# Multifamily Loans by Janover

> Multifamily.loans is the #1 multifamily and apartment financing marketplace, operated by JPro Labs LLC. We connect multifamily investors and borrowers with financing from banks, credit unions, Fannie Mae, Freddie Mac, HUD/FHA, CMBS lenders, life companies, debt funds, and more. Hundreds of pages of guides, calculators, blog posts, and lending resources.

## Quick Links

- [Multifamily Loans Homepage](https://www.multifamily.loans): Start your loan search
- [Apply for Financing](https://www.multifamily.loans/apply/): Submit a loan application
- [Current Mortgage Rates](https://www.multifamily.loans/multifamily-mortgage-rates/): Today's multifamily rates
- [All Calculators](https://www.multifamily.loans/multifamily-calculators/): Interactive CRE calculators
- [Apartment Finance Blog](https://www.multifamily.loans/apartment-finance-blog/): Articles on multifamily investing
- [City & State Guides](https://www.multifamily.loans/guides/): Local market lending guides

## Calculators

- [Cap Rate Calculator](https://www.multifamily.loans/capitalization-rate-calculator/): One of the most-used CRE calculators online
- [Commercial Mortgage Calculator](https://www.multifamily.loans/commercial-mortgage-calculator/): Estimate monthly payments on commercial loans
- [Cash-on-Cash Return Calculator](https://www.multifamily.loans/cash-on-cash-return-calculator/): Measure investment return on actual cash invested
- [DSCR Calculator](https://www.multifamily.loans/dscr-calculator/): Debt service coverage ratio for underwriting
- [NOI Calculator](https://www.multifamily.loans/noi-calculator/): Net operating income calculator
- [LTV Calculator](https://www.multifamily.loans/ltv-calculator/): Loan-to-value ratio calculator
- [IRR Calculator](https://www.multifamily.loans/irr-calculator/): Internal rate of return calculator
- [Debt Yield Calculator](https://www.multifamily.loans/debt-yield-calculator/): Debt yield for lender underwriting
- [Yield Maintenance Calculator](https://www.multifamily.loans/yield-maintenance-calculator/): Prepayment penalty calculator

