Apartment Building Financing That Moves at Your Speed
Fannie Mae, Freddie Mac, and portfolio options for 5–50 unit apartment buildings in Oregon and California. Fast term sheets. Experienced multifamily team.
$1M – $10M
Loan Range
5 – 50
Units
1.20x
Min. DSCR
30–45 Days
Close Time
Overview
The Middle Market Multifamily Specialist
The 5–50 unit segment is often underserved by big banks focused on large institutional deals and ignored by residential lenders who stop at 4 units. Lumen Mortgage has built a dedicated multifamily practice to serve this exact segment — with agency programs, streamlined underwriting, and loan officers who know the Oregon and California markets.
We offer Fannie Mae Small Loan and Freddie Mac SBL programs for stabilized properties, as well as portfolio programs for assets that need a more flexible underwriting approach. Our in-house team produces custom term sheets within 24 hours of receiving a deal package.
Who This Is For
Key Features
What Makes This Program Work
Agency Programs
Fannie Mae Small Loan and Freddie Mac SBL programs offer competitive long-term fixed rates and non-recourse options for stabilized assets.
Portfolio Flexibility
For assets with occupancy issues, recent repositioning, or borrower nuance — our portfolio programs step in where agencies won't.
Fast Term Sheets
Submit a deal package Monday; receive a preliminary term sheet by Tuesday. We move at the pace of real estate investors.
Long-Term Fixed Rates
Lock in 5, 7, 10, or 30-year fixed rates on stabilized assets. Rate locks protect you from market volatility during underwriting.
Non-Recourse Options
Agency programs are available on a non-recourse basis — protecting your personal assets beyond standard carve-outs.
Refinance & Cash-Out
Refinance out of a bridge loan, pull equity for your next acquisition, or lock in a lower rate on a maturing loan.
The Process
How It Works
Deal Submission
Send us a rent roll, trailing 12-month P&L, and property photos. We'll review and respond with a preliminary term sheet within 24 hours.
Application & Third Parties
We order the appraisal, Phase I environmental, and property condition report. Agency programs have defined third-party requirements.
Underwriting
Our in-house multifamily team underwrites the file. Agency programs go to Fannie or Freddie for DUS approval; portfolio stays in-house.
Closing
Sign loan documents and fund. Typical timeline is 30–45 days from application on agency; 21–30 days on portfolio programs.
Requirements
General Qualifications
Ready to See If You Qualify?
Every deal is unique. Give us a call or submit a quote request and we'll review your scenario, identify the right program, and walk you through your options — at no cost and with no obligation.
Licensed in Oregon & California · NMLS #1498678
FAQ
Common Questions
From the Blog
Further Reading
InvestmentDSCR Loans Explained: How Real Estate Investors Qualify Without Tax Returns
If you're a real estate investor with strong rental income but complex taxes, a DSCR loan might be your best financing option. Here's exactly how they work and who they're designed for.
MultifamilyValue-Add & Rehab Loans for Multifamily Apartments: The Complete Financing Guide for Investors
Buying a tired apartment building, forcing appreciation through strategic renovations, and refinancing at a higher value is one of the most proven wealth-building strategies in real estate — but the financing is more complex than a standard rental loan. Here's how value-add multifamily deals actually get funded.
RefinancingWhen Does It Make Sense to Refinance Your Mortgage?
Refinancing can save you thousands — or cost you thousands. Here's a straightforward framework for deciding whether a refi makes sense for your situation right now.
What Our Clients Say
Five-Star Reviews from Real Borrowers
All reviews verified on Google
Ready to Finance Your Next Deal?
Our multifamily specialists respond within 1 business day with a custom term sheet tailored to your property and investment strategy.