Multifamily loans for Florida apartment properties.

Count the legally recognized units and confirm actual use. A duplex is different from a five-unit apartment building, and a property with storefronts may need a mixed-use review. Then establish whether the property is stabilized or needs work before long-term financing.

Reference: Fannie Mae multifamily small-loan property eligibility. Its published small-loan terms cover existing, stabilized properties with five or more units, loans up to $9 million, maximum 80% LTV and minimum 1.25x DSCR. These are program benchmarks, not a quote or a guarantee of maximum proceeds. Requirements are checked for the selected transaction.

Bennett Capital Partners acts as a mortgage broker. Access to a particular capital source depends on the property, borrower, location, and available lending partners; we do not represent ourselves as a direct agency lender.

This comparison describes financing categories, not a commitment that Bennett Capital Partners can place every program or property. We first establish which available lending sources fit your request.

Buying a five-to-ten-unit building?

Start with our small-balance multifamily review. Confirm the lender’s unit limit, minimum loan amount and rent-versus-NOI underwriting method. Do not carry a two-to-four-unit DSCR assumption into a five-plus-unit request.

Start with collected income, not the seller’s asking rents. Net operating income (NOI) subtracts property operating expenses from effective revenue, before debt service.

Check the Florida expenses that can change proceeds.

• Insurance: obtain current property, wind and flood quotes where applicable, including deductibles and lender coverage requirements.
• Property taxes: evaluate the tax outlook after acquisition instead of carrying forward the seller’s bill unchanged.
• Repairs and legal use: confirm recognized units, permits, deferred maintenance and any assessments affecting the operating plan.

All figures below are simplified illustrations, not an appraisal, rate quote or financing offer.

A property can meet the requested loan-to-value and still fail a cash-flow test. Compare debt-service coverage ratio (DSCR), loan-to-value (LTV) and any debt-yield requirement together.

Illustrative assumptions: $2 million accepted value; $130,000 of lender-accepted annual cash flow, after any reserve deduction the program applies, for these calculations; a 75% LTV cap; 1.25 minimum DSCR; 9% minimum debt yield; and an 8% annual debt constant. The debt constant is annual debt service divided by loan amount, not the interest rate. Actual programs may use different income measures and limits.

For a refinance, subtract the existing payoff, closing costs and required escrows from the proposed loan to estimate net proceeds or additional cash needed. A higher property value alone does not guarantee cash out. Use our commercial mortgage calculator to explore payment scenarios, then confirm the lender’s underwriting assumptions.

Two-to-four-unit DSCR is a different calculation.

Compare the income and payment definitions before interpreting a coverage ratio.

For more detail, read our Fannie Mae multifamily financing guide. The residential and commercial ratios are not interchangeable.

A loan’s amortization period and maturity date can differ. Payments calculated over a long period may still leave a balloon balance due after a shorter loan term. Review the maturity date alongside the expected hold and renovation timeline.

A projected refinance is a plan, not a commitment from a future lender. Test a weaker rent outcome, a larger repair budget, and a delayed stabilization date before selecting maximum leverage.

Prepare a current rent roll, trailing 12-month operating statement (T12), available prior-year financials, lease details, current mortgage information and the ownership structure. Additional operating history may be requested. If the plan includes renovations, provide a scope, budget, timeline, and assumptions for future rents. Separate existing performance from projections.

The sponsor’s liquidity and experience help explain how the plan will be executed. Identify management responsibilities, required equity, and any significant lease or expense changes. Commercial mortgage options provide broader context for mixed-use and other income-producing property.

Bennett Capital Partners reviews Florida apartment transactions through available lending partners. Request a multifamily financing review with the address, unit count, NOI, requested loan, and target date.