Multifamily Lending Specialists
Multifamily Loans: Apartment Building Financing from $1M to $100M+
Buy, refinance or renovate apartment buildings with 5 or more units. Agency (Fannie Mae and Freddie Mac), HUD/FHA, bank and multifamily bridge loans, with rates from 7%.
What Is a Multifamily Loan?
A multifamily loan is commercial financing used to purchase, refinance, or renovate residential properties with five or more units — apartment buildings, student and senior housing, affordable housing, and mixed-use properties. Lenders size these loans to the property's net operating income, so the debt service coverage ratio, occupancy, and your experience as an operator carry more weight than personal income. Properties with one to four units are generally financed as residential mortgages or DSCR loans instead, which is why most multifamily programs start at 5+ units.
Borrowers can choose among agency (Fannie/Freddie), HUD/FHA, and conventional programs depending on the property and goals, while value-add deals often start with bridge financing before refinancing. Investors weighing other commercial assets can compare commercial real estate loans or estimate payments with our loan calculator.
Why Choose Us
Why Choose Our Multifamily Financing
Partner with experienced multifamily lenders who understand the unique financing needs of apartment building investors.
Competitive Rates
Rates from 7% for qualified borrowers and stabilized properties, with fixed and floating options.
Fast Processing
Streamlined underwriting process with decisions in 10-15 business days and funding in 30-45 days.
Flexible Terms
5-30 year terms with loan amounts from $1M to $100M+ for various multifamily property types.
Every Program, One Application
We work with agency, HUD, bank and bridge lenders and match your property to the program that fits.
Multifamily Loan Programs
Choose from a variety of financing options tailored to different property types and investment strategies.
Conventional Multifamily
Traditional bank financing for stabilized properties
- 70-80% LTV
- 25-30 year terms
- $1M-$50M+
- 1.25+ DSCR
Agency Loans (Fannie/Freddie)
Government-sponsored enterprise financing
- Up to 80% LTV
- Fixed & floating rates
- $1M-$100M+
- Non-recourse available
HUD/FHA Multifamily
Government-backed financing for affordable housing
- Up to 87% LTV
- 35-40 year terms
- Below-market rates
- Non-recourse
Bridge Financing
Short-term financing for value-add opportunities
- 70-80% LTV
- 12-36 months
- Interest-only
- Quick closing
Multifamily Bridge Loans
A multifamily bridge loan is short-term, interest-only financing for an apartment building that a permanent lender won't finance yet: a value-add property with units to renovate, a building in lease-up after a purchase, or an acquisition that has to close in weeks rather than months. Terms usually run 12 to 36 months, and many lenders fund part of the renovation budget along with the purchase.
The plan is to refinance into an agency, HUD or bank loan once occupancy and rents are stabilized, or to sell. Lenders underwrite that exit as closely as the property, so come with a renovation budget, a timeline and a rent comparison. See how bridge loans work for other property types on our commercial bridge loans page.
Fannie Mae and Freddie Mac Agency Loans
Agency loans are the main source of permanent financing for stabilized apartment buildings. They offer fixed or floating rates, terms commonly of 5 to 10 years with up to 30-year amortization, leverage up to about 80% of value, and non-recourse structures. Freddie Mac also runs a small balance program for smaller properties. Prepayment is usually handled through yield maintenance or a step-down schedule, so match the term to how long you plan to hold the building.
HUD/FHA Multifamily Loans
HUD's 223(f) program finances the purchase or refinance of existing apartment buildings with terms up to 35 years, and 221(d)(4) finances new construction and substantial rehab with terms up to 40 years. Both are fully amortizing, fixed-rate and non-recourse, with the highest leverage available for affordable housing. The tradeoff is time: HUD loans take longer to close than agency or bank loans.
Multifamily Refinance
Refinance to lower your rate, extend a maturing loan, take cash out for improvements or another acquisition, or move a renovated property from a bridge loan to long-term financing. Lenders size the new loan to the property's current net operating income, so a building whose rents have grown since purchase may support a larger loan. Compare multifamily with other commercial real estate loans or large-balance CMBS loans.
Eligible Property Types
We finance a wide range of multifamily properties, from small apartment buildings to large residential complexes.
