| Index | Oct 21 | vs. Oct 13 |
|---|---|---|
| 5-Year Treasury | 4.94% | -6 bps |
| 7-Year Treasury | 5.02% | -9 bps |
| 10-Year Treasury | 5.12% | -9 bps |
| 30-Day Avg. SOFR | 3.89% | +4 bps |
The latest rate picture
Compared with the October 13 sheet, the 5-year Treasury is down 6 bps, the 7- and 10-year Treasuries are down 9 bps, and 30-day average SOFR is up 4 bps.
Pricing is property-specific. Compare proceeds, debt service, fixed period, prepayment and total closing costs alongside the coupon.
Agency Multifamily | Conventional
| Term | LTV | DSCR | Rate |
|---|---|---|---|
| 15-Year | 65% | 1.35x | 6.65% - 6.95% |
| 10-Year | 55% | 1.55x | 6.17% - 6.37% |
| 10-Year | 65% | 1.35x | 6.27% - 6.57% |
| 10-Year | 80% | 1.25x | 6.47% - 6.77% |
| 7-Year | 55% | 1.55x | 6.12% - 6.32% |
| 7-Year | 65% | 1.35x | 6.22% - 6.52% |
| 7-Year | 80% | 1.25x | 6.47% - 6.77% |
| 5-Year | 55% | 1.55x | 6.09% - 6.29% |
| 5-Year | 65% | 1.35x | 6.27% - 6.57% |
| 5-Year | 75% | 1.25x | 6.62% - 6.92% |
| 10-Year SARM | 75% | 1.00x | 6.09% - 6.19% |
SARM is floating-rate. Rate-cap terms require confirmation. Loans below $6MM are quoted separately.
Agency Multifamily | CME
| Term | LTV | DSCR | Rate |
|---|---|---|---|
| 15-Year | 80% | 1.25x | 6.47% - 6.67% |
| 10-Year | 55% | 1.55x | 6.07% - 6.12% |
| 10-Year | 65% | 1.35x | 6.17% - 6.32% |
| 10-Year | 80% | 1.25x | 6.27% - 6.47% |
| 7-Year | 55% | 1.55x | 6.02% - 6.12% |
| 7-Year | 65% | 1.35x | 6.17% - 6.37% |
| 7-Year | 80% | 1.25x | 6.37% - 6.57% |
| 5-Year | 75% | 1.25x | 6.34% - 6.54% |
| 10-Year ARM | 80% | 1.25x | 5.94% - 6.19% |
ARM is floating-rate; rate-cap costs and terms are quoted separately. All other rows show fixed-rate indications.
FHA / HUD Multifamily
| Program | Term / amortization | Leverage | Rate |
|---|---|---|---|
| 223(f) Refinance | 35 years | 87% / 1.15x | 6.60% - 7.05% |
| 221(d)(4) Construction / Perm | 40 years | 87% / 1.15x | 7.05% - 7.50% |
Rates before mortgage insurance premium (MIP). Leverage and coverage reflect the stated scenario; eligibility and maximum proceeds vary by program.
Life Company | Multifamily
| Term | Amortization | LTV | Rate |
|---|---|---|---|
| 5-Year | 25 years | 50% | 6.29% - 6.99% |
| 5-Year | 25 years | 60% | 6.54% - 6.84% |
| 10-Year | 25 years | 50% | 6.27% - 6.52% |
| 10-Year | 25 years | 60% | 6.52% - 6.82% |
| 15-Year | 15 years (full) | 60% | 6.75% - 7.45% |
15-year option is fully amortizing.
Life Company | Commercial
| Term | Amortization | LTV | Rate |
|---|---|---|---|
| 5-Year | 25 years | 50% | 6.44% - 6.94% |
| 5-Year | 25 years | 60% | 6.44% - 7.14% |
| 10-Year | 25 years | 50% | 6.52% - 7.02% |
| 10-Year | 25 years | 60% | 6.62% - 7.32% |
| 15-Year | 15 years (full) | 60% | 6.80% - 7.50% |
15-year option is fully amortizing.
CMBS
| Term | Amortization | LTV | Rate |
|---|---|---|---|
| 5-Year | 30 years | 65% | 6.94% - 7.44% |
| 10-Year | 30 years | 65% | 6.87% - 7.37% |
Ranges reflect multiple CMBS pricing scenarios for each term.
Bridge | Multifamily & Commercial
| Profile | Leverage | Term | Rate |
|---|---|---|---|
| Multifamily, light value-add | Up to 75% LTV | 2 to 3 yrs + ext. | SOFR + 2.25% - 3.00% |
| Multifamily, heavier transition | Up to 75% LTC | 2 to 3 yrs + ext. | SOFR + 2.75% - 3.50% |
| Commercial, transitional | Up to 70% LTV | 2 to 3 yrs + ext. | SOFR + 3.00% - 4.50% |
Floating-rate, interest-only. Origination typically 0.75% to 1.50%. Rate-cap and reserve requirements vary by lender and business plan.
Private Capital | Bridge & Land
| Profile | Leverage | Term | Rate |
|---|---|---|---|
| Bridge, purchase or refinance | Up to 70% LTV | 12 to 24 mo | 9.50% - 12.50% |
| Land, entitlement, time-sensitive | Up to 60% LTV | 12 to 24 mo | 11.00% - 15.00% |
Interest-only, typically 1 to 3 points. Speed and certainty of close drive pricing; recourse is common.
SBA | Owner-Occupied
| Program | Leverage | Term | Rate |
|---|---|---|---|
| SBA 7(a) | Up to 85% - 90% | Up to 25 yrs | Prime + 1.00% - 2.50% |
| SBA 504 (bank first lien) | 50% first / 40% SBA | Up to 25 yrs | Request current terms |
For owner-occupied properties (51%+ occupancy). Prime is the Wall Street Journal Prime Rate. SBA guaranty fees apply.
Additional Financing | Request a Quote
- Construction
- Ground-up, for-sale, build-to-rent and heavy rehab; pricing depends on leverage, sponsor and market.
- Bank, credit union & small balance
- Property-specific pricing and loan structure.
- Gap capital & equity
- Mezzanine, preferred equity, joint venture and GP / co-GP equity.
Contact Andrew for current rates and a financing structure tailored to your property.
Request a QuoteRates are indicative, subject to change and underwriting, and are not lender quotes or a commitment to lend. Piccard Financial arranges financing through third-party capital sources. Program terms cannot be combined. Benchmark index levels are from public sources. For a quote on your property, submit a deal or call 310.363.5136. See also the weekly Capital Markets Update.