Multi-Family 2–4 Unit Construction Loans in Florida
Multi-Family 2–4 Unit Loan in Florida
Building in Florida starts with securing the right loan. Normandy’s multifamily construction loan program is available to borrowers across Florida — from Miami to smaller residential markets throughout the state.
Florida’s rental market growth across Miami, Tampa, and Orlando makes 2–4 unit construction a strong investment for owner-occupants who want both a residence and rental income from the same property.
Loan amounts from $95,000 to $5,000,000. Up to 75% of appraised value. Minimum 25% down toward land or acquisition required. 12-month construction term; extensions available. Interest-only on funds advanced. Foreign nationals are eligible. Land purchase may be included. Full and limited income documentation available. Self-build option available.
Call 800-390-7536 or visit https://normandy.com/multi-family-2-4-units-loans/ to pre-qualify. All Normandy loan programs: https://normandy.com/.
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
Florida Construction Market & Regulatory Overview
Florida remains one of the fastest-growing states for residential construction. Population migration, retirement demand, and a strong job market continue driving new home activity across all major metros.
Building Code: Florida Building Code (FBC), including mandatory hurricane-resistant construction standards.
Permitting: Permits are issued through local county and municipal building departments. All construction must comply with the FBC and applicable wind zone requirements for the project location.
Key construction considerations in Florida include hurricane wind zones, flood plain elevation requirements, and high-humidity building conditions. Normandy’s underwriting team works directly with borrowers — you deal with the loan officer and underwriter, not a call center.
Contractor Licensing in Florida
Florida general contractors must hold a state-issued license through the Department of Business and Professional Regulation (DBPR). Specialty trade contractors are separately licensed.
Owner-Builder Note: Florida allows owner-builders to act as their own contractor for a primary residence, but limits how frequently the exemption applies and requires a sworn affidavit with the local building department.
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 — Multi-Family 2–4 Unit Loan in Florida
Q: What is a multifamily construction loan in Florida?
A: A multifamily construction loan in Florida is financing for building a 2–4 unit residential property. Normandy disburses funds in draws as construction progresses. Interest-only payments on advanced funds during the 12-month construction term.
Q: What does a duplex construction loan cover in Florida?
A: A duplex construction loan in Florida covers the full cost of building a two-family residential property. Loan amounts up to 75% of appraised value. A minimum 25% down payment toward land or acquisition is required.
Q: What apartment construction financing is available in Florida?
A: Normandy’s apartment construction financing in Florida covers 2–4 unit residential builds. Loan amounts from $95,000 to $5,000,000. For 5+ unit projects, Normandy’s Commercial Construction Loan program applies — see normandy.com for details.
Q: How does a multi unit property loan work in Florida?
A: A multi unit property loan in Florida through Normandy is a 12-month interest-only construction loan with draw disbursements at milestones. Foreign nationals are eligible. Full and limited documentation programs available. Self-build is permitted.
Q: Can I get a 4 unit construction loan in Florida?
A: Yes. Normandy’s 4 unit construction loan program in Florida covers up to 75% of appraised value. A minimum 25% equity contribution toward land or acquisition is required. Call 800-390-7536 to discuss your project.