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Freddie Mac FRED Program
Freddie Mac’s FRED: Fast, Reliable, Easy Decisions for loans up to $15 million.Start Your Application and Unlock the Power of Choice$5.6M offered by a Bank at 6.1%$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1.4M offered by a Credit Union at 6.1%Click Here to Get Quotes!
Freddie Mac FRED Execution for Loans $15 Million and Under
If you're an investor or developer looking to finance a multifamily property with a Freddie Mac Conventional Loan or a Freddie Mac Targeted Affordable Housing (TAH) Loan under $15 million, Freddie Mac's FRED loan execution is likely to save you significant time and money. As of Oct. 2018, all qualifying Freddie Mac loans use the new, streamlined FRED process.
FRED, which stands for fast, reliable, easy decisions, provides a variety of benefits to borrowers and lenders, including:
Reduced SPE requirements
Reduced amount of SPE covenants in the Loan Agreement
Single member limited liability companies (LLCs) no longer need to be formed in Delaware
Separate opinions are no longer needed for required for single member Delaware LLCs
Zoning reports no longer needed
Existing property surveys can be used with the delivery of a clean survey certificate, as long as the title policy has a “same as survey” endorsement (where available) and no exceptions for any changes that could be shown on an updated survey
Engineering and environmental reports can now be combined into one Physical Risk Report
Termite reports no longer needed, as long as a termite contract is in place during the entire loan term