Equity Investments, at Fair Value - Schedule of Equity Investments Accounted under the Equity Method (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Fair Value	$ 100,808		$ 104,242
Equity Method Investments | Joint venture equity investments in multi-family properties
Schedule of Equity Method Investments [Line Items]
Fair Value	1,670		5,720
Equity Method Investments | Single-Family Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Fair Value	35,465		37,154
Equity Method Investments | Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Fair Value	$ 137,943		$ 147,116
EHOF-NYMT Sunset Apartments Preferred, LLC | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	57.00%		57.00%
Fair Value	$ 20,129		$ 19,703
Lucie at Tradition Holdings, LLC | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	70.00%		70.00%
Fair Value	$ 19,955		$ 19,442
Syracuse Apartments and Townhomes, LLC | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	58.00%		58.00%
Fair Value	$ 22,055		$ 21,642
Hudson Bridge Apartments, LLC - Series A, Briar Hill Apartments, LLC, Kings Glen Apartments, LLC, Flagstone Apartments, LLC, Brookfield Apartments II, LLC - Series B, and Silber JBSM Properties, LLC (collectively) | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	58.00%		58.00%
Fair Value	$ 10,046		$ 9,882
Tides on 27th Investors, LLC | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	54.00%		54.00%
Fair Value	$ 18,577		$ 17,937
Rapid City RMI JV LLC | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	50.00%		50.00%
Fair Value	$ 10,046		$ 9,804
Palms at Cape Coral, LLC | Equity Method Investments | Multi-Family Preferred Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	0.00%		34.00%
Fair Value	$ 0		$ 5,832
GWR Cedars Partners, LLC | Equity Method Investments | Joint venture equity investments in multi-family properties
Schedule of Equity Method Investments [Line Items]
Ownership Interest	70.00%		70.00%
Fair Value	$ 277		$ 1,897
GWR Gateway Partners, LLC | Equity Method Investments | Joint venture equity investments in multi-family properties
Schedule of Equity Method Investments [Line Items]
Ownership Interest	70.00%		70.00%
Fair Value	$ 1,393		$ 3,823
Constructive Loans, LLC
Schedule of Equity Method Investments [Line Items]
Purchase of residential loans	$ 40,800	$ 16,000
Constructive Loans, LLC | Equity Method Investments | Single-Family Equity Ownership Interests
Schedule of Equity Method Investments [Line Items]
Ownership Interest	50.00%		50.00%
Fair Value	$ 35,465		$ 37,154