SoftQuotes' Freddie Mac 5+ unit multifamily loan rates in Mill Valley, CA are:
Small Balance Loan |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Conventional Loan |
$5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
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. Mill Valley, CA is located in the Western region of the Freddie Mac SBL program and considered a top market. Freddie Mac SBL loan amounts in Mill Valley are $1 million to $7.5 million, with a maximum loan-to-value of 80% for purchase and refinance loans. The minimum debt service coverage ratio (DSCR) in Mill Valley is 1.20x for loan amounts up to $6 million and 1.25x for loan amounts between $6 million and $7.5 million. The Freddie Mac SBL program offers full term interest-only payment options in Mill Valley on loans up to 65% loan-to-value (LTV) for a 0.15% add to the rate. Partial-term interest-only payment options are also available in Mill Valley, 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 Mill Valley, CA, this program will generally go to 80% loan-to-value (LTV) for a purchase and 75% loan-to-value (LTV) for a refinance. Most conventional loans in Mill Valley will be required to meet a 1.25% 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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