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10+ Unit Larger Multifamily DSCR

10+ Unit DSCR
Refinance.

DSCR refinance for stabilized 10+ unit multifamily assets. Larger loan sizes and faster execution than agency, tailored to sponsor and asset.

Quote My DealFull Loan Matrix
Program Snapshot
$500K
Min loan
$50M
Max loan
75%
Max LTV
0.9
Min DSCR
11 to 200 unit stabilized multifamily assets
Full recourse with personal guaranty
1 day property seasoning, no reserves seasoning on purchases
Program Overview

Larger DSCR.
Smarter Structures.

Worth Knowing
As Low as 1 Day Property Seasoning
On most cash out and rate-and-term refinances, we can close with as little as 1 day of property seasoning. Mention it when you reach out and we will confirm what applies to your deal.

At 11+ units the program shifts to a larger loan size and a deeper diligence package. Loans run $500K to $50M with step down prepay structures, full recourse, and 30 year fixed pricing as the default execution.

This is a refinance focused program. We finance acquisition on case by case basis, but the bulk of files are stabilized 10+ unit deals refinancing out of bridge, agency, or private debt into long term DSCR structures.

Our 10+ unit DSCR competes directly with Fannie Mae and Freddie Mac small balance executions on speed and simplicity. Often the smaller diligence package and faster timeline make this the right call even when agency is theoretically available.

Worth Knowing
No Reserves Seasoning on Purchases
On purchase files, reserve funds often do not need to be seasoned, which helps when capital was just moved between accounts before close.
Loan Matrix

The Numbers, Plainly

Program parameters for DSCR rental financing. Final pricing and structure determined by credit, property, and market underwriting.

Loan Amount
$500,000 to $50,000,000
Max LTV
75%Including cash out refinances
Min DSCR
0.9Calculated on actual rents net of vacancy and expenses
Loan Term
30 year fixed5, 7, 10 year hybrid options available
Amortization
30 year amortizing10 year interest only option available
Property Seasoning
As low as 1 dayOften avoids the typical 6 month cash out wait
Property Type
11 to 200 unitsGarden, mid rise, single asset or scattered site
Minimum Occupancy
NoneUnderwritten on actual NOI, not occupancy snapshot
Sponsor Experience
Not requiredPrior multifamily experience can help. First time sponsors often considered
Reserves Seasoning (Purchases)
Often noneReserve funds may not need to be seasoned
Recourse
Full recoursePersonal guaranty required on all files
Prepay Structure
Step down5/4/3/2/1 standard structure
Note: Matrix represents typical program parameters. Actual terms vary by state, property type, occupancy, and credit profile. Cash out limits, seasoning requirements, and reserves vary by transaction. A formal term sheet will reflect final terms after preliminary underwriting.
Eligible Property

Multifamily We Finance

11 to 25 Unit Garden

Mid sized garden apartments, where DSCR competes directly with Fannie and Freddie small balance.

25 to 75 Unit

Standard institutional multifamily with full diligence package and 30 year fixed permanent debt.

75 to 200 Unit

Mid rise and larger garden style assets. Largest file sizes we close on this program.

Scattered Site Portfolio

10+ smaller buildings aggregated under one execution with cross collateralization.

Bridge Takeout

Refinance out of value add or acquisition bridge debt into permanent DSCR.

Cash Out Refinance

Refinance a stabilized asset and pull equity. 1 day property seasoning.

Not eligible: Commercial ground up construction (we do not offer multifamily new construction).
Confirm your property
Who Uses It

Built for Multifamily Sponsors

From your first 12 unit acquisition to a $40M garden style refinance, the program structures across the lifecycle.

1

Value add syndicators

Bridge to acquire and stabilize, then refinance into agency permanent. Both legs quoted together up front.

2

Stabilized operators

Long term hold financing with 5, 7, 10, or 30 year fixed structures. Full recourse with personal guaranty.

3

First time sponsors

Strong key principal with property management experience accepted with reduced leverage.

4

1031 buyers

Bridge financing to meet identification and close deadlines, then permanent at stabilization.

How It Closes

Typical Timeline: About 60 Days

01
Week 1

Quote and LOI

Tell us about the property and what you are trying to do. We put together terms and work toward LOI from there.

02
Week 2 to 3

Diligence

Property condition, environmental, appraisal, title, insurance, and seismic where applicable.

03
Week 3 to 5

Underwriting

Sponsor review, asset underwriting, market analysis, credit committee.

04
Week 5 to 7

Close + Fund

Loan documents negotiated and signed. Wire on close date.

10+ Unit DSCR Questions

Frequently Asked

Do you offer agency loans directly?+
We arrange Fannie Mae and Freddie Mac small balance and conventional executions through correspondent relationships. For loans under $7.5M we typically lead with our portfolio program for speed; above that we run a parallel agency quote.
What is the minimum unit count?+
5 units. Below that, the asset falls under our DSCR program (1 to 4 unit) which is materially faster and simpler.
Can I finance a value add deal that is currently under 80% occupied?+
Yes, through our bridge program. We underwrite the deal on the value add thesis: pro forma rents, capital plan, and stabilization timeline. Bridge holds you until physical and economic occupancy support permanent debt.
Is this loan recourse or non recourse?+
Full recourse with a personal guaranty on all files. We do not offer limited or non recourse on this program. For non recourse executions at this loan size, agency programs (Fannie Mae or Freddie Mac small balance) are typically the better fit.
What about interest only periods?+
Common on bridge and agency executions. Stabilized agency offers up to 5 years of interest only on lower leverage files. Bridge is interest only throughout the term.
How do you handle student housing or affordable housing?+
Both eligible. Student housing requires university proximity and pre lease velocity data. Affordable requires compliance documentation for LIHTC, HUD, or Section 8 components.
Can I close in a Delaware Statutory Trust?+
Yes, common on 1031 deals. DST structuring is supported on agency and portfolio executions.
Related Programs

Other Programs

View all programs
Speed

Bridge

Fast close transition capital

Commercial

Commercial

Mixed use, retail, office

Long Term

DSCR Rental

1 to 4 unit long term rental

Get Started

Have a 10+ Unit Refinance?
Let us Quote It.

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