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Multifamily

Agency vs CMBS — which is better?

Agency (Fannie/Freddie) for multifamily; CMBS for other commercial.

Reviewed by Keiron Brown, Founder & Editor, CalculateRealEstateROI · Educational estimates only — not investment, financial, tax, or legal advice

Direct answer

Agency (Fannie/Freddie) for multifamily; CMBS for other commercial.

Expanded explanation

Agency has better terms, more flexibility, supplemental loan capacity. CMBS more standardized, harsher prepayment.

Examples

  • 100-unit MF → Fannie DUS over CMBS every time.

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