Based on soft-quote and term-sheet loan quotes on conventional multifamily properties (Garden-style, Urban Walk-up, Mid/Highrise) across Texas, Georgia, Louisiana, and Oklahoma, priced as bridge financing, from April through July 2026. Light Bridge and Heavy Bridge are reported separately below rather than blended; they represent materially different leverage and risk tiers, and combining them would misrepresent both. A small number of quotes tied to distressed/REO deals or unusually wide stated spreads are excluded from the ranges below and reported separately, since blending them in would distort what's otherwise a fairly tight, representative pool.
Light Bridge
Fixed-rate quotes run from 5.70% to 7.50%, with a median of 6.75%. Floating-rate quotes range from 7.25% to 8.73%, with a median of 8.42%. LTV runs up to 80%, LTC caps at 80% across the quotes where stated, and DSCR requirements run from 1.11x to 1.20x. Recourse is split evenly between personal-recourse and non-recourse structures among quotes where specified; where recourse type was specified, all carry full recourse.
Geographically, this Light Bridge pool concentrates in Texas, with smaller clusters in Louisiana and Georgia.
Amortization schedules mostly run 30 years, with smaller shares at 20 years and 35 years. An interest-only period is present on most of these quotes, ranging from 6 to 120 months. Loan sizes in this pool range from $4,500,000 to $10,000,000, with a median loan amount of $5,280,000, notably larger than the $1M–$10M band seen in Lev's permanent-loan articles, consistent with bridge financing skewing toward bigger, more active repositioning deals in this pool.
| Metric | Range | Median |
|---|---|---|
| Fixed rate | 5.70% – 7.50% | 6.75% |
| Floating rate | 7.25% – 8.73% | 8.42% |
| LTV | up to 80% | — |
| DSCR | 1.11x – 1.20x | — |
| Recourse (of specified) | All full; personal vs. non-recourse split evenly | — |
Heavy Bridge
Heavy Bridge quotes in this pool, all higher-leverage, higher-risk structures by definition, run considerably higher than Light Bridge. Fixed-rate quotes range from 10.60% to 12.50%, with a median of 11.30%; floating-rate quotes range from 8.12% to 10.00%, with a median of 9.18%.
Geographically, this Heavy Bridge pool concentrates in Georgia and Oklahoma, with a smaller Texas presence.
| Metric | Range | Median |
|---|---|---|
| Fixed rate | 10.60% – 12.50% | 11.30% |
| Floating rate | 8.12% – 10.00% | 9.18% |
FAQ
What fixed rates is Lev seeing on multifamily light bridge loans in this region right now?
Lev is seeing a median of 6.75%, with most quotes falling between 5.70% and 7.50%.
How does that compare to heavy bridge?
Lev is seeing heavy bridge price much higher, with a median fixed rate of 11.30% versus 6.75% for light bridge — consistent with heavy bridge's higher leverage and risk profile.
What about floating-rate light bridge quotes?
Lev is seeing floating-rate light bridge quotes range from 7.25% to 8.73%, with a median of 8.42%.
What LTV, LTC, and DSCR is Lev seeing on light bridge deals?
Lev is seeing LTV and LTC running up to 80%, with DSCR requirements from 1.11x to 1.20x.
Where is this activity concentrated?
Lev is seeing light bridge activity concentrated in Texas, with smaller Louisiana and Georgia clusters; heavy bridge activity concentrates in Georgia and Oklahoma.
