Small Balance Multifamily

Fund your vision with superior small balance multifamily lending

We offer customized financing solutions for loans $1 million and up to help you acquire or refinance a multifamily property. No matter the size, your loan is important to us.

Start Scrolling
A woman sitting in a chair looking at a cell phone.

by the numbers

Top-ranked multifamily lender

#1

Fannie Mae DUS Producer in 2024

Fannie Mae
Fannie Mae DUS Producer in 2024

#2

Fannie Mae DUS® Producer for Small Loan in 2024

Fannie Mae
Fannie Mae DUS® Producer for Small Loan in 2024

#4

Freddie Mac Optigo Lender in 2024

Freddie Mac
Freddie Mac Optigo Lender in 2024

Fannie Mae

Fannie Mae

Freddie Mac

Current Rates

Freddie Mac Small Balance Loans

Fannie Mae Multifamily Small Loans

  • Columns display rates by maximum loan-to-value (LTV) and minimum debt service coverage ratio (DSCR).
  • Fixed products have fixed interest rates throughout the stated loan term.
  • 5- & 7-year hybrid products have a 10-year loan term with an initial fixed-rate period as indicated in the loan product's name, converting to a floating-rate product thereafter. 10-year hybrid products follow the same structure, but with a 20-year term.

FREDDIE MAC

Last Updated

LTV | DSCR

80% | 1.20x

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

6.14% - 6.54%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

6.15% - 6.55%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

6.17% - 6.57%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

6.09% - 6.49%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

6.00% - 6.40%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.97% - 6.37%

December 2, 2025

LTV | DSCR

65% | 1.40x

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.94% - 6.34%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.95% - 6.35%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.97% - 6.37%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.89% - 6.29%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.80% - 6.20%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.77% - 6.37%

December 2, 2025

LTV | DSCR

55% | 1.50x

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.86% - 6.26%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.87% - 6.27%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.89% - 6.29%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.81% - 6.21%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.72% - 6.12%

December 2, 2025

5-Year Hybrid

7-Year Hybrid

10-Year Hybrid

5-Year Fixed

7-Year Fixed

10-Year Fixed

5.69% - 6.09%

December 2, 2025

Displayed rate ranges are estimates based on a series of standard assumptions surrounding loan terms such as duration, rate type, interest-only period, and prepayment structure, as well as the condition, format, location, use, and tenancy of the collateral in question. Stated estimates only apply to loan requests between $2 million–$7.5 million placed on fully-stabilized, conventional multifamily properties with 5+ units and no significant tenant concentrations.


Stated rate estimates are not fixed and are subject to change at any time.


Estimates for loans between $1 million–$2 million, greater than $6 million (Fannie) or greater than $7.5 million (Freddie), flexible prepayment structures, and/or collateralized by a 50+ pad Manufactured Housing Community or other multifamily property type are available upon request.

Fannie Mae

Last Updated

LTV | DSCR

80% | 1.25x

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.12% - 6.32%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.09% - 6.29%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.17% - 6.37%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.29% - 6.49%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.46% - 6.66%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

7.29% - 7.49%

December 2, 2025

LTV | DSCR

65% | 1.35x

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.77% - 5.97%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.84% - 6.04%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.97% - 6.17%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.09% - 6.29%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.26% - 6.46%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

7.09% - 7.29%

December 2, 2025

LTV | DSCR

55% | 1.55X

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.57% - 5.77%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.64% - 5.84%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.77% - 5.97%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

5.89% - 6.09%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.06% - 6.26%

December 2, 2025

5-Year Fixed

7-Year Fixed

10-Year Fixed

12-Year Fixed

15-Year Fixed

30-Year Fixed

6.89% - 7.09%

December 2, 2025

Displayed rate ranges are estimates based on a series of standard assumptions surrounding loan terms such as duration, rate type, interest-only period, and prepayment structure, as well as the condition, format, location, use, and tenancy of the collateral in question. Stated estimates only apply to loan requests between $2 million–$7.5 million placed on fully-stabilized, conventional multifamily properties with 5+ units and no significant tenant concentrations.


Stated rate estimates are not fixed and are subject to change at any time.


Estimates for loans between $1 million–$2 million, greater than $6 million (Fannie) or greater than $7.5 million (Freddie), flexible prepayment structures, and/or collateralized by a 50+ pad Manufactured Housing Community or other multifamily property type are available upon request.

Term Sheets

  • Loan Amount: $1mm+

  • LTV: 80%

  • Non-Recourse

  • Term: 5-20 years, with a 30-year amortization schedule

  • Partial and Full-Term Interest Only available

  • Flexible Prepayment

  • Reduced cost & processing requirements available through Small Balance Loan execution (Loans ≤ $7.5mm)

  • Rate Held at Application (Small Balance Loan execution only)

  • Loan Amount: $1mm+

  • LTV: 80%

  • Non-Recourse

  • Partial and Full-Term Interest Only available

  • Streamlined rate lock option available

  • Flexible Prepayment

  • Term: 5-30 years, with a 30-year amortization schedule

  • Reduced cost and processing requirements available through Small Mortgage Loan execution (Loans ≤ $9mm)

  • Loan Amount: $2mm+

  • LTV: 70%

  • Non-Recourse

  • Reduced cost and processing requirements for loans ≤ $7.5mm

  • Term: 3-7 years, Full-Term Interest Only

  • Floating Rate Only

  • FHA: As a FHA lender, Walker & Dunlop provides permanent and construction lending for market rate, affordable, mixed income, healthcare, and senior housing (including Alzheimer’s and assisted/independent living facilities).

  • Capital Markets: Through relationships with more than 210 capital providers including insurance companies, commercial mortgage-backed securities lenders (CMBS), and banks, Walker & Dunlop’s Capital Markets execution delivers terms uniquely suited to each transaction.

Mockup of the WDSuite Landing Page on a laptop.

WDSuite

Unlock insights and make smarter decisions with Walker & Dunlop’s digital experience. Designed to reduce friction by supporting commercial real estate (CRE) professionals throughout the investment lifecycle - streamlining opportunity evaluation, risk management, and portfolio optimization though a single, intuitive platform. All at no cost.

WDSuite website mockup

Request a quote

For loan inquiries of $1 million or more, please complete this form and a member of our team will contact you.

1

Loan

2

Property

3

Personal

4

Final

Request a quote

For loan inquiries of $1 million or more, please complete this form and a member of our team will contact you.

1

Loan

2

Property

3

Personal

4

Final

Request a quote

For loan inquiries of $1 million or more, please complete this form and a member of our team will contact you.

1

Loan

2

Property

3

Personal

4

Final

Request a quote

For loan inquiries of $1 million or more, please complete this form and a member of our team will contact you.

1

Loan

2

Property

3

Personal

4

Final

By submitting this form, you accept Walker & Dunlop's terms & conditions and Privacy Policy.
Thank you for contacting us! Your inquiry has been forwarded to a member of our team.
Oops! Something went wrong while submitting the form.

Services

Our comprehensive CRE platform offers you both entity-level and property-level finance and advisory services.

Learn more

Specialties & Sectors

Affordable, multifamily, industrial, and more…you name it and we have the skills and expertise to handle it.

Learn more