Fannie Mae & Freddie Mac
Agency Loans
Long-term, fixed-rate, non-recourse debt for apartment buildings. Fannie Mae and Freddie Mac executions run head-to-head against banks, credit unions, and life companies, so the best structure wins on your deal, not on a lender's pitch.
At a glance
Indicative program terms.
| Loan size | $1,000,000 – $100,000,000+ (small-balance programs and large loans) |
|---|---|
| Leverage | Up to 80% LTV (market and program dependent) |
| Rate | Fixed or floating; priced over Treasuries / SOFR |
| Term / amortization | 5–30 year terms; up to 30-year amortization; interest-only available |
| Recourse | Non-recourse with standard carve-outs |
| DSCR | Typically 1.25x minimum |
| Features | Assumable; supplemental loans; rate lock at application available on some programs |
| Eligible assets | Stabilized apartments (5+ units), including workforce and affordable housing |
Parameters are indicative of agency programs generally and vary by program, market tier, and sponsor. Every quote is deal-specific.
Why agency debt, and why through us
Fannie Mae and Freddie Mac remain the deepest, most reliable source of apartment debt in the country: long fixed terms, high leverage, non-recourse, and pricing that banks struggle to match on stabilized assets. But "agency" is not one product. It's dozens of programs across small-balance, conventional, green, and affordable executions, each with its own leverage, pricing grid, and quirks.
Our desk sizes your deal across the agency programs it actually fits, then runs those terms against bank, credit union, and life company alternatives. Sometimes agency wins. Sometimes a credit union with no prepayment penalty or a life company at lower leverage and tighter spread is the smarter trade. You see the comparison; you make the call.
The small-balance edge
Deals from $1–10 million are where big brokerages under-deliver: junior teams, template processes, take-it-or-leave-it terms. It's also where we built our practice. Small-balance agency programs, regional banks, and credit unions compete hard in this band, and running that competition properly is routinely worth real basis points and structure.
What we need to quote you
A rent roll, trailing-12 operating statement, and the basics of your ask (loan amount, purpose, timing). That's enough for initial sizing across executions, typically back to you within days.
Questions
Common questions.
What loan sizes qualify for agency multifamily debt?
Is agency multifamily debt really non-recourse?
Fixed or floating: which should I take?
Run your deal through the desk.
Free underwriting, real options, one business day to a senior advisor.
Prefer to talk? (561) 559-4111