How to Apply for the Freddie Mac Optigo Small Balance Loan Program
The Freddie Mac SBL is an agency loan, so, while it may take somewhat longer to close than traditional bank apartment loans, it closes significantly faster than certain kinds of multifamily financing, such as HUD/FHA multifamily loans. In fact, Small Balance Loans close also faster than most other Freddie Mac Multifamily loans, due to the fact that they have a streamlined application process.
Freddie Mac Optigo SBL Lenders
In order to obtain a Freddie Mac Small Balance Loan, borrowers will have to work with a Freddie Mac SBL-approved Optigo seller/servicer. For those who may not know, Freddie Mac’s new Optigo seller/servicer network is designed to provide greater certainty of execution and a faster funding process. Currently, 11 Freddie Mac SBL lenders in the United States are part of the Freddie Mac Optigo network. These include major multifamily lenders such as Arbor, Greystone, RED Capital Group, Capital One, and CBRE Capital Markets, Inc., as well as several other smaller lenders.