Prep for Agency Financing With Our Multifamily Loans.

A multifamily loan is financing used to acquire, reposition, or refinance a residential property with 10 or more rental units — think garden-style apartments, mid-rise buildings, and larger complexes. At Lima One, our multifamily loan products are built for investors who are buying, stabilizing, or renovating A and B class assets, with the goal of preparing that property for long-term agency financing.

A multifamily bridge loan is short-term financing that "bridges" the gap between buying or repositioning a property and refinancing it into permanent, long-term debt. Lima One's multifamily bridge loans are structured as interest-only, with 24- or 36-month terms, so you don’t have to carry the burden of amortized payments while you're stabilizing occupancy, improving operations, or completing value-add renovations.

Multifamily loan rates depend on factors like the property's class and condition, occupancy and cash flow (DSCR), your experience as an investor, leverage requested, and loan size. Rates may float during a loan because they are tied to SOFR.

Lima One underwrites practically and focuses on the quality of the deal and of the sponsor. We evaluate the sponsor’s liquidity, net worth, credit, experience, and exit strategy. We evaluate the property’s occupancy, rent potential, as-stabilized debt service, and debt yield.

Getting a multifamily loan with Lima One starts with an initial review of the deal. Lima One will analyze your deal based on property type, unit count, current occupancy, stabilization or value-add plan, and exit strategy to see if it’s a fit. From there, we’ll work closely with you to move through a letter of intent to loan submission and ultimately the closing table.

Our multifamily program is focused on bridge and mini-perm financing — acquiring, stabilizing, and repositioning existing A and B class assets to prep them for agency qualification.

Residential investment loans are financing used for smaller residential properties purchased for investment purposes, such as single-family rentals and small multifamily properties.

Multifamily loans are commercially underwritten, which means they focus on the property's financial performance as well as takeout financing plans, among other factors. For Lima One, Multifamily financing is available on properties with five or more units.

Multifamily residential real estate is generally defined across the lending industry as properties with five or more dwelling units. Lima One’s current Multifamily program can finance properties with 5+ units using term financing, with bridge financing available starting at 10+ units.