Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Freddie Mac Optigo Program
Freddie Mac Bridge to Resyndication Loan
The Freddie Mac Bridge to Resyndication Loan is one of the Freddie Mac multifamily (Optigo) programs Select Commercial arranges nationwide. Its highlights and terms are below, and you can compare it on our Freddie Mac multifamily page or view today’s commercial mortgage rates.
Get a Free QuoteAbout the Bridge to Resyndication Loan
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
Eligible Borrowers: Sponsor must have financial wherewithal and must have successfully completed multiple resyndications utilizing 4% LIHTC and tax-exempt loans
Program Highlights & Terms
- 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
- Other Terms: Get Free Fredie Mac Loan Quote 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
Terms are indicative and set by Freddie Mac underwriting for your specific property.
What Our Clients Say
“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“I found selectcommercial.com and saw they specialized in apartment building loans. In the end, they were by far the best company I have used. Next time I know who to call first.”
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No cost, no obligation. Written answers within 48 hours on multifamily loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up