What are the best resources/ways to find accurate loan terms for a multi family deal?
I am underwriting a 60 unit multi family deal and wanted to know how I can input a fairly accurate interest rate depending on loan terms. Are there websites or a back of the napkin way to find accurate interest rates? For example, I’m underwriting a 4 million dollar multi family deal, 75% LTV, and was hoping for a year or 2 of interest only that is a fixed rate. 

Northmarq’s website provides this: https://www.northmarq.com/current-rates/

How could I interpret this Northmarq doc to find an accurate rate for my situation? Also, what does the “spread” mean inside the doc? Any info or advice would be appreciated.
[{"id": "fnc5ngj", "text": "Best bet in these times is to just take the current 10yr treasury and solve the spread to get to around the low 4\u2019s everyone will say something different to try and be aggressive but this is the conservative approach. For example if, UST 10yr is .80% spread would be 3.20%ish. Also if this is going through Freddie/Fannie make sure to account for service fees which you can find online. Best,", "replies": [{"id": "fnc6e10", "text": "Ok great. So how did you come up with the \u201cspread\u201d of 3.2%? What do you mean when you say \u201cspread\u201d and how can I solve it? Thanks.", "replies": [{"id": "fnc6x7i", "text": "Spreads are variable, essentially a moving target more so than ever now with current market volatility. You are solving for interest rates in the low 4\u2019s. The interest rate in this instance is based off the UST 10yr + the spread which fluctuates so like I said, take the current 10yr treasury and add whatever is needed as the spread to get to 4.1-4.4 All in IR.", "replies": [], "depth": 3}], "depth": 2}, {"id": "fnceobr", "text": "10 year fixed rates are not in the low 4s", "replies": [{"id": "fvvpviz", "text": "He\u2019s saying that\u2019s the measure of the banks cost of funds to borrow, then you add in the banks spread to get the all in rate", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fnceqf5", "text": "Talk to a mortgage broker", "replies": [], "depth": 1}, {"id": "fncf87f", "text": "12-24 month I/O sounds like a bridge loan..  Is the property stabilized? What\u2019s current the occupancy rate?", "replies": [{"id": "fnchq1e", "text": "Property is stabilized around 95% occupancy. Could you not get a loan with 1-2 years interest only and then it starts to amortize after that?", "replies": [], "depth": 2}, {"id": "fnclt9s", "text": "He\u2019d need 55-65% LTV to get more I/o term if that\u2019s your question", "replies": [], "depth": 2}], "depth": 1}, {"id": "fni326p", "text": "Spread + tbill = interest rate. Although, some lenders have a tbill floor right now. \n\nSource - AM MTG broker and know this company VERY well.", "replies": [], "depth": 1}, {"id": "fniavpl", "text": "A couple billion dollars in loans have crossed my desk over the years and I\u2019ve never seen or heard of a fixed rate interest only period without some sort of swap component. \n\nBanks underwrite to a \u201cstress interest rate\u201d to size loans. 6.00%/25yrs or 6.50%/30yrs are fairly standard underwriting metrics for most banks \n\nBasically, you need about 281-316K annual NOI to qualify for a 75% LTV loan assuming a standard 1.30x DSCR and the underwriting metrics stated above.", "replies": [{"id": "fnibluk", "text": "2 questions: \n\n1. So is a more common form of having an interest only period (of a year or 2) a bridge loan? \n\n2. What is the most common form debt terms for a smaller multi family deal (around 60-100 units) that is already stabilized? Thanks for the help!", "replies": [{"id": "fnicwnk", "text": "1. Non-stabilized, bridge, and construction loans are always floating rate loans unless there is a swap rate component. Depending on the current cash flow and condition of a property, most banks will either only underwrite the 1-2 year portion, or will provide an interest only stabilization period that converts to a permanent loan. \n\n2. Banks underwrite to existing cash flow at a 1.20-1.30x debt service coverage ratio (DSCR) for stabilized multifamily properties, which usually fleshes out to a 60-75% LTV. I\u2019ve seen 30 years more often than 25 for underwriting amortization of multifamily properties. Loan term lengths are anywhere from just the I/O period all the way to 10 years. Quoted interest rates will vary from bank to bank, but we all underwrite using a stress underwriting interest rate.", "replies": [], "depth": 3}], "depth": 2}, {"id": "fo1qg6f", "text": "I know this is 5 days late. But what do you mean when you say \u201ca swap component\u201d? What would be an example of a fixed rate loan with interest only with a swap component?", "replies": [{"id": "fo3iwn1", "text": "A swap component is a separate interest rate contract a borrower enters into with the bank. This contract is a separate obligation between the borrower and bank. Banks have minimum net worth and liquidity requirements for swap contracts. There are countless types of swap contracts, and they can become as complex as you want.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fooxe94", "text": "At 75% LTV best option is usually Agency (especially if you\u2019re looking for IO). I\u2019d recommend that you get your deals formally quoted by Fannie/Freddie. The spread environment right now is very volatile and Fannie/Freddie have mission driven considerations. I\u2019ve seen spreads on similar profile deals vary by 60-80 bps depending on 1) How the deal was presented to Fannie/Freddie 2) How \u201cmission rich\u201d the deal is. Fannie/Freddie both prioritize properties that are affordable to the working class.", "replies": [], "depth": 1}]