# Apartment.loans > Apartment.loans is part of Janover Capital LLC (not a lender). It helps owners of apartment buildings with five or more units refinance, take cash out, buy or build, with loans of $1 million and up, by comparing Fannie Mae, Freddie Mac, HUD/FHA, bank, CMBS, life company and bridge lenders. Every program term on the site is checked against primary sources (Fannie Mae, Freddie Mac, HUD, the Federal Register); market rates are pulled live from the U.S. Treasury and the New York Fed and never typed. Contact: desk@janover.co · (561) 556-9997 · 6401 Congress Ave., Ste. 250, Boca Raton, FL 33487 Financing requests: https://apartment.loans/get-financing/ Machine access: REST https://apartment.loans/api/apartment-loan/{tool} · MCP (streamable HTTP) https://apartment.loans/mcp · docs https://apartment.loans/developers/ Full text for AI systems: https://apartment.loans/llms-full.txt ## Refinance (start here) - [Apartment Refinance](https://apartment.loans/apartment-refinance/): Refinancing an apartment building means replacing the current mortgage with a new loan sized on the property's income and appraised value. The lender lends the lowest of three limits: loan-to-value, debt service coverage and, for some lenders, debt yield. Agency, HUD 223(f), bank, CMBS, life company and bridge loans each fit a different property and owner. - [Apartment Cash-Out Refinance](https://apartment.loans/apartment-cash-out-refinance/): In an apartment cash-out refinance, the lender sizes the new loan at the lowest of its LTV, DSCR and debt yield limits. Your cash is that loan minus the payoff, any prepayment cost, closing costs and reserves. Agency programs publish up to 80% LTV at 1.25x DSCR; HUD 223(f) caps cash-out at 80% of value or the cost to refinance. - [Apartment Loan Maturity Playbook](https://apartment.loans/apartment-loan-maturity/): When an apartment loan nears maturity you have five options: refinance, extend the current loan, pay the balance down so a smaller loan covers it, add a supplemental loan if maturity is still years away, or sell. Size a refinance against your payoff about a year out; the result decides which options remain. - [Refinancing an Apartment Bridge Loan](https://apartment.loans/refinance-apartment-bridge-loan/): A bridge loan refinances into permanent debt when the stabilized property sizes a permanent loan at least equal to the bridge payoff, including any exit fee. That takes seasoned occupancy, underwritten NOI that meets the minimum DSCR at the takeout rate, and an appraisal that supports the payoff at the maximum LTV. - [Apartment Refinance Requirements](https://apartment.loans/apartment-refinance-requirements/): To refinance a 5+ unit apartment building, the property must be stabilized and the loan must pass the program's LTV and DSCR limits. Fannie Mae Small Loans: up to $9 million, 80%, 1.25x. Freddie Mac Conventional Small: 5 to 50 units, 75% to 80%, 1.25x. HUD 223(f): 87% and 1.15x on market-rate properties. - [Apartment Refinance Timeline](https://apartment.loans/apartment-refinance-timeline/): An apartment refinance runs in a fixed order: size the loan, assemble the rent roll and financials, collect quotes, sign an application, complete the appraisal and reports, underwrite, lock the rate, get the commitment and close. Lenders rarely publish durations; speed depends on your package and the loan type. - [Apartment Refinance Closing Costs](https://apartment.loans/apartment-refinance-closing-costs/): Apartment refinance closing costs include the lender's origination and application fees, the appraisal, property condition and environmental reports, lender and borrower legal fees, title insurance, survey, recording costs and any rate lock deposit, plus upfront escrows and reserves. Most are quoted deal by deal. HUD publishes its fees: a 0.30% application fee and 0.25% upfront mortgage insurance on 223(f). - [Apartment Loan Prepayment Penalties](https://apartment.loans/apartment-loan-prepayment-penalty/): Apartment loans use four exit structures: yield maintenance, which charges the present value of the lender's lost interest measured against Treasury yields; defeasance, which replaces the property with Treasury securities that make the remaining payments; a step-down percentage of the balance; and an open window near maturity with no charge. Your note sets the formula; your servicer quotes the figure. - [Refinancing a Bank Loan Into Agency Debt](https://apartment.loans/refinance-bank-loan-to-agency/): Moving from a recourse bank loan to Fannie Mae or Freddie Mac debt usually removes your personal guaranty of the balance, lengthens the fixed-rate