## Loan Programs -- Fannie Mae (25+ programs)

- [Fannie Mae Multifamily Overview](https://www.multifamily.loans/fannie-mae-multifamily-loans/): Non-recourse apartment financing with competitive fixed rates and LTVs, long-term amortizations
- [Fannie Mae Small Loans](https://www.multifamily.loans/fannie-mae-multifamily-small-loans/): Streamlined small loans with fewer documentation requirements than standard DUS
- [Fannie Mae Fixed Rate](https://www.multifamily.loans/fannie-mae-fixed-rate-multifamily-loans/): Standard fixed-rate multifamily loans with various term options
- [Fannie Mae Green Financing](https://www.multifamily.loans/fannie-mae-green-financing/): Interest rate discount for energy/water-efficient multifamily properties
- [Fannie Mae Affordable Housing](https://www.multifamily.loans/fannie-mae-multifamily-affordable-housing-loans/): Financing for properties with income-restricted units, including LIHTC properties
- [Fannie Mae Student Housing](https://www.multifamily.loans/fannie-mae-student-housing-loans/): Financing for purpose-built and market-rate student housing near universities
- [Fannie Mae Senior Housing](https://www.multifamily.loans/fannie-mae-senior-housing-loans/): Loans for independent living, assisted living, and age-restricted communities
- [Fannie Mae Manufactured Housing](https://www.multifamily.loans/fannie-mae-manufactured-housing-loans/): Financing for manufactured housing communities and mobile home parks
- [Fannie Mae Military Housing](https://www.multifamily.loans/fannie-mae-military-housing-loans/): Specialized financing for housing near military bases
- [Fannie Mae Supplemental Loans](https://www.multifamily.loans/fannie-mae-supplemental-loans/): Additional financing on top of existing Fannie Mae first mortgages
- [Fannie Mae ARM 7/4](https://www.multifamily.loans/fannie-mae-7-4-arm-loans/): 7-year adjustable rate mortgages with 4-year rate reset periods
- [Fannie Mae ARM 7/6](https://www.multifamily.loans/fannie-mae-arm-7-6-loans/): 7-year adjustable rate mortgages with 6-month rate reset periods
- [Fannie Mae Hybrid ARM](https://www.multifamily.loans/fannie-mae-hybrid-arm/): Adjustable rate loans with an initial fixed-rate period
- [Fannie Mae Structured ARM](https://www.multifamily.loans/fannie-mae-structured-arm-loans/): Structured adjustable rate products for larger transactions
- [Fannie Mae Flexible Choice Bridge](https://www.multifamily.loans/fannie-mae-flexible-choice-bridge/): Bridge financing tailored for affordable housing properties
- [Fannie Mae Choice Refinance](https://www.multifamily.loans/fannie-mae-choice-refinance/): Streamlined refinance for existing Fannie Mae borrowers
- [Fannie Mae Bulk Delivery](https://www.multifamily.loans/fannie-mae-bulk-delivery/): Portfolio execution for multiple properties in a single transaction
- [Fannie Mae Credit Facility](https://www.multifamily.loans/fannie-mae-credit-facility-financing/): Revolving credit facility for repeat multifamily borrowers
- [Fannie Mae Tax-Exempt Bonds](https://www.multifamily.loans/fannie-mae-credit-enhancement-variable-rate-tax-exempt-bonds/): Credit enhancement for variable-rate tax-exempt bond financings
- [Fannie Mae Cooperative Apartments](https://www.multifamily.loans/fannie-mae-cooperative-apartment-loans/): Financing for cooperative housing corporations
- [Fannie Mae Moderate Rehab](https://www.multifamily.loans/fannie-mae-moderate-rehabilitation-loans/): Financing for properties undergoing moderate renovations
- [Fannie Mae Near-Stabilization](https://www.multifamily.loans/fannie-mae-near-stabilization-execution-loans/): Loans for properties nearing stabilized occupancy
- [Fannie Mae Healthy Housing Rewards](https://www.multifamily.loans/fannie-mae-healthy-housing-rewards-healthy-design/): Incentives for health-promoting design features in multifamily
- [Fannie Mae FHA Risk-Sharing](https://www.multifamily.loans/fannie-mae-standard-fha-risk-sharing-execution/): Joint Fannie Mae/FHA risk-sharing execution for affordable properties

## Loan Programs -- Freddie Mac (25+ programs)

- [Freddie Mac Multifamily Overview](https://www.multifamily.loans/freddie-mac-multifamily-loans/): Low-interest, non-recourse apartment loans with long-term amortizations for market-rate, affordable, student, and senior housing
- [Freddie Mac Small Balance](https://www.multifamily.loans/freddie-mac-small-balance-apartment-loans/): Competitive terms for small-balance apartment loans with streamlined underwriting
- [Freddie Mac Fixed Rate Conventional](https://www.multifamily.loans/freddie-mac-fixed-rate-conventional-loans/): Standard fixed-rate multifamily financing with predictable payments
- [Freddie Mac Floating Rate](https://www.multifamily.loans/freddie-mac-floating-rate-loans/): Variable-rate loans for borrowers seeking flexibility or shorter hold periods
- [Freddie Mac Green Advantage](https://www.multifamily.loans/freddie-mac-green-advantage/): Rate discounts and higher proceeds for energy/water-efficient properties
- [Freddie Mac Seniors Housing](https://www.multifamily.loans/freddie-mac-seniors-housing-loans/): Financing for independent living, assisted living, and memory care facilities
- [Freddie Mac Student Housing](https://www.multifamily.loans/freddie-mac-student-housing-loans/): Loans for purpose-built student housing with specialized underwriting
- [Freddie Mac Manufactured Housing](https://www.multifamily.loans/freddie-mac-manufactured-housing-community-loans/): Financing for manufactured housing communities with pad-only or pad + home models
- [Freddie Mac Value-Add](https://www.multifamily.loans/freddie-mac-value-add-loans/): Acquire or refinance properties with planned per-unit upgrades
- [Freddie Mac Moderate Rehab](https://www.multifamily.loans/freddie-mac-moderate-rehab-loans/): Financing for properties undergoing significant rehabilitation
- [Freddie Mac NOAH Preservation](https://www.multifamily.loans/freddie-mac-noah-preservation-loan/): Preservation of naturally occurring affordable housing
- [Freddie Mac Tax-Exempt](https://www.multifamily.loans/freddie-mac-tax-exempt-loans/): Tax-exempt bond financing for affordable multifamily properties
- [Freddie Mac Workforce Housing Mezzanine](https://www.multifamily.loans/freddie-mac-workforce-housing-mezzanine-loans/): Subordinate financing for workforce housing preservation
- [Freddie Mac LIHTC Enhancement](https://www.multifamily.loans/freddie-mac-lihtc-enhancement/): Credit enhancement for Low-Income Housing Tax Credit properties
- [Freddie Mac FRED Program](https://www.multifamily.loans/freddie-mac-fred-program/): Freddie Mac's floating-rate early delivery execution for faster closings
- [Freddie Mac Lease-Up](https://www.multifamily.loans/freddie-mac-lease-up-loans/): Financing for newly constructed properties in the lease-up phase
- [Freddie Mac Impact Gap Financing](https://www.multifamily.loans/freddie-mac-impact-gap-financing/): Subordinate financing to fill capital gaps in affordable developments
- [Freddie Mac HUD Section 8](https://www.multifamily.loans/freddie-mac-hud-section-8-financing/): Financing for properties with HUD Section 8 rental assistance contracts
- [Freddie Mac Float-to-Fixed](https://www.multifamily.loans/freddie-mac-float-to-fixed-rate-loans/): Start with a floating rate and convert to fixed without refinancing

