By kind of loan
Multifamily lenders
2,540 lenders made at least one multifamily loan in 2024 or 2025 (HMDA). JPMorgan Chase Bank, National Association made the most in 2025, 3,873 of 41,367.
- Evidence
- Lender made at least one multifamily loan in 2024 or 2025 (HMDA, manufactured-home parks excluded)
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 2,540
- HMDA,
- Multifamily loans, 2025
- 41,367
- HMDA,
- Dollars, 2025
- $263B
- HMDA,
Cite this
Source: The Lender Report, Multifamily lenders, https://lender.report/multifamily-lenders/, data as of December 31, 2025.
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| Lender | Kind | Based in | 2025 loans | 2025 dollars | Typical loan |
|---|---|---|---|---|---|
| JPMorgan Chase Bank, National Association | Bank | Columbus, OH | 3,873 | $17.2B | $2.04M |
| RF Renovo Management Company, LLC | Non-bank | Chicago, IL | 798 | $1.11B | $855K |
| Walker & Dunlop, LLC | Non-bank | Bethesda, MD | 765 | $20.0B | $15.0M |
| Berkadia Commercial Mortgage | Non-bank | Ambler, PA | 752 | $14.0B | $10.0M |
| U.S. Bank National Association | Bank | Cincinnati, OH | 500 | $1.76B | $1.00M |
| Arbor Realty Trust, Inc. | Non-bank | Uniondale, NY | 423 | $5.62B | $6.29M |
| Lument Real Estate Capital | Non-bank | Columbus, OH | 387 | $5.13B | $7.50M |
| Wells Fargo Bank, National Association | Bank | Sioux Falls, SD | 340 | $20.9B | $29.3M |
| Velocity Commercial Capital LLC | Non-bank | Westlake Village, CA | 330 | $191M | $455K |
| Greystone Servicing Corporation, Inc. | Non-bank | Memphis, TN | 318 | $6.03B | $12.3M |
| EverBank, National Association | Bank | Jacksonville, FL | 303 | $1.05B | $2.40M |
| Berkeley Point Capital LLC | Non-bank | Boston, MA | 296 | $9.35B | $24.4M |
| PGIM Real Estate Agency Financing, LLC | Non-bank | Dallas, TX | 271 | $6.79B | $17.7M |
| Old National Bank | Bank | Evansville, IN | 266 | $1.29B | $835K |
| CBRE Multifamily Capital, Inc. | Non-bank | Houston, TX | 261 | $8.37B | $24.8M |
| Bellwether Enterprise Real Estate Capital, LLC | Non-bank | Cleveland, OH | 236 | $3.71B | $10.3M |
| Conventus Lending LLC | Non-bank | San Francisco, CA | 225 | $415M | $1.41M |
| Citizens Bank, National Association | Bank | Providence, RI | 222 | $833M | $2.69M |
| National Cooperative Bank, N.A. | Bank | Hillsboro, OH | 203 | $676M | $2.15M |
| PNC Bank, National Association | Bank | Wilmington, DE | 198 | $6.17B | $23.8M |
| Re Investment Loans LLC | Non-bank | Greenwood Village, CO | 177 | $197M | $965K |
| JLL Real Estate Capital, LLC | Non-bank | St. Paul, MN | 173 | $7.43B | $21.0M |
| Regions Bank | Bank | Birmingham, AL | 159 | $2.14B | $6.20M |
| NewPoint Real Estate Capital | Non-bank | Plano, TX | 155 | $5.08B | $16.6M |
| M&T Realty Capital Corporation | Non-bank | Buffalo, NY | 155 | $4.41B | $18.8M |
| State | Lenders | Loans | Dollars |
|---|---|---|---|
| Texas | 323 | 1,932 | $19.0B |
| Illinois | 301 | 2,847 | $9.62B |
| Pennsylvania | 235 | 1,835 | $6.09B |
| New York | 234 | 3,318 | $28.9B |
| Florida | 232 | 1,139 | $18.4B |
| Missouri | 229 | 1,310 | $3.38B |
| Tennessee | 222 | 753 | $5.26B |
| California | 221 | 5,674 | $32.7B |