term and amortization, and drops bank covenants. In exchange you fund tax, insurance and replacement reserve escrows, accept a stricter prepayment structure, sign standard bad-boy carve-out guaranties, and report financials to a servicer. The building must be stabilized and the sponsor must meet net worth and liquidity tests. - [When Your Apartment Refinance Won't Size](https://apartment.loans/apartment-refinance-low-dscr/): When an apartment refinance won't size, the debt service coverage limit is almost always the cause: today's rate makes the payment too large for your NOI. The fixes are bringing cash to pay down the loan, a longer amortization or HUD 223(f)'s lower DSCR, subordinate debt or preferred equity, extending the current loan while you raise NOI, or a bridge loan. Each trades cost, time or control for loan proceeds. - [When to Refinance an Apartment Building](https://apartment.loans/when-to-refinance-an-apartment-building/): Refinance an apartment building when four things line up: you are inside your planning window before maturity, your prepayment cost is low or zero, your NOI is at a level a lender will underwrite, and the new loan serves a goal such as cash out, a lower payment, or removing recourse. Rate forecasts should not drive the date. - [Extending or Modifying an Apartment Loan](https://apartment.loans/apartment-loan-extension/): An apartment loan extension comes either from an option already in your loan documents, which you exercise by meeting stated tests, or from a negotiated modification. In return lenders typically ask for a paydown, a fee, a higher rate or new rate cap, added reserves, and cash management. CMBS loans go through a special servicer. - [Apartment Refinance Rates](https://apartment.loans/apartment-refinance-rates/): An apartment refinance rate is a market index plus a spread. Fixed-rate loans price off the Treasury yield that matches the loan's term; floating-rate loans price off SOFR. The spread depends on leverage, debt service coverage, loan size, property and market, prepayment terms and the lender's own costs. Two quotes can differ because any one of those differs. - [Apartment Refinance Checklist](https://apartment.loans/apartment-refinance-checklist/): To refinance a 5+ unit apartment building, assemble four groups of documents: property financials (T-12, rent roll, tax and insurance bills), property information, sponsor and entity documents (org chart, operating agreement, personal financial statement, real estate schedule), and current loan details including a payoff quote. The lender orders the appraisal and other third-party reports, then title and closing documents follow. ## Free calculators and tools (run in the browser, shareable, embeddable) - [Apartment Refinance Checklist](https://apartment.loans/apartment-refinance-checklist/): To refinance a 5+ unit apartment building, assemble four groups of documents: property financials (T-12, rent roll, tax and insurance bills), property information, sponsor and entity documents (org chart, operating agreement, personal financial statement, real estate schedule), and current loan details including a payoff quote. The lender orders the appraisal and other third-party reports, then title and closing documents follow. - [Apartment Loan Maturity Planner](https://apartment.loans/apartment-loan-maturity-planner/): The maturity planner takes your loan's maturity date, the loan you plan to refinance into and whether your note has an extension option, then works backward to dated milestones: start, quotes, application, third-party reports, rate lock and closing. It marks your plan on track, tight or late and exports each milestone as a calendar file. - [Which Apartment Loan Fits Your Building?](https://apartment.loans/which-apartment-loan/): Answer six questions: unit count, occupancy, loan size, how much personal recourse you will accept, how long you plan to hold, and whether you plan to renovate. The matcher removes programs whose published limits you break, ranks the rest by fit, and gives the reason each program fits or fails your building. - [Apartment Cash-Out Refinance Calculator](https://apartment.loans/apartment-cash-out-refinance-calculator/): Net cash out equals the new loan minus your current payoff, prepayment cost, closing costs and upfront reserves. The new loan is the lower of two limits: the maximum loan-to-value times appraised value, and the loan whose payment your NOI covers at the lender's minimum DSCR. Whichever limit is lower binds, and it sets your cash. - [Apartment Loan Eligibility Checker](https://apartment.loans/apartment-loan-eligibility-checker/): The