Maine Apartment Loan Rates
| ME Apartment Loan Rates Less Than $6 Million | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Apartment Loan 5 Yr Fixed | 5.73% | Up to 80% | |
| Apartment Loan 7 Yr Fixed | 5.73% | Up to 80% | |
| Apartment Loan 10 Yr Fixed | 5.79% | Up to 80% | |
*Rates start as low as the rates stated here. Your rate, LTV, and amortization will be determined by underwriting.
Want a personalized quote? Click here to request a customized loan quote for your Maine apartment property.
Need a multifamily loan over $6 million? Visit our Maine multifamily loan page. For other commercial property types, explore our Maine commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
2026 Maine Apartment Loan Market Overview
Entering 2026, Maine presents a supply-constrained apartment market shaped by limited new construction, steady household formation, and persistent renter demand in key coastal metros. For borrowers evaluating apartment loans, the state offers a unique profile compared to larger markets, where constrained inventory and higher construction costs support long-term occupancy and rent stability. This environment continues to favor apartment building financing strategies focused on durable cash flow rather than rapid lease-up cycles.
Development activity across Maine has remained limited relative to demand, particularly in the Portland metro where barriers to new construction are more pronounced. As a result, vacancy has remained tight across many submarkets, supporting consistent rent performance. For apartment lenders, Maine provides an underwriting environment centered on supply constraints, tenant retention, and stable income rather than aggressive growth assumptions.
Portland Anchors Maine Apartment Loans
Portland remains the primary driver of apartment activity across Maine. In 2026, the metro is projected to add approximately 2,000 jobs, deliver roughly 900 units, maintain vacancy near 4.8%, and reach average effective rent around $1,900 per month. For borrowers seeking an apartment building loan, Portland offers a combination of strong renter demand, limited supply, and higher rent levels relative to the broader region.
Lewiston Supports Workforce Housing Demand
Lewiston provides a more affordable apartment market within Maine, supported by healthcare, manufacturing, and local employment. The city has a population of approximately 38,000, median household income near $52,000, median rent around $1,200, and median home value near $260,000. These fundamentals support steady demand for workforce and mid-tier apartment properties.
Bangor Adds Regional Stability
Bangor contributes a smaller but stable apartment market within the state. The city has a population of approximately 32,000, median household income near $50,000, median rent around $1,150, and median home value near $240,000. This supports consistent renter demand and stable performance for income-oriented apartment investments.
Rent Levels Reflect Supply Constraints
Maine continues to show elevated rent levels relative to its size due to limited housing supply. Portland is projected near $1,900 per month, while secondary markets such as Lewiston and Bangor fall into lower affordability tiers. This allows borrowers to structure apartment loans across a range of strategies focused on supply-constrained pricing and consistent occupancy.
2026 Maine Apartment Loan Market Forecast
- Employment: Portland is projected to add approximately 2,000 jobs.
- Construction: Portland is projected to deliver roughly 900 units.
- Vacancy: Vacancy is projected near 4.8%.
- Rent: Average effective rent is projected near $1,900 per month.
For investors comparing apartment loans in Maine, 2026 reflects a market driven by supply constraints and steady demand. Portland provides the primary scale and pricing power, while smaller markets offer complementary opportunities in workforce housing and long-term rental stability.
2026 Portland Maine Apartment Loan Market Overview
Portland is Maine's largest city and the primary driver of apartment loans in Maine, anchoring the state's most active and supply-constrained rental investment market. The city has a population of approximately 70,104 residents as of 2026, growing at approximately 0.38% annually, with the broader Portland-South Portland metro area being the most competitive rental market in New England outside Boston. The median household income is approximately $79,540 and the median property value is approximately $489,600 as of 2024, approximately 100% above the national median. There are approximately 17,531 renter-occupied households in Portland, representing 54% of all occupied housing units. Current data points to an average apartment rent of approximately $1,950 per month as of February 8, 2026, a median rent of approximately $2,100 per month across all unit types, up approximately 5% year-over-year, and a multifamily vacancy rate of approximately 4.5 to 4.9%, one of the tightest among markets of comparable size in the Northeast. These fundamentals position Portland as the most compelling market for Maine apartment loans due to its severe supply constraints and persistent renter demand.
