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 |
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Rates as of 6/10/2021 |
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| New Construction or Substantial Rehab* | ||||
Term / Amortization |
Rate ** |
Structure Assumes: |
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| 40 / 40 | 5.00% | New Construction / Adaptive ReUse | ||
| 35 / 35 | 4.75% | Acquisition / Rehab / Refinance | ||
| 30 / 30 | 4.50% | No Agency deferred sources requested | ||
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* Assumes closing after completion of construction period
** Plus HUD MIP of 0.125%
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Refinance with or without Limited Scope Rehab. |
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| 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. |