Has anyone used agency financing? (i.e. Fannie, Freddie, FHA)

[Kenneth Ryan]

Currently working on my 2nd multifamily property out i and stumbled onto this brokerage site. Does anyone have experience with agency lending that can provide insight into this type of debt? What was your experience with attaining this financing? Easy? Hard? Long?

Additionally, I was recently emailed a link to a brokerage site that led me to TapCap Co. They appear to be a brokerage site in NYC focusing on agency debt. Has anyone heard of them? Thoughts?

https://hello.tapcap.co/

[Andrew Beauchemin]

@Kenneth Ryan If you can qualify, Agency debt can bring some of the best terms available on multifamily deals. You will need to meet their requirements such as net worth, liquidity, must be in a good market, etc. to really get the best rates. Check out the Fannie & Freddie website for more info on their reqs and rates. Paperwork / processing can be longer & more of a headache than from a bank. I'd rank them slightly higher than HUD or going to the DMV.

TapCap appears to be a broker, I have never heard of them, but there are a slew of new digital groups out there recently. Do your research, ask for references, look at their transaction history, ask them about their fee structure, etc. Make sure they are actually providing value and guiding you through the transaction, not just building a database and making you do all of the work.

There are only a couple dozen of actual Agency debt servicers. Check the Fannie & Freddie websites for "DUS Lenders", they will list them. (I don't think BP will let me post a link). If they aren't on the list, they're most likely a broker. These servicers will represent the Agency lender, and will service your loan through the life of the term.