## Loan Programs -- HUD/FHA

- [HUD Multifamily Overview](https://www.multifamily.loans/hud-multifamily-loans/): FHA-insured multifamily loans with the lowest rates and longest terms in the market -- fully amortizing, non-recourse
- [HUD 223(f) Refinance/Acquisition](https://www.multifamily.loans/hud-223f-loans/): FHA-insured financing for acquisition or refinancing of existing multifamily properties with long-term fully amortizing terms and competitive LTVs
- [HUD 221(d)(4) New Construction](https://www.multifamily.loans/hud-221d4-loans/): FHA-insured construction-to-permanent loans for ground-up multifamily with long-term fully amortizing non-recourse terms -- the gold standard for new development
- [HUD 223(a)(7) Refinance](https://www.multifamily.loans/hud-223a7-loans/): Streamlined refinance for existing HUD-insured multifamily loans with reduced documentation and lower MIP rates
- [HUD 232 Healthcare/Senior Living](https://www.multifamily.loans/hud-232-loans/): FHA-insured financing for assisted living, skilled nursing, board and care, and intermediate care facilities
- [HUD 232/223(f)](https://www.multifamily.loans/hud-232-223f-loans/): Acquisition or refinance of existing healthcare and senior living facilities under the 232 program
- [HUD 232/223(a)(7)](https://www.multifamily.loans/hud-232-223a7-loans/): Streamlined refinance for existing HUD 232-insured healthcare facility loans
- [HUD 232 LEAN](https://www.multifamily.loans/hud-232-lean-loans/): Expedited processing for HUD 232 healthcare facility loans with faster approvals
- [HUD 241(a) Supplemental](https://www.multifamily.loans/hud-241a-loans/): Additional financing on top of existing HUD-insured first mortgages for repairs, additions, or improvements

