Multifamily Capital for DFW Owners & Developers
Agency, bridge, and construction debt for multifamily properties across the DFW Metroplex.
- Stabilized multifamily acquisitions and refinance
- Value-add bridge into agency refi
- Ground-up multifamily construction with HUD or bank take-out
- DFW sponsors scaling across multiple assets
Multifamily Loans, at a glance
- Loan size
- $1M – $500M
- Amortization
- 30 years (agency) / 25–30 (HUD)
- Term
- 5, 7, 10, 12 years
- LTV
- Up to 80% (agency) / 85% (HUD)
- DSCR
- 1.25x (agency) / 1.17x (HUD 223f)
- Rate
- Treasury + 1.25% to 2.75%
- Typical close
- 45–90 days
Multifamily is the deepest, most liquid commercial real estate debt market in the country, and DFW is one of the most active multifamily markets in that market. Between Fannie Mae, Freddie Mac, HUD, banks, debt funds, and life insurance companies, a stabilized apartment building in Dallas, Fort Worth, Arlington, or any DFW suburb has dozens of potential capital sources. The question is never whether financing exists, it is which execution wins on rate, proceeds, flexibility, and speed for the specific deal in front of you.
We arrange multifamily debt across every product type and capital source. For stabilized properties, that almost always means agency execution (Fannie DUS for conventional, Freddie SBL for small balance, Freddie Optigo for larger conventional, HUD 223(f) for long-term fixed rate). For value-add, it means bridge debt with an agency refinance exit. For ground-up, it means construction debt with a HUD 221(d)(4) or bank-to-perm take-out. Every execution has trade-offs on rate, leverage, prepayment, and closing timeline, we map the deal to the right option from day one.
Fannie DUS vs. Freddie Optigo in DFW
The two big conventional agencies are structurally similar but have different pricing and underwriting appetites depending on the quarter. Fannie DUS is traditionally the heavier player on Class A stabilized institutional product. Freddie Optigo (conventional) has historically been more aggressive on value-add and has strong appetite in DFW secondary markets like Denton, Mansfield, and Rowlett. Freddie SBL (Small Balance Loan) serves the $1M–$7.5M market segment with lighter documentation.
We run every stabilized deal through both agencies before recommending one. On a given day, the winner might be Fannie on rate, Freddie on proceeds, or vice versa. A 15-basis-point difference on a $10M 10-year loan is $150K over the life of the loan, it matters.
HUD, cheapest capital, longest process
HUD 223(f) is the federal government's permanent multifamily product and it is the single cheapest long-term debt available for a DFW apartment building. 35-year fully amortizing, fully assumable, non-recourse, fixed rate for the full term, leverage up to 85% on market rate and even higher on affordable. The catch: HUD closings take 6–9 months and the paperwork is brutal.
HUD makes sense for long-hold sponsors on larger assets where the rate savings over the term justify the closing time and transaction friction. It does not make sense for a sponsor planning to sell or refinance inside 5 years. We underwrite HUD alongside agency every time the asset size and hold period warrant it.
Ready to explore Multifamily options?
Get a QuoteMultifamily Loans, FAQ
What's the minimum loan size for Fannie Mae multifamily in DFW?
Fannie DUS starts at $1M. Freddie SBL also starts at $1M. Both are designed to serve the full DFW multifamily market from smaller 24-unit buildings in South Dallas to 400-unit Class A properties in Frisco and Plano.
Can I get agency financing on a newly built multifamily property?
Yes, once it is stabilized. Agency lenders want 90 days of stabilized occupancy above 90% (or the market standard) and trailing operating statements. New construction is typically financed with a bridge or bank loan through lease-up, then refinanced into agency at stabilization.
Is recourse required on multifamily loans in DFW?
Agency loans (Fannie, Freddie, HUD) are non-recourse with standard carve-outs. Bridge and construction loans are more mixed, recourse is common under $10M and often negotiable above. Bank permanent loans below $5M are usually recourse.
Can I cash out of a refinance on an apartment building?
Yes. Agency cash-out refi is extremely common in DFW, especially on assets that have seen value-add work completed and NOI growth. Proceeds up to 75%–80% LTV are available for experienced sponsors.
What about multifamily bridge debt?
Multifamily bridge is the standard value-add play in DFW. Buy a Class B/C 1980s asset, renovate units, push rents 15%–25%, then refinance into agency when the business plan is done. We arrange the bridge on day one with a view toward the agency exit from the start.
Other loan programs
SBA
SBA Loans
Government-guaranteed financing for owner-users buying, building, or expanding commercial property across North Texas.
- Loan size
- $150K → $15M
- Close
- 45–75 days
SBA 504
SBA 504 Loans
The only commercial loan product in the country that gives owner-occupiers a 20- or 25-year fixed rate on 40% of their purchase.
- Loan size
- $500K → $15M
- Close
- 60–90 days
SBA 7(a)
SBA 7(a) Loans
The most flexible small-business loan in the country, real estate, acquisition, equipment, and working capital in a single package.
- Loan size
- $50K → $5M
- Close
- 45–60 days with Preferred Lender
Ready to start your deal?
Tell us about your property and we'll match you to the right capital source across our network of 30+ lenders.