Multifamily Debt Sizer
NOI + appraised value → max loan across HUD, Fannie, Freddie, CMBS, bank, bridge. 3-constraint test per program (DSCR / LTV / Debt Yield). May 2026 rates.
| Program | Rate | Max Loan | Binding | By DSCR / LTV / DY |
|---|---|---|---|---|
| HUD 223(f) | 5.40% | $20.00M | Debt Yield | $20.04M / $21.25M / $20.00M |
| Fannie Mae DUS | 5.60% | $17.42M | DSCR | $17.42M / $20.00M / $20.00M |
| Freddie Mac Optigo | 5.65% | $17.32M | DSCR | $17.32M / $20.00M / $20.00M |
| CMBS Multifamily | 5.85% | $16.95M | DSCR | $16.95M / $18.75M / $20.00M |
| Bank Portfolio | 6.85% | $13.79M | DSCR | $13.79M / $18.75M / $18.75M |
| Multifamily Bridge | 9.50% | $14.35M | DSCR | $14.35M / $18.75M / $17.65M |
May 2026 indicative rates. HUD 223(f) prices tightest but adds 6-9 month timeline + MAP sponsor approval + MIP fee. Agency (Fannie/Freddie) is the institutional default. CMBS adds cash-out flexibility. Bridge for value-add transitions.
About these figures
Rate, spread, leverage and term levels shown here are indicative. They reflect general conditions across our lender network as of August 1, 2026 and describe what the market has recently supported, not an outcome available to any specific borrower.
Actual pricing, leverage and terms are determined by the lender through underwriting, once full transaction materials have been reviewed. Nothing shown here is a quote, a commitment, an offer of credit or a guarantee.
PeerSense is a commercial lending advisory. We do not lend, we do not fund and we do not set pricing. Every credit decision belongs to the lender.
Market conditions move. Figures may change without notice, and a level that cleared last quarter may not clear today. What these terms mean.
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Reading the Output
The "Max Loan" column shows what each program will fund given your NOI + appraised value. The "Binding" column shows which constraint is the limiting factor. The largest loan wins for capital efficiency, but each program has trade-offs.
HUD 223(f) typically produces the largest loan AND the tightest rate, but at a 6-9 month timeline + MAP sponsor approval. For most stabilized $5M+ multifamily refis, agency (Fannie or Freddie) is the right pragmatic choice. CMBS wins when sponsor needs cash-out + portfolio recap features. Bridge for value-add holds with stabilization-then-permanent take-out path.
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Today's Multifamily Rates