R3 Funding has access to various Freddie Mac and Fannie Mae loan programs, click on the links below for more information: 

Fannie Mae / Freddie Mac (Fixed & Floating Rate)

Freddie Mac (Other Products)

Fannie Mae (Other Products)


We stay actively involved throughout the entire process and know the process well, having closed loans under both programs for Fannie Mae and Freddie Mac. The property types we cover include conventional and non-conventional Multifamily properties, Seniors Housing, Affordable, Student and Manufactured Housing. We offer competitive fixed and adjustable rate loans under the various Freddie Mac and Fannie DUS loan programs. The loans are available for refinance, purchase or construction take-out.

Type Fannie Mae / Freddie Mac
Loan Amount$2,500,000+
Loan Term5, 7 and 10 year
Asset Types Multi-family, Student Housing, MHP & Age Restricted/ Senior Housing
RecourseNon - Recourse to Key Principals except for customary bad boy carve outs
Loan to Value Up to 80% on acqusition and refinance
DSCR Requirement1.20x & 1.25x
AmortizationTypically 30 yr (Partial Interest Only Available)
Interest RateCompetitive treasury based pricing
Broker FeesNONE
Exit FeeNONE
TI/LC, CapEx, Other ReservesOngoing TI/LC and CapEx reserves collected
PrepaymentDefeasance or yield maintenance


Bond Credit Enhancement with 4% LIHTC 

Financing for affordable multifamily properties funded by the sale of fixed or variable rate tax exempt bonds and that have received Low-Income Housing Tax Credits (LIHTC). Bond Credit Enhancement can be structured for new construction, substantial rehabilitation, moderate rehabilitation and both acquisition and refinance of stabilized affordable multifamily assets. 

Value-Add Loan

Offers short term, cost effective non-recourse financing for moderate property upgrades ranging between $5,000 to $15,000, with interest only and uncapped floating-rate loan options. 

Direct Purchase of Tax Exempt Loans

Cost effective alternative to tax exempt bond credit enhancements with 4% Low-Income Housing Tax Credits. The product geared towards financing for the acquisition or refinance of affordable multifamily properties with 4% LIHTC with at least 7 years remaining in the tax credit benefit period. The product offers fixed rate financing up to 35 years amortization with a balloon up to 18 years. 

Tax Exempt Bond Securitization (TEBS)

Offers the efficiencies of Freddie Mac’s securitization (minimum pool size of $100MM) to tax exempt bond holders in the multifamily affordable housing market. The TEBS structure is a proprietary execution offered by Freddie Mac through which a Sponsor transfers privately placed tax-exempt multifamily housing revenue bonds (and possibly related taxable bonds or loans) to Freddie Mac in exchange for:

  • Freddie Mac senior Class A-M Certificates that are sold to investors and;
  • Subordinate Class B-M Certificates that are retained by the Sponsor.


Tax-Exempt Bond Credit Enhancement

Fannie Mae provides credit enhancement for tax-exempt bonds issued to finance the acquisition, new construction, refinancing or moderate to substantial rehabilitation of multifamily properties. The product offers fixed rate non-recourse financing up to a 30 year term with 30 year amortization (minimum 15 years for new construction and substantial rehabilitation).

ARM 7-4

Fannie Mae offers a 7 year variable rate financing option with an embedded cap, and fixed rate conversion option for Properties with 5 to 50 units, and Multifamily Affordable Properties of any size.