All Forum Posts by: Tom Keating

I agree with @Account Closed - In order to qualify for a Freddie SBL loan your investor group as a whole will need a Net Worth equal to or greater than the loan amount.  

If you would like to discuss the Freddie Mac Small Balance Loan program please PM me and we can exchange emails.

@Michael Masters No problem at all, I work with Freddie on a daily basis and finance deals with the Freddie SBL program frequently.  

Fee free to message me should you have any other questions on the program or pricing for your purchase.

@Michael Masters - To answer you question, Freddie wouldn't include the HELOC in the calculation of your DSCR ratio. However, they will require a Net Worth equal to the loan amount and Liquidity totaling 9 months of the debt service of that loan. The NW and Liquidity requirements are calculated based on the combination of the personal financials of all investors included in that purchase.

Feel free to message me with any further questions on Freddie SBL.

I think their are a couple options here, a lot has to do with whether they're single family or multifamily and the total loan amount you would be seeking.  Feel free to private message with with any questions. 

Thanks

@Jeff D. : Yes, I believe you're thinking of the FHA product. SBL only takes 55 days to close.

@James Kojo: This is true, you should go through a lender that has a direct license with Freddie Mac to originate and service the SBL product.  

If you have any questions, feel free to message me if you have any questions.

The Freddie Mac SBL Program offers 75%-80% LTV non-recourse financing with fixed rate terms up to 10-years and 30-year amortizations for loan amounts between $1million and $7.5million. They also have I/O capabilities. I am a little biased but from my experience with a variety of multifamily financing and various products, Freddie SBL is only of the most aggressive in terms of pricing. Feel free to message me with any questions.
 

The Freddie SBL program does offer full term I/O for an additional 15-30 basis points depending on the product that you go with (i.e, 5-year, 7-year, 10-year). I agree that it doesn't typically work with most deals, the debt service coverage requirement is usually constrained. However, I think the Freddie SBL program is one of the most aggressive in regards to pricing. Feel free to PM me with any questions on the Freddie SBL program. CBRE has a direct license to originate and service the Freddie SBL product.

Is this for a single family or multifamily property?

Is this for a single family or multifamily?