Apartment Buildings (5+ units)
Mixed-Use Properties
Student Housing
Senior Housing
Affordable Housing
Market-Rate Rentals
Condominium Projects
Townhome Communities
Quick Rate Estimate
Conventional Rates:7.00% - 7.50%
Agency Rates:From 7.00%
HUD/FHA Rates:From 7.00%
*Rates vary based on credit, property type, and market conditions
Qualification Requirements
General guidelines for multifamily loan approval. Specific requirements may vary by program.
Borrower Requirements
- Minimum 25% down payment (varies by program)
- Debt Service Coverage Ratio of 1.25x or higher
- Property must be stabilized (85%+ occupancy) for permanent financing
Financial Requirements
- Borrower net worth equal to loan amount
- Liquidity of 6-12 months of debt service
- Experience in multifamily property management
Our Multifamily Lending Process
Streamlined process designed specifically for multifamily property investors and developers.
1
Application
Submit property details and financial information
2
Underwriting
Property appraisal and financial analysis
3
Approval
Credit decision and term sheet provided
4
Closing
Final documentation and funding
Explore Related Financing Options
Compare financing options to find the best fit for your business needs
$2M–$100M+
CMBS Loans
Commercial mortgage-backed securities for larger properties with non-recourse options.
Learn more$500K–$25M
Conventional Commercial Loans
Standard bank financing for stabilized commercial properties with proven cash flow.
Learn more$500K–$50M+
Commercial Real Estate Loans
Financing for office buildings, retail centers, industrial properties, and mixed-use developments.
Learn more$500K–$25M
Bridge Loans
Fast short-term financing for time-sensitive acquisitions and property transitions.
Learn moreReady to Finance Your Multifamily Property?
Get personalized loan terms and rates for your apartment building or rental property investment. Our multifamily specialists are ready to help.
FAQ
Frequently Asked Questions
Multifamily financing refers to commercial loans used to purchase, refinance, or renovate residential properties with 5 or more units, including apartment buildings, student housing, senior housing, and mixed-use properties.
A multifamily bridge loan is short-term financing, usually 12 to 36 months and interest-only, for an apartment building that doesn't yet qualify for permanent financing: a value-add renovation, a property in lease-up, or a purchase that has to close fast. You repay it by refinancing into an agency, HUD or bank loan once the property is stabilized, or by selling.
Agency (Fannie Mae and Freddie Mac), HUD and CMBS multifamily loans are generally non-recourse, with standard carve-outs for things like fraud or environmental issues. Bank loans and most bridge loans usually require a personal guarantee, though larger, lower-leverage deals can sometimes be structured without one.
Most commercial multifamily loan programs start at 5+ units. Properties with 1-4 units are typically financed through residential mortgage or DSCR rental loan programs. Our multifamily loans range from $1M to $100M+.
Debt Service Coverage Ratio (DSCR) measures the property's net operating income relative to its debt payments. Most lenders require a minimum DSCR of 1.25, meaning the property generates 25% more income than needed to cover loan payments.
We finance apartment buildings (5+ units), mixed-use properties, student housing, senior housing, affordable housing, market-rate rentals, condominium projects, and townhome communities.
Most programs look for a debt service coverage ratio of 1.25x or higher, a stabilized property at 85% or greater occupancy, borrower net worth equal to the loan amount, and 6-12 months of liquidity for debt service. Experience managing multifamily property and a down payment starting around 25% are also typically expected.
Down payment generally starts at 25%, though it varies by program. Agency loans (Fannie/Freddie) can reach up to 80% LTV and HUD/FHA programs up to 87% LTV, which lowers the equity required. The exact figure depends on the property's cash flow, your experience, and the loan structure you choose.
Our streamlined underwriting typically delivers a decision in 10-15 business days with funding in 30-45 days for conventional and agency loans. Government-backed HUD/FHA financing can take longer due to additional review. Having your rent roll, operating statements, and financials ready up front helps keep the timeline on track.
Agency loans (Fannie/Freddie) offer up to 80% LTV with non-recourse options for stabilized properties. HUD/FHA programs provide up to 87% LTV and 35-40 year terms, ideal for affordable housing. Conventional bank loans run 70-80% LTV with 25-30 year terms. The best fit depends on your property type and goals.
Still have questions? Our loan experts are here to help.