Portland Maine Apartment Loan Rates and Financing in 2026
Financing conditions for Maine apartment loans remain active in Portland in 2026, with lenders favoring stabilized assets with consistent occupancy performance and properties in walkable, transit-accessible neighborhoods close to the city's employment and cultural core. The median property value of approximately $489,600 as of 2024 creates significant homeownership barriers, with Portland's median listing price reaching approximately $650,000 in early 2025 and the median sold price approximately $581,900. Maine's housing affordability ratio is approximately 5.1x, meaning it takes over five years of median household income to afford a median-priced home, channeling a substantial share of the workforce into the rental market. Cap rates are averaging approximately mid-5% heading into 2026. For borrowers seeking an apartment building loan in Portland, the city's chronic supply shortage and premium rent levels provide a strong underwriting foundation within the broader Maine apartment building financing landscape.
Trends in the Portland Maine Apartment Market
Portland continues to benefit from consistent in-migration from higher-cost Northeast markets including Boston and New York, a growing healthcare and technology employment base, and a limited construction pipeline that has kept vacancy structurally tight. Development has tapered off meaningfully year-to-date in 2026, allowing vacancy to decline below 5% for the first time since Q4 2023. Maine statewide rental vacancy was just 2.9% in 2024, the lowest among all states, and Portland's city-level vacancy of approximately 4.5% reflects a similarly constrained environment. Renters in the 25 to 34 age group make up the largest share at 33%, reflecting a young professional and creative class renter base drawn by Portland's quality-of-life reputation. Approximately 51% of Portland renters hold bachelor's degrees or higher, the highest educated renter base among Maine's cities and a strong indicator of income stability and renewal rates. These fundamentals continue to attract Maine apartment lenders evaluating the state's primary market.
Portland Maine Apartment Loan Rent Levels in 2026
As of February 8, 2026, the average apartment rent in Portland is approximately $1,950 per month, up 0.15% from $1,947 the prior year, and the median rent across all property types is approximately $2,100 per month, up approximately 5% year-over-year, approximately 11% above the national average. By unit type: studios average approximately $1,680/month, one-bedrooms average approximately $1,933/month, two-bedrooms average approximately $2,058/month, and three-bedrooms average approximately $2,236/month. Approximately 38% of all Portland rentals are priced between $2,001 and $2,500 per month, reflecting a market where above-national-average rents are the norm. One-bedroom units make up the largest share of the inventory at approximately 41% of all units, consistent with the city's single-professional and young couple renter demographic. These rent levels support consistent underwriting for apartment loans in Maine where limited supply and strong demand anchor premium pricing.
Portland Maine Apartment Loan Supply and Demand in 2026
Portland operates in one of the most supply-constrained rental environments in the United States. The city's multifamily vacancy rate is approximately 4.5 to 4.9%, and new development has tapered off significantly in 2026, allowing already strong vacancy conditions to improve. Approximately 48% of Portland's rental stock was built before 1939, the highest pre-war vintage concentration among major New England cities outside Boston and reflecting a housing stock where new supply is structurally limited by historic preservation constraints, geographic boundaries, and zoning. The number of renters who have stayed in their units for over 10 years rose approximately 5% over the past decade, from 9% to 14%, reflecting the very high cost of moving in a supply-constrained market. For borrowers pursuing apartment building financing in Maine, Portland's exceptional vacancy tightness and inability to materially expand supply support long-term rental income stability on well-located stabilized assets.
