Multifamily underwriting in 2026 means more than running a cap rate. Agency programs have tightened DSCR floors, expense ratios are under scrutiny, and lenders want stress-tested cash flows before they issue a term sheet. AssetForge Underwriter builds all of it — NOI, DSCR at multiple loan amounts, 5–10 year pro forma, and an agency-eligibility verdict — directly from your rent roll and T12.
Upload any combination of OM, rent roll, operating statements, and property photos. The report flags lease concentration risk, vintage deferred maintenance, sub-market rent comparables, and whether the deal pencils under Fannie DUS or Freddie SBL standards.
See whether the deal clears 1.25× at Fannie DUS, 1.20× at Freddie SBL, and 1.30× at common bank debt — all in one table.
AI parses your rent roll line-by-line, flags below-market units, and calculates achievable loss-to-lease if marked to market.
Compares your T12 to asset-class benchmarks (35–45% typical for stabilized C-class) and flags suspicious under-reporting.
+150bps rate, -5% rent, +10% expenses. Walks through each scenario so you see which is the killer.
Yes — both small residential multifamily (2–4 units, Fannie/Freddie conforming) and larger agency-eligible properties (5+ units) are supported. The report auto-adjusts to the applicable loan program.
At minimum: a T12 and a current rent roll. For best results, also include the offering memorandum, the last 2 years of operating statements, and property photos. AssetForge works with whatever you have.
Yes — every Full Underwriting report generates a shareable lender presentation deck and a Deal Analysis Memo formatted for submission. Your lender sees a clean, institutional deliverable.
Valuation triangulates income approach (NOI ÷ market cap), sales comp approach, and cost approach. All figures are explicitly flagged as AI-generated estimates requiring independent verification — this is a screening tool, not an appraisal.
Start with a free Go/No-Go screen. Upgrade only if the deal looks real.
AI-generated informational analysis only — not financial, legal, lending, or appraisal advice. Not a substitute for a licensed MAI-certified appraisal or professional due diligence. All figures, projections, and market estimates must be independently verified by qualified professionals before any capital decision is made.