SoftQuotes' Freddie Mac 5+ unit multifamily loan rates in Village Of Oak Creek, AZ are:
Small Balance Loan |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.63% - 5.87% |
| 7 Year Fixed | 5.24% - 5.48% |
| 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. Village Of Oak Creek, AZ is located in the Western region of the Freddie Mac SBL program and considered a very small market. Freddie Mac SBL loan amounts in Village Of Oak Creek 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 Village Of Oak Creek is 1.40x. The Freddie Mac SBL program offers full term interest-only payment options in Village Of Oak Creek, 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 Village Of Oak Creek, 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 Village Of Oak Creek, AZ, 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 Village Of Oak Creek 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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