## Other Loan Types

- [Bridge Loans](https://www.multifamily.loans/multifamily-bridge-loans/): Short-term financing for acquisitions, renovations, or repositioning before permanent financing
- [CMBS Loans](https://www.multifamily.loans/multifamily-cmbs-loans/): Non-recourse financing securitized into commercial mortgage-backed securities after closing
- [Construction Loans](https://www.multifamily.loans/multifamily-construction-loans/): Financing for ground-up development including HUD 221(d)(4) with long-term fully amortizing non-recourse terms, plus bank and bridge options
- [Mezzanine Financing](https://www.multifamily.loans/multifamily-mezzanine-financing/): Subordinate financing to increase total leverage beyond first mortgage limits
- [Preferred Equity](https://www.multifamily.loans/multifamily-preferred-equity/): Equity-layer financing that sits between the first mortgage and common equity in the capital stack
- [Hard Money Loans](https://www.multifamily.loans/multifamily-hard-money-loans/): Fast-close loans for borrowers with credit issues, legal complexities, or time-sensitive acquisitions
- [Bank Loans](https://www.multifamily.loans/multifamily-bank-loans/): Traditional bank financing for multifamily properties with relationship-based terms
- [Life Company Loans](https://www.multifamily.loans/multifamily-life-company-loans/): Conservative, low-rate financing from life insurance companies for stabilized properties
- [SBA 504 Loans](https://www.multifamily.loans/sba-504-loans-for-commercial-real-estate/): High-leverage financing for owner-occupied commercial real estate, fully amortizing with competitive rates
- [USDA 538 Loans](https://www.multifamily.loans/usda-538-loans/): High-leverage, long-term fully amortizing financing for qualified rural multifamily housing projects
- [Non-Recourse Loans](https://www.multifamily.loans/non-recourse-commercial-loans/): Loans where the lender's recourse is limited to the property itself, not the borrower's personal assets
- [Loans for Foreign Nationals](https://www.multifamily.loans/multifamily-loans-for-foreign-nationals/): Financing options for non-US citizens investing in American multifamily properties
- [Loans Under $1M](https://www.multifamily.loans/loans-under-1mm/): Small-balance multifamily financing for smaller properties and first-time investors
- [Commercial Pre-Approval](https://www.multifamily.loans/commercial-mortgage-pre-approval/): Get pre-approved before shopping for properties to strengthen your offers
- [Residential Portfolio/Blanket Loans](https://www.multifamily.loans/residential-portfolio-blanket-loans/): Single loan covering multiple residential investment properties
- [Lender Finance](https://www.multifamily.loans/lender-finance/): Financing solutions for mortgage lenders and originators

## Specialty Property Financing

- [Mobile Home Park Financing](https://www.multifamily.loans/mobile-home-park-financing/): Multiple financing options for manufactured housing communities from Fannie, Freddie, banks, and CMBS lenders
- [Student Housing](https://www.multifamily.loans/student-housing-financing/): Purpose-built and converted student housing near universities and colleges
- [Affordable Housing](https://www.multifamily.loans/affordable-housing-financing/): Loans from HUD, Fannie Mae, Freddie Mac, banks, and life companies for income-restricted properties
- [Healthcare Financing](https://www.multifamily.loans/health-care-financing/): Financing for assisted living, skilled nursing, memory care, and medical facilities
- [Fractured Condo](https://www.multifamily.loans/fractured-condo-financing/): Specialized financing for partially sold condominium projects operated as rentals

## Fix and Flip (7 guides)

- [Fix and Flip Loans Overview](https://www.multifamily.loans/fix-and-flip-loans/): Financing in many forms -- bank loans, hard money, HELOCs, cash-out refinancing for various project sizes
- [Fix and Flip Bridge Loans](https://www.multifamily.loans/fix-and-flip-bridge-loans/): Short-term bridge financing for purchase, renovate, and resell strategies
- [Fix and Flip Hard Money](https://www.multifamily.loans/fix-and-flip-hard-money-loans/): Asset-based lending with fast closings for experienced flippers
- [Fix and Flip Cash-Out Refinancing](https://www.multifamily.loans/fix-and-flip-cash-out-refinancing/): Pull equity from existing properties to fund new flips
- [Fix and Flip HELOCs](https://www.multifamily.loans/fix-and-flip-home-equity-lines-of-credit/): Home equity lines of credit for financing renovation projects
- [Fix and Flip Permanent Loans](https://www.multifamily.loans/fix-and-flip-permanent-loans/): Long-term financing after renovation is complete (BRRRR strategy)
- [Investment Property Lines of Credit](https://www.multifamily.loans/fix-and-flip-investment-property-lines-of-credit/): Revolving credit lines secured by investment property portfolios