eligibility checker compares eight facts about your deal (units, occupancy, months at that occupancy, loan amount, DSCR, LTV, sponsor net worth and liquidity) with each program's published criteria. Each line returns pass, fail or check with the lender, the last for criteria that programs leave to lender judgment. - [Bridge-to-Agency Takeout Calculator](https://apartment.loans/bridge-to-agency-takeout-calculator/): The calculator sizes the permanent loan your stabilized building supports, the lower of the LTV and DSCR limits, and compares it with your bridge payoff including the exit fee. It returns the shortfall or surplus, the NOI needed to clear the payoff, and the highest rate at which the takeout still works. - [Apartment Refinance Break-Even Calculator](https://apartment.loans/apartment-refinance-break-even-calculator/): The break-even calculator compares paying your prepayment cost to refinance now with waiting until your loan's open window. It takes your balance, current rate, months to the open window, prepayment cost, new rate and closing costs, and returns the monthly interest difference, the months it takes to recoup the cost, and the net cost of refinancing now versus waiting. - [Apartment Refinance Closing Cost Estimator](https://apartment.loans/apartment-refinance-closing-cost-estimator/): The estimator lists each cost of refinancing a 5+ unit apartment building: lender and application fees, appraisal, property condition report, Phase I environmental report, both sides' legal, title, survey, rate lock and upfront reserves and escrows. You edit each line to your quotes and it totals them in dollars and as a percent of the loan. - [Extend, Refinance or Sell Calculator](https://apartment.loans/extend-refinance-or-sell-calculator/): When an apartment loan matures you can extend it, refinance it, or sell. This calculator projects all three over five years from your value, NOI, growth rate, current loan, extension terms, refinance rate, sale costs and exit cap rate, then shows the pre-tax cash each path puts in your pocket so you can see which one wins. - [Apartment Rent Roll Analyzer](https://apartment.loans/apartment-rent-roll-analyzer/): Paste or upload your apartment rent roll and this analyzer calculates physical and economic occupancy, loss-to-lease, concessions, delinquency, the next 12 months of lease expirations, the month-to-month share and the unit mix, then flags the items lenders ask about. It runs entirely in your browser; the file is never uploaded to any server. - [T-12 Underwriting Calculator](https://apartment.loans/apartment-t12-underwriting-calculator/): Lenders rarely use the NOI on your T-12. They apply their own vacancy, a minimum management fee, replacement reserves and higher taxes and insurance, so underwritten NOI is usually lower. This calculator takes your T-12 lines, applies those adjustments, and shows the difference and how much smaller the loan gets at the lender's minimum DSCR. - [Apartment Loan Term Sheet Comparison](https://apartment.loans/apartment-term-sheet-comparison/): To compare apartment loan quotes, put them on the same basis: annual debt service, fees and other costs spread over your expected hold, and the prepayment terms if you sell or refinance early. This tool takes two to four quotes and shows annual debt service, effective annual cost, total cost over your hold and a flexibility note for each. - [Apartment DSCR Sensitivity Calculator](https://apartment.loans/apartment-dscr-sensitivity-calculator/): A DSCR sensitivity grid recalculates your debt service coverage ratio, and the maximum loan at the lender's minimum DSCR, across a range of interest rate moves and NOI changes. Enter NOI, loan amount, rate, amortization and minimum DSCR to see which combinations pass, which fail, and how much loan each scenario supports. - [Value-Add Apartment Loan Calculator](https://apartment.loans/value-add-apartment-loan-calculator/): A value-add apartment deal usually uses a bridge loan sized to a percent of purchase price plus renovation, then refinances into permanent debt once the renovated building stabilizes. This calculator sizes the bridge, adds interest carry, sizes the takeout on stabilized NOI by DSCR and LTV, and shows whether the takeout repays the bridge or needs more equity. - [Apartment Property Tax Reassessment Calculator](https://apartment.loans/apartment-property-tax-reassessment-calculator/): In many states a sale resets a building's assessed value toward the purchase price, so the buyer's property tax can be far higher than the seller's. This calculator estimates post-sale tax from price, effective tax rate