Freddie Mac NOAH Preservation Multifamily Loans

Our Multifamily Loan Benefits

Multifamily Loan rates start as low as 5.88% (as of April 17th, 2024)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Financing up to 80% LTV
• Terms and amortizations up to 30 years
• Long term fixed rates
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

Freddie Mac Multifamily Loan

The Freddie Mac NOAH Preservation Multifamily Loan Program offers great financing solutions for non-profits looking to preserve American affordable housing. This loan program is designed to assist nonprofit organizations in acquiring Naturally Occurring Affordable Housing (NOAH) apartment buildings in order to maintain rents at affordable prices. The program provides qualifying nonprofits with critical underwriting flexibilities, fee reductions and rehab allowances in order to support their long-term preservation of naturally occurring affordable housing. Some key aspects of the Freddie Mac NOAH Preservation Multifamily Loan Program are that it allows up to 80% LTV, permits DSCRs as low as 1.20x, and has flexible loan terms and amortizations of up to 15 and 30 years respectively.

Freddie Mac NOAH Preservation Multifamily Loan Highlights

Size: Varies based on LTV and DSCR


Use: Provides eligible non-profits with financing in order to supports long-term preservation of naturally occurring affordable housing


Term: Up to 15 years


Amortization: Up to 30 years


LTV: Up to 80%


DSCR: At least 1.2x. May allow 1.2x with consent from Freddie Mac


Prepayment Penalty: Yield Maintenance or defeasance


Eligible Property Types: Garden, mid-rise, or high-rise multifamily NOAH properties


Eligible Borrowers: Must be 501(c)(3) nonprofit organizations that lists affordable housing preservation as a stated part of its mission. In addition, must have a history of successful property ownership


Minimum Equity Required: Nonprofit must satisfy at least one of these criteria:

  • Have an equity partner providing mission-focused equity
  • Contribute 100% of the equity themselves (leveraging soft debt as necessary)
  • Use the Freddie Mac Impact Gap Financing offering


Other Terms:

  • At time of loan origination at least half of the apartment units must have affordable rents at 60%, 80%, 100% or 120% area median income (AMI) based on the market.
  • Taxes and insurance escrows are required


Recent TRUSTPILOT Reviews

Select Commercial Funding Reviews from TRUSTPILOT

A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"