Freddie Mac SBL – Market Tiers
There are five Regions (Western, South Central, North Central, Southeast and Northeast) under the Freddie Mac SBL Program. Interest rates vary slightly by Region.
Further, Freddie Mac breaks down markets by Tiers. There are four Market Tiers under the Freddie Mac SBL Program. Every county in the country is designated as either a Top, Standard, Small or Very Small Market. In general, counties in larger cities are designated as Top or Standard Markets while counties in smaller cities are designated as Small or Very Small Markets. Further, Tier designation is based on the size of the rental population, determined by Census Bureau, and not necessarily population.
Rates and terms vary based on what Market Tier and Region the property is located in.