and assessment ratio, compares it to the current bill, and shows the hit to NOI. Lenders underwrite the reassessed tax, not the seller's. - [Construction Interest Reserve Calculator](https://apartment.loans/construction-interest-reserve-calculator/): A construction interest reserve is the budget line that pays the loan's interest until the building earns enough to pay it. Because a construction loan funds in draws, interest builds slowly, then runs on the full balance through lease-up. This calculator models monthly draws on a straight-line or S-curve and adds the lease-up months at full balance. - [Apartment Refinance Calculator](https://apartment.loans/apartment-refinance-calculator/): Size an apartment refinance the way lenders do: LTV, DSCR and debt yield side by side, the binding limit, and the… ## Lenders and comparisons - [Apartment Lenders](https://apartment.loans/apartment-lenders/): Apartment loans of $1 million and up come from Fannie Mae DUS and Freddie Mac Optigo lenders, banks and credit unions, life insurance companies, CMBS conduits, debt funds and bridge lenders, and HUD MAP lenders, plus brokers and marketplaces that place loans with them. Stabilized buildings usually go agency or bank; buildings in transition usually start with bridge debt. - [Fannie Mae DUS Lenders](https://apartment.loans/fannie-mae-dus-lenders/): As of October 2026, Fannie Mae lists 24 DUS (Delegated Underwriting and Servicing) lenders. Eleven of them also appear on Fannie's Small Loan lender list for loans up to $9 million, along with one non-DUS Small Loan lender, CPC Mortgage Company. You cannot apply to Fannie Mae directly: you apply through one of these lenders. - [Freddie Mac Optigo Lenders](https://apartment.loans/freddie-mac-optigo-lenders/): As of October 2026, Freddie Mac lists 26 Optigo lenders. Twenty-four carry the Conventional Small designation, the channel for loans of generally $2 million to $10 million that replaced Small Balance Loans on April 15, 2026. Designations differ by lender, so check that a lender is approved for the business line your loan needs before you apply. - [Small Balance Apartment Lenders Compared](https://apartment.loans/small-balance-apartment-lenders-compared/): Of seven large names in small-balance apartment lending, six (Walker & Dunlop, Arbor, Berkadia, Greystone, Lument and Northmarq) hold Fannie Mae DUS, Freddie Mac Optigo Conventional Small and HUD MAP approvals; five are also Fannie Small Loan lenders. Marcus & Millichap Capital is an intermediary that reaches agency programs through M&T Realty Capital. None publishes an instant online quote. - [Walker & Dunlop Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/walker-dunlop/): Walker & Dunlop is a Fannie Mae DUS and Small Loan lender, a Freddie Mac Optigo lender tagged for Conventional Small, and a HUD MAP lender. Its small balance page markets Fannie Mae Small Loans from $1 million, with reduced processing up to $9 million. Quotes start with a multi-step online form followed by staff contact. - [Arbor Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/arbor/): Arbor is a Fannie Mae DUS and Small Loan lender, a Freddie Mac Optigo lender tagged for Conventional Small, and a HUD MAP lender. Its Small Loans page says it specializes in $1 million to $9 million loans; its Fannie Small Loan term sheet starts at $750,000 and its Freddie Conventional Small sheet runs generally $2 million to $10 million. - [Berkadia Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/berkadia/): Berkadia is a Fannie Mae DUS and Small Loan lender, a Freddie Mac Optigo lender tagged for Conventional Small, and a HUD MAP lender. Its Small Loans page offers Fannie Mae and Freddie Mac small loans up to $9 million. That page still names Freddie's Small Balance Loans, which Freddie replaced with Conventional Small on April 15, 2026. - [Greystone Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/greystone/): Greystone is a Fannie Mae DUS and Small Loan lender, a Freddie Mac Optigo lender tagged for Conventional Small, and a HUD MAP lender through two entities. Its term sheets offer Fannie Mae Small Mortgage Loans up to $9 million and Freddie Mac Conventional Small loans of $2 million to $10 million, each with a 1.25x minimum DSCR. - [Lument Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/lument/): Lument, a subsidiary of ORIX Corporation USA, is a Fannie Mae DUS and Small Loan lender, a Freddie Mac Optigo lender tagged for Conventional Small, and a HUD MAP lender. Its 2026 term sheets offer Fannie Mae Small Loans up to $9 million and Freddie Mac Conventional Small loans of generally $2 million to $10 