| Wisconsin | 215 | 1,892 | $5.03B |
| Ohio | 213 | 1,361 | $7.13B |
| Georgia | 191 | 936 | $9.46B |
| Massachusetts | 189 | 1,323 | $7.13B |
| Minnesota | 188 | 802 | $4.55B |
| Iowa | 185 | 1,091 | $1.91B |
| Indiana | 184 | 831 | $6.04B |
| New Jersey | 161 | 943 | $7.65B |
| North Carolina | 151 | 758 | $8.54B |
| Kentucky | 150 | 828 | $3.05B |
| Michigan | 150 | 744 | $5.16B |
| Kansas | 146 | 772 | $1.81B |
| Alabama | 143 | 485 | $2.39B |
| Virginia | 142 | 599 | $10.0B |
| Oklahoma | 140 | 561 | $1.80B |
| South Carolina | 135 | 398 | $3.99B |
| Washington | 130 | 883 | $7.76B |
| Arizona | 123 | 428 | $7.35B |
| Arkansas | 118 | 607 | $1.55B |
| Louisiana | 118 | 789 | $1.28B |
| Colorado | 114 | 469 | $6.48B |
| Connecticut | 113 | 527 | $2.93B |
| Maryland | 107 | 275 | $2.79B |
| Nebraska | 100 | 734 | $2.07B |
| Oregon | 97 | 442 | $4.18B |
| New Hampshire | 72 | 248 | $1.30B |
| West Virginia | 72 | 195 | $415M |
| Rhode Island | 71 | 252 | $849M |
| Mississippi | 70 | 356 | $729M |
| Nevada | 65 | 140 | $2.19B |
| North Dakota | 63 | 250 | $730M |
| Utah | 63 | 177 | $2.63B |
| Idaho | 62 | 116 | $772M |
| District of Columbia | 60 | 151 | $1.73B |
| South Dakota | 56 | 227 | $448M |
| Maine | 53 | 293 | $647M |
| New Mexico | 49 | 98 | $2.83B |
| Montana | 42 | 160 | $912M |
| Delaware | 36 | 45 | $226M |
| Wyoming | 29 | 56 | $196M |
| Alaska | 27 | 86 | $137M |
| Vermont | 20 | 132 | $207M |
| Hawaii | 16 | 76 | $1.11B |
- Lenders made 41,367 multifamily loans totaling $263.4B in 2025, manufactured-home parks excluded. HMDA,
- The five most active lenders made 16.2% of those loans. HMDA,
- These lenders: 1,739 banks, 248 savings institutions, 419 credit unions and 134 non-bank lenders. HMDA,
- The typical multifamily loan in the United States was about $1.2M, with the middle half between $480K and $3.8M. HMDA,
- Lenders reported a median rate of 6.70% on 53,686 loans in the United States, with the middle half between 6.00% and 7.50%. HMDA,
- The median term in the United States was 10 years. HMDA,
- 47% of multifamily loans in the United States were refinancings. HMDA,
- Most recorded loans in the United States were in Los Angeles County, CA (4,770), Cook County, IL (2,873), Kings County, NY (1,420). HMDA,
- 51 states have at least 10 multifamily lenders with in-state evidence on record, each with its own page. HMDA,
How this list is defined
- Measure
- Multifamily loans made in the United States
- Period
- 2024 and 2025
- Formula
- Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the United States, manufactured-home parks excluded. A lender is listed if it made at least one.
- Order
- Largest first by loans made in 2025, then loans in 2024, then dollars in 2025, then name. Payment is not part of the order.
- As of
- 2025
- Source
- HMDA
- Changelog
- : First published, with the data built on this date.
Is your institution on this list? Show your rank. It carries the date and links back to this page.
HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date.
Lenders that merged or stopped filing are left out.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.