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Southern California Multifamily Real Estate Advisor - MikeLembeck.com

CURRENT INDEX RATES
5-Year Treasury 0.85%
7-Year Treasury 1.34%
30-Day Avg. SOFR 1.69%
5-Year Treasury 0.01%
10-Year Swap 1.66%
Multifamily
FREDDIE MAC—CONVENTIONAL
TERM LTV DSCR SPREAD RATE*
15-Year 65% 1.35x 155-190 3.25%-3.60%
12-Year 65% 1.35x 150-185 3.20%-3.55%
10-Year 55% 1.55x 130-155 3.00%-3.25%
10-Year 65% 1.35x 140-175 3.10%-3.45%
10-Year 80% 1.25x 160-195 3.30%-3.65%
7-Year 55% 1.55x 135-170 2.70%-3.05%
7-Year 65% 1.35x 155-190 2.90%-3.25%
7-Year 80% 1.25x 175-210 3.10%-3.45%
7-Year ARM 80% 1.25x 250-285 2.50%-2.85%
FANNIE MAE—CONVENTIONAL
TERM LTV DSCR SPREAD RATE*
15-Year 65% 1.35x 190-230 3.60%-4.00%
12-Year 65% 1.35x 170-210 3.40%-3.80%
10-Year 55% 1.55x 130-170 3.00%-3.40%
10-Year 65% 1.35x 150-190 3.20%-3.60%
10-Year 80% 1.25x 170-210 3.40%-3.80%
7-Year 55% 1.55x 145-185 2.80%-3.20%
7-Year 65% 1.35x 165-205 3.00%-3.40%
7-Year 80% 1.25x 180-220 3.15%-3.55%
7-Year ARM 75% 1.00x 275-295 2.75%-2.95%
LIFE COMPANIES
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 25-30 65%-75% 200-260 2.85%-3.45%
10-Year 25-30 50%-65% 130-180 3.00%-3.50%
10-Year 25-30 65%-75% 180-235 3.50%-4.05%
15-Year 15-25 65%-75% 205-255 3.80%-4.30%
Longer Fully Amortizing 65%-75% 180-220 3.65%-4.05%
FHA—221( d ) CONSTRUCTION/PERMANENT
TERM AMORTIZATION LTV DSCR RATE*
40 40 85% 1.176x 3.30%
FHA—223( f ) REFINANCING
TERM AMORTIZATION LTV DSCR RATE*
35 35 85% 1.176x 2.70%
C M B S
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 30 65%-75% 325-360 4.10%-4.45%
10-Year 30 65%-75% 210-250 3.80%-4.20%
Commercial
LIFE COMPANIES 
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 25-30 65%-75% 210-265 2.95%-3.50%
10-Year 25-30 50%-65% 140-200 3.10%-3.70%
10-Year 25-30 65%-75% 200-265 3.70%-4.35%
15-Year 15-25 65%-75% 240-285 4.15%-4.60%
Longer Fully Amortizing 65%-75% 200-250 3.85%-4.35%
C M B S
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 30 65%-75% 330-370 4.15%-4.55%
10-Year 30 65%-75% 215-255 3.85%-4.25%

1. Minimum index floor of 0.50% for all fixed rate terms.

2. 15-year floor and 10-year index floor is 0.90%; 7-year index floor is 0.80%.  

3. Before MIP of 0.25% to 0.60%     

4. Before MIP of 0.25% to 0.65%    

5. Most life company lenders have floors of 2.75% and above.    

6. Most life company lenders have floors of 2.65% and above.    


Southern California Multifamily Real Estate Advisor - MikeLembeck.com