DUS Mortgage Loans

First-lien permanent mortgage loan financing options for the acquisition and/or refinancing of multifamily properties.

Term Sheet (PDF)


  • Flexible loan terms
  • Competitive pricing
  • Certainty of execution
  • Speed in processing and underwriting


  • Existing, stabilized Conventional Properties, Multifamily Affordable Housing Properties, Seniors Housing Properties, Student Housing Properties, and Manufactured Housing Communities
  • Properties with a minimum of five units (50 pad sites for Manufactured Housing Communities)
  • Credit-worthy single-asset U.S. borrower with U.S. ownership
  • Borrowers may have indirect foreign ownership interests, subject to proper structuring of the borrowing entity and its parent.


5 - 30 years.


Up to 30 years.

Interest Rate

Fixed- and variable-rate options available.

Maximum LTV

Varies by asset class and product type.

Minimum DSCR

Varies by asset class and product type.

Property Considerations

Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding. Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.

Supplemental Financing

Supplemental loans are available.

Prepayment Availability

Flexible prepayment options available including yield maintenance and declining prepayment premium.

Rate Lock

30- to 180-day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option.


30/360 and Actual/360.


Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy.


Replacement reserve, tax, and insurance escrows are typically required.

Third-Party Reports

Standard third-party reports required, including Appraisal, Phase I Environmental Site Assessment, and Property Condition Assessment.


Loans are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience.