Multifamily 5+: a small balance transitional bridge

Multifamily 5+ is our small balance transitional bridge for buildings with five or more units. It also carries some of our most specific requirements, which we publish up front so you can tell quickly whether a deal fits.

The published terms

• Up to 70% LTC
• Up to 75% of as-is value (LTV)
• 1.25x stabilized DSCR
• 725 minimum FICO

The requirements

• Location: CT, IL, MA, NC, NH, NJ, NY, PA, RI and SC only
• Experience: first-time multifamily buyers are not eligible
• Liquidity: 10% of the loan amount
• Net worth: 100% of the loan amount

What 'transitional' means

A transitional bridge finances a property on its way from where it is to where it is going: typically improving units, leasing them up, or both. The 1.25x stabilized DSCR in the terms looks at where the property is expected to end up. That is a higher bar than the 1.05x minimum on our Rental Loan (DSCR).

Who it fits

An investor with multifamily experience, the liquidity and net worth to match, and a building in one of the ten states. If you are a first-time multifamily buyer, this is not the right program yet, and we would rather tell you early than late.

Send the building's details

Include the address, the number of units, current occupancy and rents, your plan for the property, and your track record.

Program figures are indicative only and subject to complete documentation, underwriting, appraisal and final credit approval. This post is general information, not financial or legal advice.