Every lending channel has a box. The skill is knowing which box your deal fits before you spend sixty days finding out it doesn't.
Agency debt is among the largest sources of multifamily capital in the country, and for stabilized apartment assets it is usually the cheapest money available. Long amortization, non-recourse structures, and pricing a balance-sheet lender generally cannot match. The tradeoff is process — agency execution is documentation-heavy and moves on its own timeline.
Banks, credit unions, and savings institutions lend from their own balance sheets, which lets them be flexible in ways securitized programs cannot. Relationship matters, local market knowledge matters, and a portfolio lender who understands your submarket will sometimes go where a national program will not. Recourse is common.
For one-to-four unit investment property, non-QM programs qualify the loan on the asset's cash flow or the borrower's actual deposits rather than tax returns. That solves the problem investors hit constantly — write-offs make the returns look thin, and conventional underwriting reads that as insufficient income even when the properties cash flow fine.
Bridge capital exists to buy time — to acquire quickly, reposition an asset, or complete a renovation before permanent financing makes sense. Used well it is a tool. Used without a defined exit it becomes the problem. We structure bridge debt around the takeout, not just the closing.
CMBS debt is securitized and sold into the bond market, so pricing is driven by capital markets rather than one lender's appetite. Life insurance companies lend from long-duration capital and favor low-leverage, low-risk projects with strong sponsorship. Both are non-recourse and both reward stabilized assets.
A licensed care facility is a business operating inside real estate. Residential underwriting misses the operation; commercial underwriting sees a house. The file bounces between desks until it dies, or the borrower takes hard money just to close. Those are the files we go after.
That is the point of the conversation. Send the property, the loan amount, and the objective, and we will tell you where it belongs — or that it does not belong anywhere.
Tell us the property, the loan amount, and the objective. We’ll tell you which channel fits and what terms are realistic.
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