FREDDIE MAC OPTIGO®
Cash Loan for Affordable Housing Preservation
FAST, EFFICIENT FUNDING FOR AFFORDABLE HOUSING
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ELIGIBLE PROPERTY TYPES
Garden, mid-rise, or high-rise multifamily properties that meet affordability criteria and with 90% occupancy for 90 days.
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TERMS
Maximum term of 15 years.
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PRODUCT DESCRIPTION
Financing for the acquisition or refinance of stabilized affordable multifamily properties with fixed-rate or floating-rate cash loans; see the Fixed-Rate Loan or Floating-Rate Loan term sheet for more information.
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TYPE OF FUNDING
Permanent, immediate financing.
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MINIMUM DEBT COVERAGE RATIO (DCR)1
1.25x.
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MAXIMUM LOAN-TO-VALUE (LTV) RATIO1
80% of market value.
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CONSTRUCTION LOAN TERM
N/A.
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Maximum Amortization
Up to 35 years, depending on the market. Please contact your Relationship Manager to discuss.
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PREPAYMENT PROVISIONS
Yield maintenance or defeasance, depending on the product.
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SUBORDINATE FINANCING
Permitted per the Freddie Mac Multifamily Seller/Servicer Guide.
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TAX AND INSURANCE ESCROWS
Required per the Freddie Mac Multifamily Seller/Servicer Guide.
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FEES
Application fee, commitment fee, plus other fees as applicable.
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Securitization Available
Yes.
1Adjustments may be made depending on the property, product and/or market.
2Includes USDA section 515 loans.
