Today's Fannie Mae Multifamily Loan Rates
Fannie Mae Multifamily Rates - Updated 3/26/25
| Fannie Mae Multifamily Rates Over $6,000,000 | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily 5 Year Fixed Loan Rates | 5.35% | Up to 80% | |
| Multifamily 7 Year Fixed Loan Rates | 5.36% | Up to 80% | |
| Multifamily 10 Year Fixed Loan Rates | 5.39% | Up to 80% | |
| Fannie Mae Multifamily Rates Under $6,000,000 | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily 5 Year Fixed Loan Rates | 5.70% | Up to 80% | |
| Multifamily 7 Year Fixed Loan Rates | 5.72% | Up to 80% | |
| Multifamily 10 Year Fixed Loan Rates | 5.75% | Up to 80% | |
2025 Fannie Mae Multifamily Loan Outlook
As of 2025, Fannie Mae remains a key player in the multifamily housing finance sector, backing approximately 40% of the $2.2 trillion in multifamily mortgage debt. This continued support helps sustain affordable housing and rental market stability across the U.S.
For those interested in historical loan data, Fannie Mae provides the Multifamily Loan Performance Data (MFLPD), covering over 68,000 loans acquired since 2000. This dataset helps lenders, investors, and policymakers assess market trends and loan performance.
As the multifamily housing landscape continues to evolve, Fannie Mae's updated policies will play a crucial role in shaping the future of multifamily financing.
Fannie Mae Multifamily Loan Benefits
Fannie Mae Multifamily Loan rates start as low as 5.35% (as of March 26th, 2025)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation
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Fannie Mae Multifamily Loans: A Leading Apartment Financing Solution
What Are Fannie Mae Multifamily Loans?
Fannie Mae is one of the nation’s leading sources of multifamily financing, providing mortgage capital for apartment buildings, affordable housing, senior housing, student housing, cooperatives, manufactured housing communities, and mobile home parks nationwide.
Its multifamily loan programs offer long-term fixed rates up to 30 years, high loan-to-value (LTV) ratios up to 80%, and non-recourse financing, meaning no personal guarantee is required. These benefits make Fannie Mae a preferred financing solution for investors seeking stability and flexibility in apartment property loans.
Key Benefits of Fannie Mae Multifamily Loans
- Loan terms between 5 and 30 years
- Amortization schedules up to 30 years
- Flexible prepayment options
- Interest-only payment options
- Loan amounts from $1,500,00 to $100+ million
- Loans are assumable and allow for secondary financing
Eligibility Criteria for Fannie Mae Multifamily Loans
Fannie Mae multifamily loans are available for apartment buildings with at least five residential units and no more than 20% of net rentable space leased to commercial tenants.
Eligible properties must meet these requirements:
- Minimum of five residential units for standard multifamily properties
- Manufactured housing communities must have at least 50 pad sites
- Located in primary or secondary MSAs (some exceptions for tertiary markets)
- Stabilized properties with at least 90% occupancy for 90 days
Borrower qualifications include:
- Minimum credit score of 680 with no recent delinquencies
- Net worth equal to the loan amount
- Liquidity covering 9 to 12 months of debt service
Why Choose Fannie Mae Multifamily Financing?
Fannie Mae multifamily loans offer some of the most competitive apartment financing options, with low interest rates, high leverage, and flexible loan terms. These loans are ideal for investors looking to purchase or refinance stabilized apartment properties with favorable underwriting guidelines and non-recourse financing.
Get Expert Guidance on Your Fannie Mae Multifamily Loan
Looking for multifamily financing? Fannie Mae may be the right solution for your needs. Select Commercial Funding specializes in helping investors secure the best Fannie Mae multifamily loans.
