Tap to get financing
Nasdaq: JNVRMultifamily Loans
Property Types
MultifamilyHealth Care & Senior LivingStudent HousingAffordable HousingMobile Home ParkOffice, Retail & More
Loan Options
Fannie MaeFreddie MacConstruction LoansLoans Under $1MFreddie Mac SBLFHA/HUD Multifamily LoansForeign National LoansCMBSBank LoansLife CompaniesBridge LoansHard MoneySoft MoneyMezzanine FinancingCrowdfundingSBA 504 LoansMezzanine Construction LoansUSDA 538 LoansFix and Flip LoansFractured Condo LoansDSCR LoansRefinance
Resources
BlogLoan DocsForms and TemplatesRatesLingoVideo LibraryMultifamily For SaleCommercial MortgagesFrequently Asked QuestionsBeginner's Guide
Calculators
Multifamily Mortgage CalculatorCap Rate CalculatorNOI CalculatorDSCR CalculatorLTV CalculatorDebt Yield CalculatorCash on Cash Return CalculatorYield Maintenance CalculatorIRR Calculator
About
About UsLeadershipTeamContactAffiliate Program (Coming Soon)We're Hiring
(561) 556-5777 Get financing →
Interest Rates

Today’s rates for a wide variety of multifamily loans
Check Today's Rates →

!Learn why you should refinance your multifamily property now →
Newly Published
Sep 22 at Multifamily Loans
Active vs. Passive Multifamily Investing: Which Is Best for Me?
Sep 19 at Multifamily Loans
Multifamily Minute Reader Reflections: How Much Have Your Insurance Costs Increased?
Sep 12 at Multifamily Loans
The Chicago Multifamily Market: Looking to Late 2023
Explore the Janover Network
Sep 21 at SBA 7(a) Loans
The ‘Hidden’ Costs of SBA 7(a) Loans
Sep 13 at SBA 7(a) Loans
How to Write a Business Plan for an SBA 7(a) Loan
Sep 12 at SBA 7(a) Loans
Why 2023 Is the Right Time to Buy a Business
Was This Article Helpful?
Last updated on Mar 13, 2023
3 min read

Multifamily Mortgage Rates (Updated Daily)

Check the latest apartment and multifamily mortgage loan indexes and rates. Information available for CMBS, agency loans, life company loans, bank loans, hard money, soft money, mezzanine financing, bridge loans, crowdfunding, and more.

In this article:
  1. Multifamily Loan Rates
  2. Today's Rate Ranges
  3. Agency Loans (Fannie Mae, Freddie Mac)
  4. Commercial Mortgage-Backed Securities (CMBS)
  5. FHA-insured Debt
  6. Multifamily Loan Rates by Loan Purpose
  7. Multifamily Loan Calculator
  8. Get Financing
Start Your Application and Unlock the Power of Choice Experience expert guidance, competitive options, and unparalleled industry expertise.
Click Here to Get Quotes →
$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!

Rates vary depending on leverage, location, asset class, DSCR, and other factors. Fill out the form below to speak with a commercial and apartment real estate lending specialist to discuss rates from Fannie, Freddie, CMBS, HUD, banks, life companies, and more. All with no cost, pressure, or obligation.

Multifamily Loan Rates

Multifamily loan rates fluctuate daily. Conventional loan products such as Fannie Mae, Freddie Mac, CMBS, and traditional bank loans work off of an index plus a spread.

For example, a Fannie Mae multifamily loan may be 200 basis points, or 2%, over the 10-year Treasury. So, if the 10-year Treasury is 1.9%, then the effective rate would be 2% + 1.9%, or 3.9%.

Spreads are determined by the lender and the chosen product (five-year, 10-year, interest-only options, etc.), and then the range of the spread will be determined by things like the property type, class, location, income, the borrower's financial strength, and so on. You can find out more about these characteristics in our helpful beginner's guide to multifamily finance.

Spreads also fluctuate with the market, so a borrower won't know her or his rate down to the basis point until the rate is locked when it comes to CMBS, Fannie, and Freddie. Banks and life insurance company multifamily loans may offer a bit more flexibility and less of a focus on spread variations. This is particularly the case with recourse compared to non-recourse loans. Full recourse loans will allow the borrower a little more flexibility in other areas of the loan, since they are attaching a personal guarantee. 

Today's interest rates for the primary indexes used for Fannie Mae, Freddie Mac, and many other loan types are below.

As a rule of thumb, spreads are generally between 200 and 250 basis points over, but for specific spreads and break-outs, fill in your details below for a free quote to see what's available for your unique situation. 

Today's Rate Ranges

Rates are approximate ranges, and they fluctuate by the moment with indexes such as the 10-year Treasury, SOFR, and others. Furthermore there is extensive underwriting that goes into each loan with considerations such as NOI, DSCR, sponsorship, market, property class, and more. The following are an approximation of where today's multifamily and commercial mortgage rates are. 

Agency Loans (Fannie Mae, Freddie Mac)

Commercial Mortgage-Backed Securities (CMBS)

FHA-insured Debt

Loan Program

Interest Rate

Term

Fannie Mae Loan

4.95% - 7.05%

5 - 25 years

Freddie Mac Loan

4.95% - 7.05%

5 - 25 years

CMBS Loan

5.30% - 8.30%

5 - 10 years

HUD Multifamily Loan

4.09% - 6.59%

5 - 35 years

Multifamily Loan Rates by Loan Purpose

Loan Purpose

Interest Rate

Multifamily Purchase

4.95% - 7.05%

Multifamily Refinance

4.95% - 7.05%

Multifamily Construction

5.82% - 13.82%

Multifamily Loan Calculator

After getting an idea of where today's rates stand, why not see how this prices into your debt cost? Plug your figures into the calculator below, and we'll give you a breakdown of your monthly financing costs as well as any additional details, like the amount of any balloon payment.

In this article:
  1. Multifamily Loan Rates
  2. Today's Rate Ranges
  3. Agency Loans (Fannie Mae, Freddie Mac)
  4. Commercial Mortgage-Backed Securities (CMBS)
  5. FHA-insured Debt
  6. Multifamily Loan Rates by Loan Purpose
  7. Multifamily Loan Calculator
  8. Get Financing

Getting commercial property financing should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

Get financing →
Janover logo

Multifamily Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

Janover Inc.

6401 Congress Ave
Ste 250
Boca Raton FL 33487
(561) 556-5777 

hello@multifamily.loans

Multifamily Loans

Beginner's Guide
Multifamily Refinance
Multifamily Mortgage Calculator
Current Rates
Commercial Mortgage Calculator
Commercial Loan Rates

Site Information

Privacy Policy
Terms of Use

This website is owned by a company that offers business advice, information and other services related to multifamily, commercial real estate, and business financing. We have no affiliation with any government agency and are not a lender. We are a technology company that uses software and experience to bring lenders and borrowers together. By using this website, you agree to our use of cookies, our Terms of Use and our Privacy Policy. We use cookies to provide you with a great experience and to help our website run effectively.

Freddie Mac® and Optigo® are registered trademarks of Freddie Mac. Fannie Mae® is a registered trademark of Fannie Mae. We are not affiliated with the Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA), Freddie Mac or Fannie Mae.

This website utilizes artificial intelligence technologies to auto-generate responses, which have limitations in accuracy and appropriateness. Users should not rely upon AI-generated content for definitive advice and instead should confirm facts or consult professionals regarding any personal, legal, financial or other matters. The website owner is not responsible for damages allegedly arising from use of this website's AI.

Copyright © 2023 Janover Inc. All rights reserved.