Multi Family 2–4 Units Loan
Multifamily Construction Loan – Duplex, Triplex & Fourplex Financing
For a Rate and Fees quote call
800-390-7536
Looking to build a duplex, triplex, or fourplex? Normandy’s multifamily construction loan programs are designed for both owner-occupants and investors constructing 2–4 unit residential properties. Our duplex construction loan, triplex construction loan, and 4 unit construction loan options support self-build projects as well as builder-led construction — giving you full flexibility in how you manage your project.
From apartment construction financing for rental income properties to multi unit property loan options for owner-occupied buildings, Normandy has a program matched to your goals and timeline. Small multifamily construction financing through Normandy covers the full build via draw-based disbursements — keeping costs controlled and cash flow predictable. For fourplex construction and smaller projects, our team provides experienced guidance at every stage. For 5+ units, please refer to our Commercial Construction programs.
General Guidelines*
- Self Build available
- Loan amounts from $95,000 to $10,000,000
- Loan amounts up to 75% of the appraised value
- Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts
- Construction completion available (construction has begun)
- Borrower must have a minimum of 25% to put down towards the land purchase/subject property acquisition
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Full and limited documentation programs available
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
*All rates and terms subject to change without notice
Loans Available in the Following States
Owner Occupied
Loans available for owner occupied properties in the following states:
- California (CA)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Iowa (IA)
- Massachusetts (MA)
- Michigan (MI)
- North Carolina (NC)
- New Jersey (NJ)
- New York (NY)
- Oregon (OR)
- Rhode Island (RI)
- Virginia (VA)
- Washington (WA)
Non-Owner Occupied
Loans available for non-owner occupied properties only:
- Alaska (AK)
- Alabama (AL)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Georgia (GA)
- Hawaii (HI)
- Iowa (IA)
- Idaho (ID)
- Indiana (IN)
- Kansas (KS)
- Kentucky (KY)
- Massachusetts (MA)
- Michigan (MI)
- Maryland (MD)
- Maine (ME)
- Missouri (MO)
- Mississippi (MS)
- Montana (MT)
- North Carolina (NC)
- New Jersey (NJ)
- Nebraska (NE)
- New Mexico (NM)
- New York (NY)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Rhode Island (RI)
- South Carolina (SC)
- Tennessee (TN)
- Utah (UT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wyoming (WY)
Frequently Asked Questions
Multifamily Construction Loans
What types of properties does a multifamily construction loan cover?
Normandy’s multifamily construction loan programs cover 2–4 unit residential properties — including duplex construction loans, triplex construction loans, and fourplex construction loans. For 5+ units, please refer to our Commercial Construction programs.
Can I owner-occupy one unit while renting the others?
Yes. Normandy’s multi unit property loan programs are available for owner-occupied builds. Many borrowers occupy one unit and rent the remaining units to offset mortgage costs.
Is a self-build option available for multifamily properties?
Yes. Owner-builder construction is available, allowing you to act as your own general contractor on your build a duplex or triplex project — reducing labor costs without requiring a site supervisor.
What are the LTV limits on a duplex or 4 unit construction loan?
Conforming loan amounts allow up to 80% LTV. Jumbo amounts ($832,751+) allow up to 75% LTV. A 750 mid FICO is required for maximum LTV (subject to underwriting).
What happens after construction is complete?
Once complete, you can convert to permanent apartment construction financing or refinance into a long-term mortgage. Normandy’s team guides you through every step of the small multifamily construction financing process.
For a Rate and Fees quote call
800-390-7536
Multi Family 2-4 Unit Loans
This program is designed for Borrowers who are constructing a 2-4 family residential Owner Occupied property. Non-Owner Occupied properties allowed. Please call for details.
General Guidelines*
- Self Build available
- Loan amounts from $95,000 to $5,000,000
- Loan amounts up to 75% of the appraised value. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
- Borrower must have a minimum of 25% to put down towards the land purchase/subject property acquisition
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Full and limited documentation programs available
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
*All rates and terms subject to change without notice