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Fannie Mae Multifamily Loan Programs
Fannie Mae provides a comprehensive suite of multifamily loan programs designed to support property investors, developers, and affordable housing initiatives. As a key player in the secondary mortgage market, Fannie Mae offers financing for conventional apartments, affordable housing, senior living, student housing, and manufactured housing communities. With competitive rates, long-term fixed options, and nonrecourse financing, Fannie Mae’s multifamily loan programs help ensure stability and liquidity in the housing sector. Below are the primary Fannie Mae multifamily loan programs available:
Fannie Mae Multifamily Large Balance loan
The Fannie Mae Large Balance Multifamily Loan program is a premier financing option for apartment buildings nationwide. As one of the nation’s leading secondary market sources of capital, Fannie Mae provides mortgage capital for conventional apartments, affordable housing, cooperatives, senior housing, student housing, manufactured housing communities, and mobile home parks.
With this program, borrowers benefit from long-term fixed rates up to 30 years, high loan-to-value (LTV) ratios up to 80%, and nonrecourse financing—eliminating the need for a personal guarantee from the principals.
Learn MoreFannie Mae Multifamily Small Balance Loan
The Fannie Mae Multifamily Small Balance Loan program provides financing solutions for smaller apartment properties. Designed for loans up to $6 million, this program offers flexible terms, competitive interest rates, and a streamlined approval process to meet the needs of small-scale multifamily investors.
With this loan, borrowers can access long-term fixed-rate options, high loan-to-value (LTV) ratios up to 80%, and nonrecourse financing, making it an attractive choice for smaller rental property owners.
Learn MoreFannie Mae Multifamily Choice Refinance Loan
The Fannie Mae Multifamily Choice Refinance Loan program offers a streamlined refinancing solution for existing Fannie Mae borrowers. This program allows borrowers to take advantage of lower interest rates and better terms with minimal documentation requirements.
Borrowers benefit from competitive fixed and floating rates, loan amounts with high LTVs up to 80%, and a simplified approval process designed for efficient refinancing of stabilized multifamily properties.
Learn MoreFannie Mae Multifamily Conventional Loan Program
The Fannie Mae Multifamily Conventional Loan Program is the standard financing solution for stabilized apartment properties across the nation. This program provides fixed and variable-rate loans for various property types, including affordable housing, senior housing, and student housing.
Offering loan terms up to 30 years, competitive interest rates, and high LTVs up to 80%, this program provides a reliable and flexible financing solution for multifamily property investors.
Learn MoreFannie Mae Multifamily ARM 7-6 Loan
The Fannie Mae Multifamily ARM 7-6 Loan program provides adjustable-rate financing for multifamily properties. This loan offers an initial seven-year fixed rate that transitions to a floating rate, allowing borrowers to take advantage of market conditions while maintaining long-term financing flexibility.
With high loan-to-value (LTV) ratios up to 80%, interest-only options, and nonrecourse financing, this program is ideal for borrowers seeking a combination of stability and flexibility in their multifamily investments.
Learn MoreFannie Mae Multifamily Cooperative Property Loan
The Fannie Mae Multifamily Cooperative Property Loan program provides financing for cooperative housing communities, allowing co-op associations to secure long-term, stable financing. This program supports the acquisition, refinancing, and renovation of co-op properties nationwide.
With flexible loan terms, competitive interest rates, and nonrecourse options, this program is an ideal solution for cooperative housing associations looking to improve or maintain their properties.
Learn MoreFannie Mae Multifamily Affordable Housing Preservation Loan
The Fannie Mae Multifamily Affordable Housing Preservation Loan program is designed to finance the acquisition, rehabilitation, or refinancing of affordable housing properties that serve low-income residents.
This program offers high loan-to-value (LTV) ratios, long-term fixed-rate financing, and favorable terms for properties with existing rent restrictions or affordability commitments.
Learn MoreFannie Mae Multifamily Fixed-Rate Mortgage Loan
The Fannie Mae Multifamily Fixed-Rate Mortgage Loan program offers stable, long-term financing for multifamily properties. This program provides fixed interest rates for up to 30 years, making it an attractive option for investors seeking predictable mortgage payments.
With high LTV ratios, nonrecourse financing, and competitive interest rates, this program supports the financing needs of market-rate, affordable, and mixed-use multifamily properties.
