Northmarq Apartment Loans for Small and Mid-Size Buildings
Programs, agency designations and alternatives, from Northmarq's own materials and the agency rosters as of October 2026.
Northmarq is a Fannie Mae DUS lender, a Freddie Mac Optigo lender tagged for Conventional Small, and a HUD MAP lender. It is not on Fannie's Small Loan lender list, so its small-loan agency route is Freddie's Conventional Small, generally $2 million to $10 million. Its in-house Northmarq Edge platform targets loans of $5 million and up.
Who Northmarq is
Northmarq describes itself as one of the largest privately held commercial real estate firms in the United States, covering debt, equity, investment sales and loan servicing. Its about page states $91.3 billion of total transaction volume over 2022 through 2025 and an $80 billion servicing portfolio. Its Fannie Mae page states 27 years as a Fannie Mae DUS lender and $7.3 billion of Fannie Mae production volume over 2022 through 2025.
apartment.loans is not affiliated with Northmarq. Facts on this page come from Northmarq's public materials and agency lender rosters, as of October 2026.
What Northmarq publicly offers for 5+ unit loans
Northmarq holds the three main agency approvals: Fannie Mae DUS, Freddie Mac Optigo across all four business lines, and HUD MAP. For a smaller apartment loan, one detail matters. As of October 2026, Northmarq is not on Fannie Mae's Small Loan lender list, and its Fannie Mae page does not describe a small-loan product or a size range. Its Freddie Mac Optigo listing does include Conventional Small, the Freddie channel for loans of generally $2 million to $10 million (up to 80% LTV, minimum 1.25x DSCR, 50 units or fewer, as Freddie states the terms). We did not find a dedicated small-balance page or a Northmarq-published Conventional Small term sheet.
Northmarq also lends from its own platform. In an August 2026 release it described Northmarq Edge, its in-house lending platform, as targeting multifamily and commercial loans from $5 million to more than $100 million, including stretch-permanent, senior and bridge loans. That is balance-sheet debt, separate from the agency programs.
In practice: for a $2 million to $10 million stabilized loan, the agency route at Northmarq is Freddie Conventional Small. For a loan under $2 million, or a Fannie Small Loan specifically, look at lenders on Fannie's Small Loan list.
Agency designations
| Roster | Listed as | Status, October 2026 |
|---|---|---|
| Fannie Mae DUS | Northmarq | DUS lender |
| Fannie Mae Small Loans | Not listed | Not on the Small Loan lender list |
| Freddie Mac Optigo | Northmarq Capital LLC | Conventional, Conventional Small, Seniors Housing, Targeted Affordable Housing |
| HUD MAP | NorthMarq Finance, LLC | Approved MAP lender |
Rosters: Fannie Mae DUS lenders, Freddie Mac Optigo lenders, and HUD's Approved MAP Lenders list.
How to get a quote from Northmarq
Northmarq's site has a rates and spreads page and contact forms; we found no self-serve quote tool. Say up front which execution you want priced (Freddie Conventional Small, Fannie DUS, HUD, or Northmarq Edge) so the quote is comparable to others you collect.
Going direct vs comparing several lenders
Going direct gets you Northmarq's read of your building and its pricing on the executions it offers. A marketplace sends the same loan request to several lenders and shows their terms side by side. apartment.loans, run by Janover Capital LLC, works that way: one request, several lenders' terms, across agency, bank, HUD and bridge options. Janover is not a lender. Compare the quotes you collect in the term sheet comparison. More: direct lender vs loan marketplace.
Alternatives to compare
- Fannie Mae Small Loan lenders: 12 lenders, including Walker & Dunlop, Arbor, Berkadia, Greystone and Lument. See the DUS lender list.
- Side-by-side view: small balance lenders compared.
- Bridge debt from other sources: see apartment bridge loans, and test the exit with the bridge takeout test.
- HUD 223(f): see HUD 223(f) loans.
Frequently asked questions
Is Northmarq a Fannie Mae Small Loan lender?
No, as of October 2026 Northmarq is a Fannie Mae DUS lender but does not appear on Fannie's separate Small Loan lender list. Its Freddie Mac Optigo listing includes Conventional Small, which covers loans of generally $2 million to $10 million, so that is its agency small-loan route.
What is Northmarq Edge?
Northmarq Edge is Northmarq's in-house lending platform. In an August 2026 release, Northmarq said it targets multifamily and commercial real estate loans from $5 million to more than $100 million, including stretch-permanent, senior and bridge loans. It is separate from Northmarq's Fannie Mae, Freddie Mac and HUD lending.
Is Northmarq a HUD lender?
Yes. NorthMarq Finance, LLC is on HUD's Approved MAP Lenders list dated September 16, 2026. MAP approval allows a lender to originate FHA-insured apartment loans, including HUD 223(f) refinances and purchases of existing buildings. HUD loans generally take longer to close than agency or bank loans, so plan the timeline around your maturity date.
Does Northmarq lend on small apartment buildings?
Through Freddie Mac Conventional Small, Northmarq can finance stabilized buildings of 50 units or fewer with loans of generally $2 million to $10 million. We did not find a dedicated small-balance page or a published Northmarq size minimum. For loans under $2 million, Fannie Small Loan lenders, banks and credit unions are the usual comparisons.
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