Interest Rates for Multifamily Products and Programs

NOTE: Rates are subject to change at Minnesota Housing’s sole discretion. Rates are not locked until an Engagement Letter or Selection Letter is issued.
 

Low and Moderate Income Rental (LMIR) Program

Rates as of 6/10/2021

New Construction or Substantial Rehab*

Term / Amortization

Rate **

Structure Assumes:

40 / 40 5.00% New Construction / Adaptive ReUse
35 / 35 4.75% Acquisition / Rehab / Refinance
30 / 30 4.50% No Agency deferred sources requested
* Assumes closing after completion of construction period
** Plus HUD MIP of 0.125%

Refinance with or without Limited Scope Rehab.

35 / 35 3.50%
30 / 30 3.25%

LMIR Bridge

LMIR bridge loans provided through the sale of tax exempt bonds are subject to market rates at the time of bond sale.