million. - [Northmarq Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/northmarq/): 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. - [Marcus & Millichap Capital Apartment Loans for Small and Mid-Size Buildings](https://apartment.loans/apartment-lenders/marcus-millichap-capital/): Marcus & Millichap Capital Corp. (MMCC) is a financial intermediary, not a lender: its parent's annual report says it earns fees placing loans with banks, credit unions, agencies, conduits and debt funds. MMCC is not on Fannie Mae, Freddie Mac or HUD rosters itself; its agency access runs through an alliance with M&T Realty Capital Corporation. - [Compare Apartment Loan Options](https://apartment.loans/compare/): For a stabilized 5+ unit building, the choice is usually agency debt (Fannie Mae or Freddie Mac), a bank loan, HUD 223(f), CMBS or a life company. Agency and HUD loans are non-recourse and long-term; banks are flexible but usually recourse; CMBS takes harder assets; life companies want low leverage. Hold period, recourse and occupancy decide it. - [Direct Lender vs Loan Marketplace](https://apartment.loans/compare/direct-lender-vs-loan-marketplace/): Going directly to one lender is simpler, keeps one relationship and avoids a broker fee, but you see only that lender's pricing. A broker or marketplace collects several lenders' terms on the same numbers, showing real differences in sizing and prepayment, but adds a party and possibly a fee. How a broker is paid varies and should be disclosed. - [Fannie Mae Small Loans vs Bank Loans](https://apartment.loans/compare/fannie-mae-small-loans-vs-bank-loans/): A Fannie Mae Small Loan goes up to $9 million on stabilized 5+ unit buildings, with 5- to 30-year terms, up to 80% LTV, a 1.25x minimum DSCR and non-recourse execution. A bank loan is usually shorter and often recourse, but easier to change and cheaper to exit. Long holds favor Fannie; short holds favor the bank. - [Agency vs CMBS Apartment Loans](https://apartment.loans/compare/agency-vs-cmbs-apartment-loans/): Agency loans from Fannie Mae and Freddie Mac are the usual choice for stabilized 5+ unit buildings: they typically size and price well and stay with one servicer. CMBS conduit loans are pooled into a trust with a master and special servicer, usually exit by defeasance or yield maintenance, and fit buildings, markets or sponsors that agency lenders decline. - [HUD 223(f) vs Fannie Mae](https://apartment.loans/compare/hud-223f-vs-fannie-mae/): HUD 223(f) allows up to 87% LTV and a 1.15x minimum DSCR on market-rate apartments, and 90% and 1.11x on affordable or heavily rent-assisted properties, plus 0.25% upfront and annual mortgage insurance. Fannie Mae Small Loans allow 80% and 1.25x up to $9 million. HUD usually lends more; Fannie usually closes sooner. - [Life Company vs Agency Apartment Loans](https://apartment.loans/compare/life-company-vs-agency-apartment-loans/): Life insurance companies lend their own capital and keep the loan, so they can negotiate terms an agency program cannot, but they usually want lower leverage, strong locations and experienced sponsors. Fannie Mae and Freddie Mac small-loan programs allow up to 80% LTV and take a wider range of buildings. Low leverage on a quality asset favors the life company. - [Fixed vs Floating Apartment Loans](https://apartment.loans/compare/fixed-vs-floating-apartment-loans/): A fixed-rate apartment loan is priced over the Treasury yield matching its term and locks your payment, but usually costs more to leave early. A floating-rate loan is priced over SOFR, moves with short-term rates, usually needs an interest rate cap and is often cheaper to prepay. Long holds favor fixed; short or uncertain holds favor floating. ## Purchase and construction - [Apartment Purchase Loans](https://apartment.loans/apartment-purchase-loans/): A stabilized apartment building is usually bought with a fixed-rate agency, bank or HUD loan sized at up to 75-80% of the lower of price or value, subject to a minimum DSCR, often 1.25x. A building that needs work is usually bought with a bridge loan and refinanced into permanent debt once rents and occupancy stabilize. - [How to Purchase an Apartment Property](https://apartment.loans/how-to-purchase-an-apartment-property/): A detailed step-by-step guide for first time investors on purchasing a multifamily apartment building. - [Apartment Bridge Loans](https://apartment.loans/apartment-bridge-loans/): Bridge loans are ideal for repositioning a property so as to get competitive permanent financing or sell the asset… - [Construction Loans](https://apartment.loans/construction-loans/): Loan options for