Financing for your next
apartment acquisition.

Start with the building you are buying

Multifamily acquisition financing funds the purchase of an apartment property. The useful starting point is the property's current income, condition and business plan. A leased building with established operations presents a different financing question from a partially vacant property that needs substantial work.

Stonehaven arranges financing through third-party lenders nationwide, availability varies by state. Share the actual total project cost, including acquisition and planned improvements, separately from the financing request. We review projects individually and compare the property, sponsor and budget with available lender programs.

Agency, bank or bridge financing?

Stonehaven acts as a brokerage. We can explore agency execution through the lender panel, with the financing path confirmed for the actual property and sponsor. These descriptions do not identify Stonehaven as a Fannie Mae DUS or Freddie Mac Optigo lender.

Looking for Freddie Mac SBL?

The former Small Balance Loan program is an older search term. Freddie Mac launched Conventional Small on April 15, 2026 and accepted applications under the previous SBL program only through April 30. Use the current product when evaluating a new acquisition, rather than relying on an old SBL loan-size chart. Freddie Mac's transition announcement.

Why a down-payment percentage is only the first calculation

Prepare acquisition, renovations, closing costs and reserves as separate uses of funds. Net operating income (NOI) is property income after operating expenses. Debt-service coverage ratio (DSCR) compares that income with the annual debt payment. Loan-to-value (LTV) is a separate constraint, so a property can have enough apparent equity but insufficient income for the requested debt.

Work through the separate limits in our commercial loan-sizing guide before treating an advertised leverage ceiling as available proceeds.

When the acquisition includes renovation or lease-up

For a value-add plan, separate the income collected today from the rent expected after repairs. Show which units become unavailable during work, when they return to service and how the project covers carrying costs between those dates. A projected stabilized NOI should not be presented as current income.

If permanent financing does not fit the property's present condition, compare commercial bridge financing with a bank acquisition-and-improvement structure. Ask what is funded at closing, what is held back, whether draws reimburse completed work, and what inspections or lien releases are needed. Build the cash plan around those answers.

Check the intended refinance using a more conservative NOI and a later completion date. The bridge versus permanent financing guide explains why an exit needs its own underwriting. Review recourse, guarantees and carve-outs in the actual lender documents with counsel.

What to send for an acquisition review

• Property location, legal unit count, purchase price and target closing date.
• Current rent roll, occupancy, concessions and recent property operating statements.
• Renovation scope, budget, timing and any commercial space or unusual property features.
• Total project cost, requested loan, available equity and reserve plan.
• Sponsor ownership structure, relevant experience and intended hold or refinance plan.

Start with a concise scenario through the existing commercial inquiry form. We follow up by text and can arrange the appropriate way to exchange supporting documents. Avoid tenant personal information or sensitive financial records in the public form.

Buying a smaller building? Our 5 to 8 unit financing guide explains how unit count, rental income and loan size affect the path. For broader property questions, visit multifamily financing.