Utah Multifamily Loan Rates
| UT Multifamily Loan Rates More Than $6 Million | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily Loan 5 Yr Fixed | 5.30% | Up to 80% | |
| Multifamily Loan 7 Yr Fixed | 5.34% | Up to 80% | |
| Multifamily Loan 10 Yr Fixed | 5.40% | Up to 80% | |
*Rates start as low as shown and are based on underwriting criteria, borrower experience, and property strength.
Ready to get started? Click here to request a customized loan quote for your Utah multifamily property.
Need a loan under $6 million? Visit our Utah apartment loan page. For other commercial property types, explore our Utah commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
Why Choose Select Commercial for Multifamily Loans
What sets Select Commercial apart from traditional lenders and large banks? In this short video, we highlight the key reasons multifamily building investors choose to work with us for Utah multifamily loans over $6 million. We also actively finance apartment building loans below $6 million.
Here’s what the video touches on:
- No upfront application or processing fees
- Fast written pre-approvals often within 24 hours
- Access to a wide range of multifamily lenders, not just one bank
- Loan structures tailored to your property and investment goals
2026 Utah Multifamily Loan Market Overview
Entering 2026, Utah continues to stand out as one of the strongest Western markets for Utah multifamily loans, driven by population growth, a young workforce, and continued expansion across technology, finance, and healthcare sectors. For borrowers evaluating multifamily financing, the state offers consistent renter demand along the Wasatch Front, particularly in Salt Lake City, Provo, and Ogden.
While development activity has been elevated over the past few years, new supply is beginning to moderate across several key submarkets. Absorption remains steady, particularly in well-located Class A and mid-tier assets. For Utah multifamily lenders, this creates an underwriting environment focused on long-term growth, strong household formation, and the sustainability of renter demand across a rapidly expanding regional economy.
Salt Lake City Anchors Utah Multifamily Loans
Salt Lake City remains the primary driver of multifamily activity across Utah. In 2026, the metro is projected to add approximately 18,000 jobs, deliver roughly 6,000 units, maintain vacancy near 6.2%, and reach average effective rent around $1,550 per month. For borrowers seeking a multifamily loan, Salt Lake City offers strong population growth, economic diversity, and sustained renter demand across urban and suburban submarkets.
This positions Salt Lake City as the central lending hub within Utah, supporting a wide range of multifamily loan structures from stabilized assets to new development.
Provo Adds Technology and University Demand
Provo contributes a rapidly growing multifamily market supported by Brigham Young University and a strong technology presence. The city has a population of approximately 115,000, median household income near $70,000, median rent around $1,400, and median home value near $420,000. These fundamentals support strong renter demand and continued absorption of new units.
For investors, Provo stands out as a growth-oriented market where student housing, workforce housing, and technology-driven demand intersect.
Ogden Provides Affordability and Workforce Demand
Ogden offers a more affordable multifamily market within the Wasatch Front corridor. The city has a population of approximately 90,000, median household income near $60,000, median rent around $1,300, and median home value near $350,000. This supports steady renter demand and positions the market well for workforce housing investment strategies.
Ogden continues to attract renters priced out of higher-cost areas while still benefiting from regional job growth and commuter accessibility.
Rent Levels Reflect Western Growth Markets
Utah continues to show rising rent levels driven by population growth and economic expansion. Salt Lake City is projected near $1,550 per month, with Provo and Ogden slightly lower depending on submarket conditions. This allows borrowers to structure multifamily commercial real estate loans across both growth-oriented and workforce housing strategies.
This pricing flexibility gives lenders and investors multiple entry points across Utah, from higher-growth urban assets to more stable, affordability-driven multifamily properties.
2026 Utah Multifamily Loan Market Forecast
- Employment: Salt Lake City is projected to add approximately 18,000 jobs.
- Construction: Salt Lake City is projected to deliver roughly 6,000 units.
- Vacancy: Vacancy is projected near 6.2%.
- Rent: Average effective rent is projected near $1,550 per month.
For investors comparing Utah multifamily loans, 2026 reflects a market driven by long-term population growth and economic expansion. Salt Lake City provides the primary scale, while Provo and Ogden offer complementary opportunities tied to education, technology, and affordability-driven demand.
2026 Salt Lake City Utah Multifamily Loan Market Overview
Salt Lake City is the core multifamily market in Utah and supports strong demand for multifamily loans.
Salt Lake City Utah Multifamily Loan Rates and Financing in 2026
Financing remains active for stabilized and growth assets supported by strong population trends.
Trends in the Salt Lake City Utah Multifamily Loan Market
Technology growth, population inflows, and economic expansion continue to support leasing activity.
Salt Lake City Utah Multifamily Loan Rent Levels in 2026
Average rent is projected near $1,550.
Salt Lake City Utah Multifamily Loan Supply and Demand
Supply remains active with balanced absorption across most submarkets.
Opportunities for Multifamily Investment in Salt Lake City Utah
Investors focus on growth, long-term demand, and strong regional fundamentals.
2026 Provo Utah Multifamily Loan Market Overview
Provo offers a growing multifamily market driven by university and technology demand.
Provo Utah Multifamily Loan Rates and Financing in 2026
Lenders favor growth-oriented assets with strong renter demand.
Trends in the Provo Utah Multifamily Loan Market
Technology expansion and university presence continue to support leasing activity.
Provo Utah Multifamily Loan Rent Levels in 2026
Median rent is approximately $1,400.
Provo Utah Multifamily Loan Supply and Demand
Supply remains balanced with steady occupancy.
Opportunities for Multifamily Investment in Provo Utah
Investors focus on growth and long-term demand.
2026 Ogden Utah Multifamily Loan Market Overview
Ogden provides a more affordable multifamily market within the Wasatch Front region.
Ogden Utah Multifamily Loan Rates and Financing in 2026
Financing remains favorable for workforce housing and income-focused assets.
Trends in the Ogden Utah Multifamily Loan Market
Affordability and regional population growth support leasing activity.
Ogden Utah Multifamily Loan Rent Levels in 2026
Median rent is approximately $1,300.
Ogden Utah Multifamily Loan Supply and Demand
Supply remains balanced with steady demand across the market.
Opportunities for Multifamily Investment in Ogden Utah
Investors focus on stable income, affordability-driven demand, and long-term growth potential.
What Lenders Look for in a Utah Multifamily Loan
What Lenders Look For
Before you apply for a Utah Multifamily loan, it helps to understand what lenders are actually evaluating. In this short video, Select Commercial President Stephen Sobin outlines the key borrower and property qualifications that influence approval.
Watch to learn:
- What makes a loan request stand out or get rejected
- The importance of cash flow, occupancy, and borrower experience
- Which documents lenders require to issue a pre-approval
Understanding Your Multifamily Loan Options
Multifamily Loan Lending Options
Not all multifamily loans are created equal. In this short video, Stephen Sobin explains the most common types of multifamily loan programs and when each one makes the most sense for Utah borrowers.
- Bank vs. agency vs. private multifamily lenders
- Short-term vs. long-term fixed-rate options
- How to structure your loan based on your property and investment goals
Our Utah Multifamily Loan Process
We make applying for a Utah multifamily loan fast, transparent, and cost-effective. Our process is designed for borrowers seeking large balance multifamily financing backed by experienced multifamily lenders. Below is a step-by-step overview of what to expect when working with Select Commercial:
Step 1: Initial Screening
During an introductory call or email, we gather the basics of your transaction. If the request doesn’t meet multifamily loan guidelines, we’ll let you know right away.
Step 2: Document Request
If eligible, we’ll send a short checklist to review your financials, credit, and property cash flow. This helps us evaluate your multifamily commercial real estate loan scenario.
Step 3: Underwriter Review
Once documents are received, underwriting begins. If your multifamily loan qualifies, we issue a written pre-approval. If not, we’ll explain why.
Step 4: Pre-Approval Letter
If approved, we send a detailed pre-approval letter outlining preliminary terms and any additional documentation needed.
Step 5: Third-Party Reports
Once pre-approved, the underwriter orders the appraisal and other required third-party reports. A good faith deposit is collected to cover these costs.
Step 6: Final Submission
Once all documentation and reports are in, underwriting is finalized and a formal multifamily loan commitment is issued.
Step 7: Legal & Closing
Our legal team prepares the closing checklist and any final conditions. Once satisfied, we move forward with closing.
Step 8: Timeline
Most multifamily loans close within 30 to 60 days, depending on deal complexity and how quickly documents are submitted.
Multifamily Property Types We Finance in Utah
At Select Commercial, we provide multifamily financing for a broad range of Utah multifamily properties, from stabilized 5+ unit buildings to large-scale portfolios. Whether your asset is urban, suburban, or mixed-use, we tailor each multifamily commercial real estate loan to match your investment strategy and property type.
- Urban mid-rise and high-rise multifamily buildings
- Suburban garden-style multifamily complexes
- Small multifamily buildings with 5+ units
- Mixed-use properties with residential and limited commercial space
- Underlying co-op building loans
- Portfolios of small multifamily or single-family rental properties
- Stabilized properties with solid cash flow and rent history
If you're unsure whether your property qualifies for a multifamily loan, contact us for a free quote and we'll review your deal within 24 hours.
Recent Multifamily Loan Closings
Our Reviews
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a renowned expert in the field of multifamily financing. His insights and perspectives are regularly sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.
Navigating Opportunity, Risk as 2025 Winds Down
In an article for Commercial Property Executive titled "Navigating Opportunity, Risk as 2025 Winds Down", Sobin explains as we head into the final stretch of 2025, the commercial real estate industry stands at a pivotal moment. After several years of upheaval—from pandemic disruptions to aggressive Federal Reserve rate hikes and lasting shifts in how people live and work—the sector is entering a new phase.
