Property type
Multifamily loans, matched to your deal
A multifamily loan finances an apartment property of five units or more, underwritten primarily on the income the building produces rather than on the sponsor alone. It is the deepest part of the commercial market, which means the widest spread of programs: agency and bank debt for stabilised assets, bridge and value-add structures for buildings being repositioned, and construction facilities for new development. The right program depends far more on where the asset sits in that cycle than on its size.
- 5,000+loan programs screened
- 5–8matches on a typical deal
- $0 upfrontto submit and compare offers
- 0.50–1.00%broker fee, paid only at closing
Who is a multifamily loan actually for?
Owners and sponsors of apartment property at or above five units, whether that is a stabilised building held for income, a repositioning play where rents are being brought to market, or a development that has not been built yet. Property of four units or fewer is a different underwrite and usually sits with small multifamily or rental programs instead.
What do multifamily lenders disagree about?
Where the asset is in its cycle, and how they price the gap between current income and stabilised income. A stabilised building with clean operating history draws one set of programs; the same building mid-repositioning, with units offline and rents below market, draws a different set entirely and is quoted on assumptions rather than history. Programs also differ on unit count minimums, on how they treat student or age-restricted housing, and on how much weight they give the sponsor operating record versus the asset itself.
What should a multifamily file include?
A current rent roll and a trailing operating statement, the unit mix, the capital plan if one is underway, and a clear statement of what the income is expected to look like when the work is done. Files that show current and projected income side by side, with the assumptions behind the projection stated plainly, get quoted faster because the lender can see immediately which of its programs the deal belongs to.
How does getting matched actually work?
You describe the deal once — about five minutes — and it is screened against 5,000+ loan programs. Most deals return 5–8 matches, and the median first offer arrives in under an hour. There is $0 upfront; the fee is 0.50–1.00%, paid only at closing.
YieldStack is a commercial mortgage brokerage, not a lender. The rate, the leverage and the credit decision belong to the lenders competing for your deal; our job is making sure the right ones see it at the same time, so the terms you compare are real competition rather than one desk’s appetite.
What do lenders actually look at?
Every program weighs these in its own way — which is the argument for several quoting at once.
- Current income against the proposed payment, on the lender’s own coverage math
- Rent roll quality, unit mix and the trailing operating history
- Whether the asset is stabilised, being repositioned, or not yet built
- Sponsor experience operating comparable property
- The business plan, and whether the projected income supports it
Frequently Asked Questions
What counts as multifamily?
Generally a residential property of five units or more. At four units and below most programs treat the asset as small multifamily or residential investment property, which changes both the underwrite and the pool of lenders.
Can I finance a multifamily property that is not fully occupied?
Yes, though vacancy moves the deal toward bridge and value-add programs that underwrite to a stabilised projection rather than to current income. The plan for filling the building becomes part of what is being quoted.
Do multifamily lenders require prior experience?
Programs differ. Some want a track record operating comparable property, others weigh the asset more heavily and accept a newer sponsor with the right structure. It is a program rule, so it is worth testing several.
How is student or senior housing treated?
Usually as its own category. Some programs lend on it readily, others exclude it, and the ones that do lend often underwrite the operating model differently from conventional apartments.
Can one loan cover a portfolio of buildings?
Sometimes, as a blanket or portfolio facility across several assets. It is a distinct structure with its own release and substitution mechanics, and fewer programs offer it.
What happens if the business plan slips?
That risk is priced at the outset, which is why lenders test the projection so carefully. Value-add programs are usually written with term and extension options that assume the work takes time.
Is YieldStack a lender?
No. YieldStack is a commercial mortgage brokerage, not a lender. Every term sheet comes from a lender in the network and is subject to that lender's underwriting.
Does it cost anything to see terms?
No. It costs $0 upfront to submit a deal and review offers; YieldStack's broker fee is 0.50–1.00% of the loan amount and is paid only at closing.
Is financing guaranteed?
No. Every credit decision is made by the lender; YieldStack arranges the introductions and negotiates on the borrower's side, and no loan, rate, or closing is guaranteed.
Next step
One deal.Several lenders.
YieldStack is a commercial mortgage brokerage, not a lender.