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Southern California Multifamily Real Estate Advisor - MikeLembeck.com

CURRENT INDEX RATES
5-Year Treasury 0.80%
7-Year Treasury 1.10%
30-Day Avg. SOFR 1.32%
5-Year Treasury 0.05%
10-Year Swap 1.35%
Multifamily
FREDDIE MAC—CONVENTIONAL
TERM LTV DSCR SPREAD RATE*
15-Year 65% 1.35x 175-215 3.05%-3.45%
12-Year 65% 1.35x 175-215 3.05%-3.45%
10-Year 55% 1.55x 150-190 2.80%-3.20%
10-Year 65% 1.35x 165-205 2.95%-3.35%
10-Year 80% 1.25x 185-225 3.15%-3.55%
7-Year 55% 1.55x 160-200 2.70%-3.10%
7-Year 65% 1.35x 175-215 2.85%-3.25%
7-Year 80% 1.25x 195-235 3.05%-3.45%
10-Year ARM 80% 1.25x 285-310 2.90%-3.15%
FANNIE MAE—CONVENTIONAL
TERM LTV DSCR SPREAD RATE*
15-Year 65% 1.35x 190-230 3.25%-3.65%
12-Year 65% 1.35x 170-210 3.05%-3.45%
10-Year 55% 1.55x 130-170 2.60%-3.00%
10-Year 65% 1.35x 150-190 2.80%-3.20%
10-Year 80% 1.25x 175-215 3.05%-3.45%
7-Year 55% 1.55x 140-180 2.50%-2.90%
7-Year 65% 1.35x 160-200 2.70%-3.10%
7-Year 80% 1.25x 185-225 2.95%-3.35%
10-Year ARM 75% 1.00x 270-290 2.75%-2.95%
LIFE COMPANIES
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 25-30 65%-75% 200-260 2.80%-3.40%
10-Year 25-30 50%-65% 125-165 2.55%-2.95%
10-Year 25-30 65%-75% 165-215 2.95%-3.45%
15-Year 25-30 65%-75% 165-215 3.05%-3.55%
15-20 Year Fully Amortizing 65%-75% 175-215 3.05%-3.45%
FHA—221( d ) CONSTRUCTION/PERMANENT
TERM AMORTIZATION LTV DSCR RATE*
40 40 85% 1.176x 3.00%
FHA—223( f ) REFINANCING
TERM AMORTIZATION LTV DSCR RATE*
35 35 85% 1.176x 2.35%
C M B S
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 30 65%-75% 325-360 4.05%-4.40%
10-Year 30 65%-75% 210-250 3.40%-3.80%
Commercial
LIFE COMPANIES 
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 25-30 65%-75% 210-265 2.90%-3.45%
10-Year 25-30 50%-65% 130-180 2.60%-3.10%
10-Year 25-30 65%-75% 180-225 3.10%-3.55%
15-Year 25-30 65%-75% 180-225 3.20%-3.65%
15-20 Year Fully Amortizing 65%-75% 180-240 3.10%-3.70%
C M B S
TERM AMORTIZATION LTV SPREAD RATE*
5-Year 30 65%-75% 330-370 4.10%-4.50%
10-Year 30 65%-75% 215-255 3.45%-3.85%

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

2. 15-year floor and 10-year index floor is 1.00%; 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