Why Lower Rates Haven't Fixed Commercial Real Estate
In an article for Wealth Management titled "Why Lower Rates Haven't Fixed Commercial Real Estate", Sobin explains that even as the Federal Reserve has begun cutting rates and borrowing costs should be falling, the commercial real estate sector remains locked in a frustrating stalemate. For high-net-worth investors trying to time the market, he emphasizes that understanding this disconnect requires looking beyond the headlines.
Why the Fed Rate Cut’s a Game Changer for CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that after months of speculation and market anticipation, the Federal Reserve finally pulled the trigger last week, cutting the federal funds rate by 25 basis points to 4.00 to 4.25 percent. read the full article.
Inflation's Current Impact on Apartment
In an article featured in Multi-Housing News, Sobin explains how commercial mortgage rates continue to challenge investors, with elevated inflation depressing real estate market activity. Read the full article.
Will the July Jobs Report Pressure the Fed to Act?
Sobin noted in Multi-Housing News that unemployment hit a three-year high and job creation slowed significantly, factors that could push the Fed to reconsider future rate hikes. Read the full article.
Persistent Inflation and Its Effects on CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that while inflation is still a challenge for the Federal Reserve, there are many positive signs for the commercial real estate industry. The headline Consumer Price Index rose 3.2 percent for the year ended Feb. 29, a figure 20 basis points lower than the Dec. 31, 2023, rate. read the full article.
Commercial Spotlight: Mid-Atlantic Region In this four-state powerhouse, smaller metros are thriving.
In a feature in Scotsman Guide, the Mid-Atlantic Region's real estate dynamics are explored, highlighting its resilience and growth amidst the pandemic.
Stephen Sobin of Select Commercial Funding LLC shared insights on the New York market's allure and the challenges buyers face. He noted the shift from primary urban areas to tertiary markets due to evolving preferences and financial conditions. For a deeper dive into Sobin's analysis, read the full article.
What the New Jobs Report Means for CRE
In an article titled "What the New Jobs Report Means for CRE" in Commercial Property Executive, Stephen Sobin shared his perspective on the latest jobs report and its implications for the Commercial Real Estate (CRE) sector. He highlighted the challenges posed by high interest rates and the prevailing uncertainty in the market. Sobin remarked, "Sellers aren’t selling, buyers aren’t buying... Everyone is waiting because no one knows what to expect." For a detailed analysis and more of Sobin's insights, read the full article.
Decoding "Junk Fees" in Rental Housing
In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.
Understanding the Impact of Federal Reserve's Decisions
In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.
Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.
Frequently Asked Questions About Utah Multifamily Loans
Multifamily loan rates in Utah depend on several factors including loan size, property condition, borrower strength, and leverage. As of 2025, interest rates remain elevated due to persistent inflation, but high-quality borrowers with strong assets can still secure competitive terms. For other property types, view our latest commercial mortgage rates for updates.
Lenders generally require a DSCR of 1.25 or better, strong borrower credit, relevant experience, and post-closing liquidity. For large balance multifamily commercial real estate loans, loan-to-value ratios typically range from 65% to 80%, depending on cash flow.
Large balance multifamily financing requires tailored solutions. Select Commercial works with a wide range of capital sources, including banks, life companies, CMBS, agency, and private lenders, giving you access to more options, better terms, and higher certainty of execution.
The process begins with a review of property-level financials, including a current rent roll, trailing 12-month operating statement, borrower net worth, liquidity, and experience. Our team quickly assesses eligibility and provides a pre-approval when qualified. Start with a Free Quote today.
Select Commercial also specializes in loans under $6 million. If you're refinancing a smaller apartment loan, we can help structure multifamily financing with competitive rates and flexible terms. Visit our Utah apartment loan page for details.
Agency Large‑Balance Multifamily Loan Programs (Over $6 Million)
Select Commercial connects borrowers with premier agency-backed large-balance multifamily loan programs, perfect for financing institutional-scale properties across Utah and beyond.
- Fannie Mae® Multifamily (DUS® platform) – Large‑balance non‑recourse multifamily financing, including fixed, floating, hybrid‑ARM, and interest‑only options
- Freddie Mac® Multifamily – Comprehensive large‑balance multifamily financing (fixed and floating) with up to $250 M in loan capacity
These agency programs offer non‑recourse structures, competitive fixed or floating rates, strong leverage (typically up to ~80 % LTV), and streamlined execution, ideal for experienced investors pursuing well‑performing multifamily assets.
Looking for loans under $6 million? Visit our dedicated Utah apartment loan page for smaller-balance financing options.
Utah Multifamily Financing
Select Commercial provides multifamily loans and Utah commercial mortgages throughout the state of Utah including but not limited to the areas below.