apartment construction include HUD/FHA apartment loans, bank construction loans, bridge loans, and… ## Loan programs - [Fannie Mae Apartment Loans](https://apartment.loans/fannie-mae/): Fannie Mae apartment loan requirements: up to 80% LTV, 1.25x minimum DSCR, 5- to 30-year terms, non-recourse. Small… - [Fannie Mae Multifamily Small Loan Program](https://apartment.loans/fannie-mae-multifamily-small-loan-program/): The Fannie Mae Multifamily Small Loan program is a strong option for small apartment financing between $1 million… - [Freddie Mac Apartment Loans](https://apartment.loans/freddie-mac/): Freddie Mac apartment loan requirements: up to 80% LTV, 1.25x minimum DSCR, non-recourse. Conventional Small ($2… - [HUD Apartment Loans](https://apartment.loans/hud-fha-apartment-loans/): The Department of Housing and Urban Development offers some of the lowest-rate and longest-term apartment loans in… - [HUD 223(f) Loans](https://apartment.loans/hud-223-f-loans/): In today's market, the HUD 223(f) loan is one of the most cost-effective methods to purchase or refinance a… - [HUD 221(d)(4) Loans](https://apartment.loans/hud-221-d-4-loans/): The HUD 221(d)(4) is HUD's flagship loan for the construction and rehabilitation of large multifamily properties.… - [Bank Loans](https://apartment.loans/bank-loans/): Bank loans for apartment properties can offer high leverage, low rates, and highly flexible loan terms. - [CMBS Loans](https://apartment.loans/cmbs-apartment-loans/): CMBS loans provide non-recourse, high leverage financing for apartment buildings and multifamily properties. - [Life Company Apartment Loans](https://apartment.loans/life-company-apartment-loans/): For apartment properties, Life Companies offer an interesting alternative to Fannie Mae and Freddie Mac financing,… - [Mezzanine Financing for Apartment Properties](https://apartment.loans/mezzanine-financing/): Mezzanine Financing is the middle ground between debt and equity financing. ## Data, downloads and reference - [Apartment Loan Data](https://apartment.loans/apartment-loan-data/): Apartment loan rates are built from a market index plus a lender spread. Fixed-rate agency and CMBS loans are priced off the Treasury yield that matches the loan term, most often the 10-year. Floating-rate loans, including most bridge loans, are priced off SOFR. Bank loans may use Treasuries, SOFR or prime. The table on this page shows today's prints. - [Apartment Loan Maturities](https://apartment.loans/apartment-loan-data/maturities/): The Mortgage Bankers Association reported in February 2026 that 13% of multifamily-backed mortgage balances were scheduled to mature in 2026, within $875 billion of all commercial and multifamily maturities. Maturities concentrated at banks, CMBS and debt funds; only 4% of agency balances were due. MBA put 2027 maturities at $652 billion. - [Apartment Finance Due Diligence Resources](https://apartment.loans/apartment-loan-due-diligence-resources/): A collection of helpful downloadable documents, forms, and templates for the due diligence on an apartment property… - [Apartment Loan Glossary](https://apartment.loans/glossary/): This glossary defines the terms owners of 5+ unit apartment buildings meet when they refinance or buy: sizing terms such as DSCR, LTV and debt yield, pricing terms such as SOFR and spread, and loan-document terms such as yield maintenance, defeasance, recourse carve-outs and rate caps. Each entry links to a full explanation. - [How We Verify](https://apartment.loans/how-we-verify/): apartment.loans takes program terms only from primary sources such as Fannie Mae, Freddie Mac, HUD and the Federal Register. Market rates are pulled automatically from the U.S. Treasury and the New York Fed, never typed. Calculators are tested against fixed worked examples before release, and pages show an updated date only when their content actually changes. - [Apartment Loan API and MCP Server](https://apartment.loans/developers/): apartment.loans publishes a free REST API at /api/apartment-loan/{tool} and an MCP server at /mcp. Both run the same engine as the site's calculators: loan sizing by LTV, DSCR and debt yield, program comparison, cash-out, bridge takeout, break-even, maturity timelines and eligibility screening. ## Notes - Operated by Janover Capital LLC. Not a lender; no affiliation with HUD, FHA, Fannie Mae, or Freddie Mac. - Freddie Mac launched Conventional Small ($2M-$10M, 5-50 units) on April 15, 2026 to replace Small Balance Loans; SBL applications were accepted through April 30, 2026. - State and city apartment-loan guides exist for most U.S. states and major cities at /-apartment-loans/.