A value-add multifamily property rarely qualifies for permanent financing on the day it is purchased. It may need renovations, higher occupancy, or higher operating income before it can refinance into long-term debt. During that period, the deal depends on more than the interest rate. The lender has to close on time, fund renovation draws as planned, and support the business plan through stabilization.
That is why choosing a multifamily bridge lender is about more than comparing rates. Loan size, leverage, draw administration, underwriting, and funding model all affect how the loan performs once the project is underway.
This guide compares six private multifamily bridge lenders active in the 5+ unit value-add market. It focuses on the differences that affect execution: loan range, leverage, term structure, funding model, and servicing, so you can identify which lender best fits your deal.
How to Choose Multifamily Bridge Lenders
A transitional multifamily asset is an operating business during the loan term. Rents, occupancy, DSCR, and the sponsor’s track record all factor into underwriting in ways they don’t on a single-family renovation. These are the four questions that reveal whether a lender is actually built for your deal.
The Funding Source
Ask: “Will you fund and service this loan yourself, or will another institution be involved after closing?”
A funding model affects how decisions are made throughout the loan. Balance-sheet lenders underwrite, fund, and usually service their own loans, so the same team can often respond if the deal changes. Other lenders rely on warehouse lines, securitization, or third-party capital. Those models can offer competitive pricing, but additional parties or guidelines may limit flexibility if the project changes after closing.
The Leverage Structure
Ask: “How do you calculate leverage, and what could reduce my loan amount before closing?”
The leverage quoted at the start of underwriting is not always the amount you receive at closing. Some lenders size the loan against project cost, while others apply limits based on as-is value, debt yield, or other underwriting metrics. If those limits reduce the loan late in the process, you may need to bring more cash to closing than expected.
The Underwriting Methodology
Ask: “How will you evaluate a property that is still being improved?”
A value-add property often has lower occupancy, deferred maintenance, or below-market rents when it is purchased. Some lenders place more weight on the property’s current performance, while others also consider the business plan and expected stabilized income. That difference can affect the loan amount, covenants, and whether the financing supports the renovation strategy.
Construction Draw Administration
Ask: “Who approves and releases renovation draws after closing?”
Renovation work only moves as quickly as the draw process. Some lenders manage inspections and draw requests in-house, while others use a third-party servicer. Every additional approval step can delay reimbursement, which may slow construction and postpone lease-up.
Multifamily Bridge Lenders in 2026: A Comparison
Stormfield Capital
Stormfield is a direct balance-sheet lender that funds and services its multifamily bridge loans entirely in-house. There are no third-party approvals, no loan sales, and no handoffs after closing.
- Loan amount: $500K – $30M+
- Property: 5-100+ unit multifamily
- Interest rate: starts as low as 8.99%
- LTC: up to 85%
- LTV: up to 70%
- Term: 12-24 months
- Closing speed: typically 21 days
- Prepayment: flexible options
- Servicing: 100% in-house
- Geography: nationwide with special focus on the Northeast belt.
Best for: investors who want a published rate, a wide deal-size range, and direct access to the underwriting and servicing team from term sheet through payoff.
Conventus
Conventus is a direct private lender with a property-focused underwriting approach: asset potential matters more than rigid income documentation.
- Property Type: multifamily and mixed-use (60%+ residential required)
- LTV: up to 80%
- Term: 6 months to flexible long-term structures
- Closing speed: 2–4 weeks
- Rate: not published on the multifamily page.
- Geography: 44 states (excludes NV, ND, SD, MN, IA, VT)
Best for: investors wanting fast, asset-focused underwriting on small-to-mid multifamily across a wide geographic footprint.
CoreVest
CoreVest, a subsidiary of Redwood Trust, provides multifamily bridge financing on transitional and value-add assets. It securitizes its loans rather than holding them on a balance sheet.
- Loan amount: $3M – $15M+
- LTC: up to 75% of cost
- LTV: up to 65% of value
- Term: up to 30 months
- Rate: quote-based
- Geography: 46 states (excludes ID, NV, ND, SD)
Best for: value-add multifamily deals starting at $3M where a 30-month term and institutional depth are priorities.
RCN Capital
RCN’s multifamily bridge runs through its Stabilized Bridge program: a distinct product from its residential short-term bridge. It originates through a broker and wholesale channel; Elite Commercial Servicing handles servicing.
- Loan amount: $250K – $2M
- Property: 5+ unit apartments and mixed-use (residential space must be 70%+ of total square footage)
- LTV: up to 75% of as-is value (purchase); 70% refinance; 65% cash-out
- Term: 12-18 months (extended terms available)
- Min FICO: 650
- Rate: not published on the multifamily-specific sheet1
- Fees: no upfront application fee; borrower covers third-party costs
- Geography: nationwide (excludes AK, NV, UT, ND, SD, VT)
Best for: smaller multifamily deals ($250K–$2M) where a 650 FICO floor is the qualifying threshold and the loan is sourced through a broker.
Lima One Capital
Lima One has a dedicated multifamily bridge program, separate from its 1-4 unit Bridge Plus product, with two tracks for different deal stages.