## CRE Concepts & Glossary

- [Gross Rent Multiplier](https://www.multifamily.loans/gross-rent-multiplier/): How to calculate GRM (price divided by gross annual rental income) and what constitutes a good GRM for multifamily investments
- [Debt Coverage Ratio](https://www.multifamily.loans/debt-coverage-ratio/): How lenders use DCR (NOI divided by annual debt service) to determine if a property generates enough income to cover loan payments
- [Debt Service Coverage Ratio](https://www.multifamily.loans/debt-service-coverage-ratio/): DSCR calculation, minimum requirements by loan type, and how to improve your ratio
- [Debt Yield](https://www.multifamily.loans/debt-yield/): How lenders calculate debt yield (NOI divided by loan amount) as a leverage-neutral underwriting metric
- [LTV (Loan-to-Value)](https://www.multifamily.loans/ltv-loan-to-value-ratio/): Maximum LTV ratios by loan type -- how LTV limits vary across agency, HUD, bridge, and CMBS programs
- [LTC (Loan-to-Cost)](https://www.multifamily.loans/ltc-loan-to-cost-ratio/): Loan-to-cost ratio used for construction and value-add deals where appraised value doesn't yet reflect the investment plan
- [CLTV](https://www.multifamily.loans/cltv/): Combined loan-to-value ratio when multiple liens exist on a property, including mezzanine and supplemental loans
- [CapEx](https://www.multifamily.loans/capex/): Capital expenditures in multifamily -- major improvements like roof replacements, HVAC systems, and unit renovations vs routine maintenance
- [OpEx](https://www.multifamily.loans/opex/): Operating expenses in multifamily properties -- property management, insurance, taxes, utilities, repairs, and how they affect NOI
- [LIHTC](https://www.multifamily.loans/lihtc/): Low-Income Housing Tax Credit program -- how tax credits work, compliance requirements, and financing structures
- [Loan Constant](https://www.multifamily.loans/loan-constant/): Annual debt service as a percentage of total loan amount -- used to quickly compare financing options
- [Equity Multiple](https://www.multifamily.loans/equity-multiple/): Total cash distributions divided by total equity invested -- measures total return over the life of an investment
- [Gross Potential Rent](https://www.multifamily.loans/gross-potential-rent/): Maximum rental income if all units are occupied at market rates with zero vacancy or concessions
- [Gross Leasable Area](https://www.multifamily.loans/gross-leasable-area/): Total floor area available for tenant use in commercial properties, used for rent calculations and property comparisons
- [ADR (Average Daily Rate)](https://www.multifamily.loans/adr-average-daily-rate/): Key hospitality metric -- total room revenue divided by rooms sold, used in hotel and short-term rental underwriting
- [BPO (Broker Price Opinion)](https://www.multifamily.loans/bpo-broker-price-opinion/): Property valuation by a licensed broker, faster and cheaper than a full appraisal, often used for loan modifications and portfolio reviews
- [Bad Boy Carve-Outs](https://www.multifamily.loans/what-are-bad-boy-carve-outs/): Personal guaranty exceptions in non-recourse loans triggered by fraud, misrepresentation, environmental violations, or bankruptcy filing
- [Commercial Finance Lingo Guide](https://www.multifamily.loans/commercial-property-finance-lingo/): Comprehensive glossary of commercial real estate finance terminology from A to Z
- [TI/LC (Tenant Improvements/Leasing Commissions)](https://www.multifamily.loans/ti-lc-tenant-improvement-leasing-commissions/): Landlord costs for buildouts and broker commissions in commercial leases -- how they affect NOI and underwriting
- [Trailing Twelve Months](https://www.multifamily.loans/trailing-twelve-months/): T-12 financial statements showing actual property performance over the last 12 months, the standard for lender underwriting
- [Parking Ratio](https://www.multifamily.loans/parking-ratio/): Number of parking spaces per unit or per square foot -- affects property value, zoning compliance, and tenant demand
- [Credit Tenant Lease](https://www.multifamily.loans/credit-tenant-lease/): Properties leased to investment-grade tenants that qualify for specialized low-rate financing
- [Skin in the Game](https://www.multifamily.loans/skin-in-the-game/): Borrower equity requirements -- why lenders require meaningful equity and how it affects loan terms and approval

