Hendricks & Partners is able to offer Freddie Mac multifamily and healthcare facility loan programs in selected states. Freddie Mac approves all loan transactions and the closing time ranges from 45 to 60 days. Contact Hendricks & Partners to see which listed features and rate options may be combined with offered products to create an ideal financing solution for you.

Features

• Early rate lock: Allows borrowers to lock the interest rate 30 to 270 days in advance of funding to manage the risks of a volatile rate environment
• Supplemental loans: Ability to obtain additional loan proceeds on a property with a pre-existing Freddie Mac mortgage after one year with coterminous, noncoterminous, and split mortgage options
• Prepayment options: Borrowers can opt for yield maintenance (YM) with non-standard YM periods available and alternative prepayment options for ARM loans

Rate options

• Fixed rate: Protects borrowers from interest rate increases and provides a predictable payment and versatile amortization schedules
• Standard ARM: Benefits borrowers who prefer floating rates and flexible prepayment terms. Choice of underlying indices and interest rate caps with the option to convert to a fixed-rate loan
• Capped ARM: Offers a floating-rate for the full term with an embedded interest rate cap, eliminating third party fees, agreements and negotiations, saving time and money
• Fixed/floating rate combinations:
  –– Fixed-to-Float: Offers cost savings at pricing and additional flexibility at maturity
  –– Float-to-Fixed-to-Float: Provides low short-term floating rates to maximize cash flow early on and lock in a fixed-rate for the remainder of the term up front in order to eliminate the risk of rising rates in the future

Products

• Conventional mortgage: Provides financing for the acquisition, refinance, and modest rehabilitation of multifamily properties
  –– High-Leverage product: Improves the process and reduces the cost of obtaining additional financing, up to 80% LTV, by eliminating the need of mezzanine financing from third-party sources
  –– Premier Lease-up Execution: Extended early rate lock, up to 18 months, is utilized to target qualified conventional newly constructed or substantially renovated properties in lease-up
• Affordable housing: Offers both debt financing and equity investment, providing easier access to cash, availability and efficiency
  –– Forward Commitments: Offers a fixed or variable-rate permanent loan at the start of construction or substantial rehabilitation, providing needed liquidity early on
  –– Bond Credit Enhancements: Freddie Mac serves as a liquidity provider and credit enhancer on newly issued or refunded bonds, providing low-cost financing with higher proceeds
  –– LIHTC and Section 8 Housing
• Speciality financing: Available for senior housing, assisted living and independent living
• Credit facility: Long- and short-term flexible financing available at a competitive price with Non-Crossed or Revolving Credit Facility programs

Senior Housing/Assisted Living