About Stackup

Stackup is operated by Janover Capital LLC, a commercial mortgage brokerage. The desk arranges loans for apartment buildings with agency lenders, HUD lenders, banks and other capital sources. It doesn’t lend money itself.

We built Stackup because the first question on almost every apartment loan is the same one: which program gives me the most money, and what stops it from giving more? The answer sits in a dozen term sheets and a HUD guide that runs to hundreds of pages. The app puts the published limits from those documents side by side and runs your building through each of them.

Where the numbers come from

Every limit in the app comes from a primary source: Fannie Mae and Freddie Mac term sheets and guides, HUD’s MAP Guide and Mortgagee Letters, the Federal Register, SBA’s SOP and the eCFR. The program page shows each value next to the sentence it came from, with the document’s date and a link. Treasury yields come from the U.S. Treasury’s daily par yield curve.

Where a source publishes no number (a cash-out limit Fannie Mae keeps in a form we couldn’t read, a closing timeline nobody commits to, or any term for bank, CMBS, bridge and DSCR loans), the app says “not published” and doesn’t fill the gap with a guess.

Fannie Mae’s website turns away automated readers, so its term sheets were read from Internet Archive copies of the same files. Those copies are dated on the program page. We re-check them against the live site when we can.

What the app is not

It isn’t a quote, an offer to lend, a commitment or an approval. The rate it uses is a Treasury yield plus a spread you choose; no lender has priced your loan. Real underwriting adjusts NOI, values, reserves and rates in ways a calculator can’t see. The app shows which programs fit and roughly how far apart they are.

Stackup isn’t affiliated with HUD, FHA, Fannie Mae, Freddie Mac or SBA, and nothing here is endorsed by them.

Corrections

If a number here is wrong or out of date, email hello@multifamily.online with the source. We fix errors and change the page’s date when we do.

Who reviews it

Pages are written and checked by the Janover Capital desk.