## Top Blog Posts (by organic traffic)

- [Multifamily Construction Costs: An Investor Guide](https://www.multifamily.loans/apartment-finance-blog/multifamily-construction-costs-an-investor-guide/): Detailed breakdown of per-unit and per-square-foot construction costs for apartment buildings by type, location, and size
- [Buying Your First Apartment Building](https://www.multifamily.loans/apartment-finance-blog/buying-your-first-apartment-building-an-investor-guide/): Step-by-step guide for first-time multifamily investors covering market selection, financing options, due diligence, and property management
- [Section 8 Investing: A Comprehensive Guide](https://www.multifamily.loans/apartment-finance-blog/section-8-investing-a-comprehensive-guide/): How Section 8 Housing Choice Vouchers work for landlords -- guaranteed rent payments, tenant screening, inspection requirements, and profitability analysis
- [How to Buy a Multifamily Property with No Money](https://www.multifamily.loans/apartment-finance-blog/how-to-buy-a-multifamily-property-with-no-money/): Creative financing strategies including seller financing, house hacking, partnerships, lease options, and government programs for zero-down acquisitions
- [Pros and Cons of Owning an Apartment Complex](https://www.multifamily.loans/apartment-finance-blog/what-are-the-pros-and-cons-of-owning-an-apartment-complex/): Balanced analysis of apartment investing -- cash flow, appreciation, and tax benefits vs management complexity, capital requirements, and market risk
- [More blog posts](https://www.multifamily.loans/apartment-finance-blog/): Covering every aspect of multifamily investing and financing

## Multifamily Minute (Video Series)

- [Multifamily Minute Archive](https://www.multifamily.loans/multifamily-minute/): Video episodes covering market trends, loan programs, and investing strategies

## Insurance Guides

- [Multifamily Insurance Overview](https://www.multifamily.loans/multifamily-insurance/)
- [All 50 State Insurance Guides](https://www.multifamily.loans/multifamily-insurance-guides/): State-by-state multifamily insurance requirements, costs, and coverage recommendations

## State & City Lending Guides

Coverage across all 50 states with city-level guides for major markets. Examples:
- [New York Multifamily Loans](https://www.multifamily.loans/new-york-multifamily-loans/)
- [California Multifamily Loans](https://www.multifamily.loans/california-multifamily-loans/)
- [Texas Apartment Loans](https://www.multifamily.loans/texas-apartment-loans/)
- [Florida Multifamily Loans](https://www.multifamily.loans/florida-multifamily-loans/)
- [Chicago Multifamily Loans](https://www.multifamily.loans/chicago-multifamily-loans/)
- [Miami Multifamily Loans](https://www.multifamily.loans/miami-multifamily-loans/)
- [Los Angeles Apartment Loans](https://www.multifamily.loans/los-angeles-apartment-loans/)
- [Dallas Multifamily Loans](https://www.multifamily.loans/dallas-multifamily-loans/)
- [Full list of city and state guides](https://www.multifamily.loans/guides/)

## Resources

- [Loan Documentation Checklist](https://www.multifamily.loans/loan-documentation-checklist/): Complete checklist of documents needed for commercial and multifamily loan applications -- financial statements, property docs, entity paperwork
- [Apartment Loan Forms & Templates](https://www.multifamily.loans/apartment-loan-forms-and-templates/): Downloadable forms and templates for multifamily loan applications and underwriting
- [FAQ](https://www.multifamily.loans/frequently-asked-questions/): Answers to common questions about multifamily financing, loan programs, rates, terms, and the application process
- [Video Library](https://www.multifamily.loans/video-library/): Educational videos covering loan programs, market analysis, and multifamily investing strategies
- [Leadership](https://www.multifamily.loans/leadership/): Meet the Janover team behind multifamily.loans

## About

Multifamily.loans is operated by JPro Labs LLC, a capital markets advisory firm with more than two decades of experience sourcing debt for multifamily and commercial properties across the U.S. CEO Blake Janover leads a team that has helped thousands of investors find financing through the marketplace.

- **Operator:** JPro Labs LLC
- **Headquarters:** 6401 Congress Ave, Ste 250, Boca Raton, FL 33487
- **Website:** https://www.multifamily.loans
- **Apply:** https://www.multifamily.loans/apply/
- **Contact:** https://www.multifamily.loans/contact/

For a full sitemap of all pages, see [sitemap.xml](https://www.multifamily.loans/sitemap.xml).