Learn MoreFannie Mae Multifamily Hybrid ARM Loan
The Fannie Mae Multifamily Hybrid ARM Loan program combines the benefits of both fixed and adjustable-rate financing. It starts with a fixed-rate period before transitioning into an adjustable rate, allowing borrowers to take advantage of lower initial interest rates.
This program is ideal for multifamily investors looking for interest rate flexibility while maintaining long-term financing stability.
Learn MoreFannie Mae Multifamily Moderate Rehabilitation (Mod Rehab) Supplemental Loan
The Fannie Mae Multifamily Moderate Rehabilitation Supplemental Loan program provides additional funding for properties undergoing moderate renovations. This loan allows existing Fannie Mae borrowers to access capital for property improvements without refinancing their original loan.
With flexible terms, high loan-to-value (LTV) ratios, and nonrecourse options, this program helps property owners increase rental income and property value through strategic renovations.
Learn MoreFannie Mae Multifamily Affordable Mod Rehab Supplemental Loan
The Fannie Mae Multifamily Affordable Mod Rehab Supplemental Loan program provides additional funding for properties undergoing moderate rehabilitation while maintaining affordability requirements. This loan is designed for existing Fannie Mae borrowers who need financing for capital improvements without refinancing their primary loan.
With high loan-to-value (LTV) ratios, flexible terms, and nonrecourse financing, this program helps preserve affordable housing while allowing for necessary property upgrades.
Learn MoreFannie Mae Multifamily Reduced Occupancy Affordable Rehab (ROAR) Loan
The Fannie Mae Multifamily Reduced Occupancy Affordable Rehab (ROAR) Loan program is designed for affordable housing properties undergoing significant rehabilitation that temporarily reduces occupancy levels.
This loan provides flexible terms, high LTV allowances, and interest-only periods to support properties maintaining long-term affordability commitments while completing major renovations.
Learn MoreFannie Mae Multifamily Structured Adjustable Rate Mortgage (SARM) Loan
The Fannie Mae Multifamily Structured Adjustable Rate Mortgage (SARM) Loan program offers borrowers adjustable-rate financing with built-in rate protection. This loan structure provides lower initial interest rates and the ability to convert to a fixed-rate loan after a set period.
With nonrecourse options, competitive LTV ratios, and interest-only periods, the SARM loan is ideal for investors looking for flexibility in fluctuating market conditions.
Learn MoreFannie Mae Multifamily Manufactured Housing Community Loan
The Fannie Mae Multifamily Manufactured Housing Community Loan program provides financing for manufactured housing communities (MHCs), supporting affordable and long-term housing solutions for tenants.
This program offers competitive fixed and adjustable rates, high LTVs, and nonrecourse financing, making it an excellent choice for investors in the manufactured housing sector.
Learn MoreFannie Mae Multifamily Seniors Housing Loan
The Fannie Mae Multifamily Seniors Housing Loan program provides financing for independent living, assisted living, and memory care facilities. This program supports the growing demand for senior housing while offering long-term stability for investors.
With high loan-to-value (LTV) ratios, flexible terms, and nonrecourse financing, this loan is an excellent choice for operators and investors in the senior housing sector.
Learn MoreFannie Mae Multifamily Student Housing Loan
The Fannie Mae Multifamily Student Housing Loan program offers financing for properties catering to student populations near colleges and universities. This program supports both purpose-built student housing and conventional multifamily properties with high student occupancy.
With competitive interest rates, flexible LTV ratios, and both fixed and adjustable-rate options, this loan provides a strong financing solution for student housing investors.
Learn MoreFannie Mae Multifamily ARM 5-5 Loan
The Fannie Mae Multifamily ARM 5-5 Loan program is an adjustable-rate mortgage designed for multifamily investors seeking flexibility. This loan features an initial five-year fixed-rate period followed by rate adjustments every five years.
With nonrecourse options, competitive LTV ratios, and potential for lower initial interest rates, this loan is ideal for investors looking to balance stability with market-driven rate adjustments.
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