Freddie Mac
Bellwether Real Estate Capital LLC, is merging with Enterprise Community Investment, Inc.'s Multifamily Mortgage Finance business. The new company, Bellwether Enterprise Real Estate Capital, will offer greater geographic reach and product offerings.
Bellwether is an approved Freddie Mac Multifamily Program Plus® Seller/Servicer. This designation, shared by only 26 other firms in the country, authorizes Bellwether to sell and service loans secured by multifamily properties in Ohio, Kentucky and Western Pennsylvania.
Freddie Mac purchases multifamily mortgages through the nation's best locally based lenders who have years of lending expertise and proven track records of success. Together, these lenders make up Freddie Mac's Program Plus network. Since the launching of Freddie Mac's current multifamily business in 1993, Freddie Mac has purchased more than $189 billion in multifamily mortgages, financing rental housing for 4 million families. Borrowers who choose a Freddie Mac loan enjoy competitive risk-based pricing, a broad array of innovative mortgage products and the support of people who have the knowledge and experience necessary to provide flexible, creative solutions for their financing needs. Freddie Mac issued $14 billion dollars in multifamily loans in 2010 with an even larger goal in 2011. Freddie Mac offers the following general terms:
| Freddie Mac | |
|---|---|
| Maximum Loan to Value * | 75 - 80% |
| Minimum DSCR | 125 - 130x |
| Loan Term | Variable to fixed 3-30 years |
| Interest Rates | Contact your local Bellwether mortgage banker |
| Amortization | Up to 30 Years |
| Tax and Insurance Escrow | Yes |
| Replacement Reserve | TBD |
*No cash out permitted at 80% LTV
