Underwrite the opportunity
We review sponsorship, property performance, business plan, and priorities before approaching the market.
Multifamily financing
Multifamily and Apartment Loans from $2MM to $100MM+
Quick answer: Multifamily loans finance the acquisition, refinance, and recapitalization of apartment properties from small 5 unit buildings to large institutional portfolios. Commercial Lending Solutions arranges multifamily financing from $2 million to over $100 million through agency lenders (Fannie Mae and Freddie Mac), life insurance companies, CMBS conduits, banks, and debt funds, matching leverage, rate, and recourse structure to each sponsor's hold strategy.
NationwideMarket coverage
1,000+Capital relationships
$2MM+CLS engagement floor
24 hoursInitial response
When it fits
When Multifamily financing fits.
Multifamily remains the most liquid asset class in commercial real estate, which means apartment owners have more lender choice, and more pricing spread between lenders, than almost any other property type. Agency lenders (Fannie Mae DUS and Freddie Mac Optigo) offer the deepest liquidity and longest fixed-rate terms for stabilized conventional and affordable apartments, life insurance companies compete aggressively for institutional-quality assets in primary markets, CMBS provides leverage for secondary market and value-add stories that agencies pass on, and bridge and debt fund capital covers lease-up, renovation, and repositioning before permanent financing is in place. Commercial Lending Solutions structures multifamily financing across every hold stage, from acquisition bridge through stabilized permanent takeout, for conventional, affordable, workforce, student, and senior housing communities nationwide.
Structure before pricing: leverage, recourse, reserves, prepayment, and closing certainty can matter as much as the headline coupon. We test those trade-offs before recommending a path.
01
Stabilized conventional apartment acquisitions and refinances
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Value-add multifamily renovation and repositioning
03
Affordable and workforce housing preservation
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Ground-up apartment development and construction-to-perm execution
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Student and senior housing communities
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Multifamily portfolio and blanket loan financing
Lender selection
How We Source Multifamily Capital
We do not treat the lender list as a directory. We target the desks whose current appetite fits the asset, sponsorship, market, and business plan, then compare the full execution, not only the rate.
| Capital source | Where it may fit |
|---|---|
| Fannie Mae / Freddie Mac | Programmatic multifamily or housing capital with defined underwriting, documentation, and eligibility requirements. |
| Life Insurance Companies | Long-duration fixed-rate capital for high-quality assets and experienced sponsors, generally with conservative leverage. |
| CMBS Conduits | Non-recourse execution with broad property appetite, balanced against more standardized servicing and prepayment provisions. |
| Banks and Credit Unions | Relationship-oriented capital that can offer local market knowledge and structural flexibility, with recourse often considered. |
| Debt Funds | Flexible capital for transitional, complex, leveraged, or time-sensitive executions where conventional credit boxes may not fit. |
| HUD/FHA-Approved Lenders | Programmatic multifamily or housing capital with defined underwriting, documentation, and eligibility requirements. |
How we work
One process. Multiple capital sources.
We position the transaction, identify the lenders most likely to compete, and compare proposals on economics and execution risk, not just headline rate.
A well-structured financing process should create real choices for the borrower, not simply deliver the first term sheet.
Target the right lender desks
The transaction is matched to lenders whose current appetite fits the property, market, and structure.
Create a comparable field
Proposals are evaluated across rate, proceeds, recourse, reserves, prepayment, and closing certainty.
Manage execution through closing
We coordinate lender diligence, third-party reports, and issue resolution until the loan funds.
National reach
Market knowledge where the deal requires it.
We arrange multifamily financing nationwide while matching each transaction to capital sources active in that market and property type.
Atlanta, GABoston, MAChicago, ILDallas, TXDenver, COHouston, TXLos Angeles, CAMiami, FLNashville, TNNew York, NYPhoenix, AZSan Diego, CASan Francisco, CASeattle, WATampa, FL
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Questions
Multifamily financing, clarified.
The final structure depends on the asset, sponsorship, and market. These are the starting parameters we discuss most often.
Working out equity? Our commercial property down payment guide covers typical requirements by loan type: 20% to 30% conventional, 10% for SBA owner occupied.
Commercial multifamily financing starts at five units. Anything from a five unit building to an institutional apartment community or a multi-property portfolio is underwritten as commercial real estate, on the property's income rather than the borrower's personal debt-to-income ratio. Conventional, affordable, workforce, student, and senior housing all fall under the multifamily umbrella.
Multifamily rates run from 5.00% to 11.50%. Agency lenders and life insurance companies anchor the low end on stabilized product, while bridge and debt fund capital for lease-up or renovation sits at the top. Terms range from 1 to 35 years, with amortization of 25 to 35 years and loan amounts from $2 million to over $100 million.
Leverage reaches up to 85% of value or cost. Agency permanent debt on stabilized conventional apartments typically tops out near 75% to 80% LTV, affordable and workforce deals can push higher, and bridge lenders underwrite to cost on value-add business plans. The binding constraint is usually debt service coverage, not the stated LTV cap.
Agency programs generally want 90% physical occupancy sustained for 90 days, debt service coverage of 1.25x, and a sponsor with net worth roughly equal to the loan amount plus liquidity of about 10%. Replacement reserves and a third-party physical needs assessment are standard. Agency closings run 45 to 75 days, while bridge executions can close in 2 to 4 weeks.
The long fixed term comes with a prepayment structure that is expensive to break. Most agency loans carry yield maintenance or defeasance for all but the final 90 days, which can cost several points if rates fall or the asset sells early. Step-down prepayment is available on some programs at a slightly higher coupon, and it is worth pricing both.
Let's evaluate the right multifamily structure.
Share the property and financing request. We will respond within 24 hours with an initial view.