SoftQuotes' Freddie Mac 5+ unit multifamily loan rates in Kerrville, TX are:
Small Balance Loan |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
Conventional Loan |
$5M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
The Freddie Mac Small Balance Loan (SBL) program is designed for 5-50 unit apartment buildings and offers 5, 7 & 10 year fixed rate and hybrid ARM loan options. Kerrville, TX is located in the South Central region of the Freddie Mac SBL program and considered a very small market. Freddie Mac SBL loan amounts in Kerrville are $1 million to $6 million, with a maximum loan-to-value of 75% for purchase loans and 70% for refinance loans. The minimum debt service coverage ratio (DSCR) for loans in Kerrville is 1.40x. The Freddie Mac SBL program offers full term interest-only payment options in Kerrville, on loans up to 60% Loan-To-Value (LTV) for a 0.10% add to the rate. Partial-term interest-only payment options (1 year on a 7-year term and 2 years on a 10-year term) are also available in Kerrville, for an add to rate. For more on the Freddie Mac SBL program, see our guide on Freddie Mac Small Balance Loan (SBL).
The Freddie Mac Conventional loan program is designed for multifamily properties with loans from $5 million and up. In Kerrville, TX, this program will generally go to 75% loan-to-value (LTV) for a purchase and 70% loan-to-value (LTV) for a refinance. Most conventional loans in Kerrville will be required to meet a 1.30% debt service coverage ratio (DSCR). This program has a defeasance prepayment penalty. Unlike the SBL program, Freddie Mac Conventional loans are much more flexible in respect to multifamily property types, loan terms and transaction types. This program offer a variety of floating and fixed rate terms with potentially more interest only payment options.
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