The nation's #1 source for apartment financing

Fannie Mae Apartment Loans

Fannie Mae apartment loans generally start at $1 million for Fannie Mae Small Loans, and can go up to $100 million+. Fannie’s loans are popular for a variety of reasons, including the fact that they are generally non-recourse, offer very low interest rates and can provide flexible terms between 5 and 30 years, with amortizations up to 30 years. In 2025, Fannie Mae provided approximately $74 billion in multifamily financing, its largest annual volume since 2020. Fannie also offers improved loan terms for environmentally friendly properties through its green financing programs.

Freddie Mac Apartment Loans

Like Fannie Mae apartment loans, Freddie Mac apartment loans start at $2 million (Conventional Small, which replaced the Small Balance Loan program in April 2026) and can go up to $100 million+. Similar to Fannie’s loan products, Freddie Mac apartment loans are typically non-recourse and offer terms between 5 and 20 years, with amortizations up to 30 years. In 2025, Freddie Mac's multifamily production topped $77.6 billion, up 17% year over year, including substantial affordable and workforce housing volume. In addition to standard apartment loans, both Fannie and Freddie also offer financing for senior living and healthcare properties, including nursing homes.

HUD/FHA Apartment Loans

Non-recourse HUD/FHA apartment loans are typically considered the cream of the crop for multifamily investors, and for a good reason. They generally offer the lowest fixed-rate terms in the entire business, with fully amortizing loan terms of up to 40 years (for HUD 221(d)(4) construction loans). Just like Fannie and Freddie, HUD also offers loans for senior living and healthcare assets, such as nursing homes and assisted living facilities. While HUD apartment loans offer some fantastic benefits, these loans do require financially strong borrowers with high net worths. So these products aren’t the right fit for every investor.

CMBS Apartment Loans

CMBS apartment loans can be an excellent choice for multifamily investors, particularly those which may not be able to acquire other types of financing due to credit or legal issues. CMBS loans, also referred to as conduit loans, are typically offered with 5, 7, or 10-year terms. CMBS apartment financing also provides more flexibility in the sense that it permits cash-out for eligible borrowers, as well as allowing borrowers to procure financing for fully commercial or mixed-use properties.

Bank Apartment Loans

While bank apartment loans aren’t always the first choice we recommend to our clients, they can be a great option in many situations. While most bank apartment loans do contain some form of recourse, banks (particularly local ones) can often offer flexibility in other areas, such as rates, terms or prepayment provisions, in ways that agency or CMBS lenders cannot.

Apartment Construction Loans

Apartment construction loans can be more difficult to obtain than financing for a typical purchase or refinance transaction, as they present a higher risk for lenders. However, that doesn’t mean you can’t achieve excellent terms. From the aforementioned HUD 221(d)(4) loan to traditional bank construction financing, our team will negotiate with a variety of apartment construction lenders in order to find the loan product that best fits your individual needs.

Bridge Loans for Apartment Properties

While apartment bridge loans aren’t a permanent solution, sometimes a borrower needs temporary financing in order to complete an apartment rehabilitation project or to overcome credit or legal issues. While bridge loans are generally more costly than other types of apartment loans, they can still offer certain advantages; for one, they are typically interest-only (I/O), which allows borrowers to expend less capital during the loan term. In most cases, borrowers will seek out a bridge loan with the intention of either selling or refinancing the property quickly. Most bridge loans offer terms between 6 months and 2 years.

Life Company Apartment Loans

Life companies offer some of the lowest interest rates on the market today. Sometimes even lower than HUD apartment loans. However, life companies have stringent lending requirements and typically only lend to borrowers with Class A assets in top markets. Life company apartment loans are generally non-recourse and are often fully amortizing, with fixed-rate terms usually varying between 10 and 25 years.

Mezzanine Apartment Loans

In some situations, a traditional, first-position apartment loan isn’t enough and a borrower needs additional financing in the form of a mezzanine loan or a preferred equity placement on top of their original loan. At Apartment.loans, our team is well-versed in these types of transactions and can help negotiate with both a senior lender and a mezzanine lender in order to develop a solution that will benefit all parties involved (but especially you, our client).