- Loan amount: up to $25M
- Term: 24-36 months interest-only
- Rate: quote-based; no published figure
- Geography: nationwide (excludes AK, ND, SD, VT)
- Stabilized Bridge: up to 75% LTC/LTV; low in-place DSCR requirements; financing for Freddie, Fannie, or bank fallout deals; non-recourse available
- Value-Add Bridge: up to 85% LTC / 75% LTARV; low or no in-place cash flow acceptable; small to large CapEx budgets; non-recourse available
Best for: value-add or stabilization deals up to $25M where longer terms, high leverage, and non-recourse structure are priorities.
FACo (Finance of America Commercial)
FACo publishes one of the few formula-based rates in this group: SOFR + 400 bps. It is part of the Roc360 family of companies and operates two multifamily bridge programs: a general program and a stricter East Coast variant with larger loan sizes.
- Rate: SOFR + 400 bps (published)
- Loan amount: $500K–$5M (general); $1M–$10M (East Coast program)
- Term: 12-24 months (general); 18-24 months (East Coast)
- Leverage: up to 75% of purchase price / 80% LTC / 70% of stabilized value; cash-out refinance 65%
- Recourse: recourse and non-recourse case-by-case (general); full recourse (East Coast)
- Property: 5+ unit multifamily, min $35K per door, Class A/B/C (general); 100% residential, no mixed-use (East Coast)
- Experience: prior multifamily ownership required
- Min FICO: 725 (East Coast program only)2
- Markets: primary, secondary, tertiary (general); select East Coast markets (East Coast)
Best for: investors with prior multifamily experience who want a published, benchmark-tied rate. The East Coast program suits larger deals ($1M–$10M) in those markets; the general program is available nationally.
Multifamily Bridge Lenders at a Glance
| Lender | Loan Range | Term | Min FICO |
|---|---|---|---|
| Stormfield | $500K–$30M+ | 12–24 mo | No strict minimum |
| Conventus | Not published | 6 mo–flexible | Not published |
| CoreVest | $3M–$15M+ | Up to 30 mo | Profile Based |
| RCN | $250K–$2M | 12–18 mo | 650 |
| Lima One | Up to $25M | 24–36 mo | Not published |
| FACo | $500K–$5M | 12–24 mo | 725 |
Leverage is not included as a column because LTC, LTV, and stabilized-value figures vary by lender and are not directly comparable; these are addressed in the per-lender sections above.
How the 6 Lenders Compare on What Matters for Execution
The four criteria from the previous section produce different answers depending on the lender. Here is how each one compares.
| Lender | Funding Model | Draw Administration | Underwriting Approach |
|---|---|---|---|
| Stormfield | Balance-sheet; holds and services own loans | In-house | Asset + business plan; no hard FICO cutoff |
| Conventus | Direct private lender | Not stated on product page | Property-focused; asset potential over income docs |
| CoreVest | Redwood Trust subsidiary; securitizes | Not stated on product page | Profile-based; no DSCR threshold required |
| RCN | Wholesale/broker; third-party servicing (Elite) | Third-party (Elite Commercial Servicing) | Asset-based; 650 min FICO |
| Lima One | $1B+ funded; funding model not stated on product page | Not stated on product page | Low/no in-place DSCR required; business plan weighted |
| FACo | Roc360 family; institutional | Not stated on product page | Prior MF experience required; 725 FICO (East Coast) |
Multifamily Bridge Loan Deals: Recent Examples
The three deals below reflect different reasons investors use short-term multifamily bridge financing: acquisition of a stabilized asset, cash-out against an unencumbered property, and renovation funding ahead of permanent financing
- $814,125 | Somersworth, NH : 66% LTV, 12-month term. A repeat borrower’s acquisition and light renovation of a fully occupied 6-unit property near the Dover market.
- $1,086,000 | Tampa, FL : 60% LTV, 18-month term. A cash-out bridge on a free-and-clear, fully renovated 12-unit property, letting an experienced sponsor recoup invested equity.
- $700,000 | Brooklyn, NY : 54% LTV, 12-month term. A short-term bridge to fund a façade renovation on a Brooklyn multifamily property.
Frequently Asked Questions
What is a multifamily bridge loan?
Short-term, interest-only financing used to acquire, renovate, or stabilize a 5+ unit property before refinancing into permanent debt or selling.
When does a multifamily bridge loan make more sense than agency or bank financing?
When speed matters, the asset is transitional or unstabilized, the plan is value-add, or an acquisition is competitive and agency timelines are too slow. Agency lenders underwrite to in-place income; bridge lenders underwrite to the business plan.
What credit score and experience do multifamily bridge lenders require?
Requirements range from no set minimum (profile-based) to a 650–725 FICO depending on the lender, and several require prior multifamily ownership experience. Underwriting emphasis shifts toward the asset, the business plan, and the sponsor’s liquidity.
Can you get a multifamily bridge loan with 100% financing?
Not on the purchase. Leverage is capped by loan-to-cost and loan-to-value limits across every lender in this group. “100%” in some program descriptions refers to renovation costs being fully funded, not the acquisition.
Disclaimer: Rates are best-case figures published on each lender’s own product page as of July 2026; most multifamily bridge pricing is quote-based and varies by leverage, borrower experience, property, and market. Verify current terms directly with each lender.
1 RCN: Multifamily financing runs through its Stabilized Bridge program ($250K–$2M). The 9.49% starting rate is stated on the umbrella Short-Term Bridge program, not the multifamily-specific sheet.
2 FACo: A separate East Coast program lists $1M–$10M with a 725 minimum FICO; the general program shows $500K–$5M. FACo is part of the Roc360 family of companies.
