Freddie Mac Bridge to Resyndication Multifamily Loans

Our Multifamily Loan Benefits

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Multifamily Loan rates start as low as 5.95% (as of April 25th, 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

Are you looking for a bridge loan to acquire or refinance a Low Income Housing Tax Credit (LIHTC) apartment building? The Freddie Mac Bridge to Resyndication Loan provides an incredible solution offering borrowers efficient, short-term and cost effective bridge financing. By utilizing 4 percent LIHTC’s and long term Freddie Mac financing, this program is a much-needed bridge that helps to position properties for further recapitalization. Bridge to Resyndication loans are offered with term lengths of 24-months, allow for LTVs of up to 85%, require DSCRs as low as 1.15x, and are interest-only.


Freddie Mac Bridge to Resyndication Multifamily Loan Highlights

Size: Dependent on LTV and DSCR

 

Use: Loan is intended for the preservation of affordable housing. Offers short term bridge loans to help borrowers purchase or refinance LIHTC apartment buildings

 

Term: 24-month loan. Potential one 6-month extension with Freddie Mac approval

 

Interest Rate: Floating rate and interest only. Based on 1 month LIBOR

 

LTV: Up to 85%

 

DSCR: Minimum of 1.15x

 

Eligible Borrowers: Sponsor must have financial wherewithal and must have successfully completed multiple resyndications utilizing 4% LIHTC and tax-exempt loans

Eligible Properties:

  • Must be an LIHTC apartment building at or close to the end of LIHTC rent compliance period
  • Sound construction which is allowed to need moderate repair
  • Sponsor must have proof that a public agency with license to issue Volume Cap Mortgage Revenue Bonds has enough tax-exempt bond (or loan) availability to meet the allocation needs of the anticipated LIHTC resyndication and has a highly predictable process for that allocation

 

Other Terms:

  • Breakage fee of 2%
  • Exit fee of 2%. Waived if refinanced with a Freddie Mac securitized loan
  • Extension based on Freddie Mac approval. Will be dependent on current progress toward LIHTC resyndication. Additionally, 0.5% fee is required
  • Minimum occupancy will be determined at funding using the comparable fixed rate to achieve a 1.0x DSCR

 



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