Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
California
California Apartment Loans
Select Commercial arranges California apartment loans from $1,500,000, up to 80% LTV, with rates as low as 6.16%. We compare Fannie Mae, Freddie Mac, FHA, bank and bridge programs to fit your property. For loans over $6 million, see multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in California
California apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See California commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
California Apartment Loan Rates
| Loan Type | Rate* | Max LTV |
|---|---|---|
| Apartment 5 Year Fixed | 6.16% | Up to 80% |
| Apartment 7 Year Fixed | 6.14% | Up to 80% |
| Apartment 10 Year Fixed | 6.16% | Up to 80% |
- Rates as low as 6.16% on California apartment loans
- Up to 80% LTV, 85% via FHA/HUD
- Terms and amortizations up to 30 years
- Purchase, refinance and cash-out
- No upfront application or processing fees
- 48-hour written pre-approvals, no cost or obligation
Rates last updated August 6, 2026. Rates and maximum LTV shown represent our best-case pricing scenarios. Actual rates, LTV, and loan terms are subject to underwriting approval and may vary.
Compare California Apartment Loan Programs
As a broker we compare every program for your best-fit California apartment financing:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.16%-6.95% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.15% | Up to 80% | $1M to $7.5M small balance |
| FHA / HUD | 6.12% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.25%-6.50% | Up to 75% | Flexible, value-add |
| Bridge | 9.00% | Up to 80% LTC | Reposition, lease-up |
Most apartment lenders look for a debt-service-coverage ratio (DSCR) of at least 1.25x.
2026 California Apartment Loan Market
Western apartment markets show regional vacancy near 4.2% in 2026 with steady absorption as the pace of new supply slows, supporting stable operating conditions.
Major California markets we finance:
- Concord apartment loans
- Fresno apartment loans
- Lancaster apartment loans
- Long Beach apartment loans
- Los Angeles apartment loans
- Oakland apartment loans
- Pasadena apartment loans
- Riverside apartment loans
- Sacramento apartment loans
- San Bernardino apartment loans
- San Diego apartment loans
- San Francisco apartment loans
- San Jose apartment loans
- Stockton apartment loans
Across California, we arrange apartment building loans from $1,500,000 through agency, bank, FHA and bridge programs. Your rate and leverage are driven by the property’s cash flow and the deal metrics shown above.
California Apartment Loan Types We Serve
We arrange financing across California for:
- Urban high-rise apartment buildings
- Suburban garden apartment complexes
- Small apartment buildings with 5+ units
- Underlying cooperative apartment loans
- Portfolios of small apartment and rental properties
- Mixed-use and other multifamily property
Apartment Loans Across California
We provide apartment loans throughout California, including these markets:
- Concord apartment loans
- Fresno apartment loans
- Lancaster apartment loans
- Long Beach apartment loans
- Los Angeles apartment loans
- Oakland apartment loans
- Pasadena apartment loans
- Riverside apartment loans
- Sacramento apartment loans
- San Bernardino apartment loans
- San Diego apartment loans
- San Francisco apartment loans
- San Jose apartment loans
- Stockton apartment loans
For properties over $6 million, see our multifamily loans; nationwide, we lend in most major U.S. cities.
Recent Apartment Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
Other Property & Loan Types We Finance in California
As a full-service commercial mortgage broker, we arrange California financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
What Our Clients Say
“I am a veterinarian who purchased an existing practice. I was surprised to find a company that offered 100% financing at a good rate, with great terms and rates for medical office financing.”
Carol K. · Chicago, IL“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“Select Commercial offered 100% financing for my medical practice when my bank would have required 20% down. They delivered something my bank could not, and handled everything professionally.”
John C. · Boston, MAGet Your California Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on California apartment loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up