury
    2.650%
    10 Year SBA 504
    4.650%
    20 Year SBA 504
    4.640%
    25 Year SBA
    4.770%
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    Note: The apartment loan rates displayed in this website should be used as a guideline and do not represent a commitment to lend. Commercial Loan Direct and CLD Financial, LLC are not liable for any commercial loan interest rate or data entry errors that might affect the displayed commercial loan rates. Commercial loan rates may change at any time and without notice.

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