Term financing. Agency & life co.
Long-term permanent CRE financing. Fannie Mae DUS, Freddie Mac SBL & Conventional, life insurance companies. 5–30 year terms, the lowest commercial rates in the market. Pre-vetted direct agency-approved and life-co lenders on Ask Speedy.
Get on the marketplacePrograms
Four term financing programs.
| Program | Best for | Loan range | Term | Rate |
|---|---|---|---|---|
| Fannie DUS | 5+ unit MF, $5M+ stabilized | $5M-$500M+ | 5/7/10/15 yr | 5.6-6.4% |
| Freddie SBL | 5-50 unit MF, small balance | $1M-$7.5M | 5/7/10 yr | 5.8-6.6% |
| Freddie Conv. | 50+ unit MF, larger balance | $7.5M-$300M+ | 5/7/10/15 yr | 5.6-6.4% |
| Life co | Class A office/retail/industrial/MF | $5M-$200M+ | 5-25 yr | 5.5-6.5% |
FAQ
Term financing, answered.
What is term financing in commercial real estate?
Term financing is long-term permanent commercial real estate financing — typically 5, 7, 10, or 15-year fixed-rate loans for stabilized properties. The dominant sources are GSE agency loans (Fannie Mae DUS, Freddie Mac SBL/Conventional), life insurance companies, and CMBS. Term financing offers the lowest commercial rates available.
What is Fannie Mae DUS?
Fannie Mae DUS (Delegated Underwriting and Servicing) is the GSE's multifamily loan program. DUS lenders are pre-approved to underwrite, close, and service Fannie multifamily loans. Primarily $5M+ deals, 5-15 year terms, non-recourse, 80% max LTV. Direct DUS lenders on Ask Speedy.
What is Freddie Mac SBL?
Freddie Mac Small Balance Loan (SBL) program covers 5-50 unit multifamily, $1M-$7.5M. Streamlined underwriting vs Conventional. Common for smaller multifamily acquisitions. Direct Freddie SBL lenders on Ask Speedy specialize in this segment.
Are life insurance company loans available?
Yes. Life insurance companies are major direct CRE term lenders, especially for Class A office, retail, industrial, and stabilized 5+ unit multifamily. Long terms (5-25 years), non-recourse, often the lowest available rates. Higher equity requirements than agency.
Term financing vs bridge — when to use each?
Bridge is for pre-stabilization (12-36 months). Term is for stabilized properties seeking long-term permanent financing. The standard CRE deal arc is bridge → term: bridge funds value-add or acquisition, term refinances out at stabilization.