Opportunities for Apartment Investment in Portland Maine
Investors pursuing a Maine apartment loan in Portland in 2026 are focused on long-term appreciation and stable income from pre-war and historic building stock, value-add acquisitions in a market where even modest repositioning can support meaningful rent improvement, and stabilized holds in walkable neighborhoods where supply constraints are most acute. Portland's median rent growth of approximately 5% year-over-year as of February 2026 and the city's position as Maine's dominant economic, cultural, and healthcare hub provide durable long-term demand visibility. The average commute of approximately 19 minutes reinforces Portland's compact, walkable appeal for the professional renter base. For Maine apartment lenders evaluating the state's primary market, Portland offers the tightest vacancy environment in New England, a chronically supply-constrained housing stock, and premium rent levels that support strong long-term performance for apartment building loans throughout the metro.
2026 Portland Maine Apartment Loan Market Overview
Portland is Maine's largest city and the primary driver of apartment loans in Maine, anchoring the state's most active and supply-constrained rental investment market. The city has a population of approximately 70,104 residents as of 2026, growing at approximately 0.38% annually, with the broader Portland-South Portland metro area being the most competitive rental market in New England outside Boston. The median household income is approximately $79,540 and the median property value is approximately $489,600 as of 2024, approximately 100% above the national median. There are approximately 17,531 renter-occupied households in Portland, representing 54% of all occupied housing units. Current data points to an average apartment rent of approximately $1,950 per month as of February 8, 2026, a median rent of approximately $2,100 per month across all unit types, up approximately 5% year-over-year, and a multifamily vacancy rate of approximately 4.5 to 4.9%, one of the tightest among markets of comparable size in the Northeast. These fundamentals position Portland as the most compelling market for Maine apartment loans due to its severe supply constraints and persistent renter demand.
Portland Maine Apartment Loan Rates and Financing in 2026
Financing conditions for Maine apartment loans remain active in Portland in 2026, with lenders favoring stabilized assets with consistent occupancy performance and properties in walkable, transit-accessible neighborhoods close to the city's employment and cultural core. The median property value of approximately $489,600 as of 2024 creates significant homeownership barriers, with Portland's median listing price reaching approximately $650,000 in early 2025 and the median sold price approximately $581,900. Maine's housing affordability ratio is approximately 5.1x, meaning it takes over five years of median household income to afford a median-priced home, channeling a substantial share of the workforce into the rental market. Cap rates are averaging approximately mid-5% heading into 2026. For borrowers seeking an apartment building loan in Portland, the city's chronic supply shortage and premium rent levels provide a strong underwriting foundation within the broader Maine apartment building financing landscape.
Trends in the Portland Maine Apartment Market
Portland continues to benefit from consistent in-migration from higher-cost Northeast markets including Boston and New York, a growing healthcare and technology employment base, and a limited construction pipeline that has kept vacancy structurally tight. Development has tapered off meaningfully year-to-date in 2026, allowing vacancy to decline below 5% for the first time since Q4 2023. Maine statewide rental vacancy was just 2.9% in 2024, the lowest among all states, and Portland's city-level vacancy of approximately 4.5% reflects a similarly constrained environment. Renters in the 25 to 34 age group make up the largest share at 33%, reflecting a young professional and creative class renter base drawn by Portland's quality-of-life reputation. Approximately 51% of Portland renters hold bachelor's degrees or higher, the highest educated renter base among Maine's cities and a strong indicator of income stability and renewal rates. These fundamentals continue to attract Maine apartment lenders evaluating the state's primary market.
Portland Maine Apartment Loan Rent Levels in 2026
As of February 8, 2026, the average apartment rent in Portland is approximately $1,950 per month, up 0.15% from $1,947 the prior year, and the median rent across all property types is approximately $2,100 per month, up approximately 5% year-over-year, approximately 11% above the national average. By unit type: studios average approximately $1,680/month, one-bedrooms average approximately $1,933/month, two-bedrooms average approximately $2,058/month, and three-bedrooms average approximately $2,236/month. Approximately 38% of all Portland rentals are priced between $2,001 and $2,500 per month, reflecting a market where above-national-average rents are the norm. One-bedroom units make up the largest share of the inventory at approximately 41% of all units, consistent with the city's single-professional and young couple renter demographic. These rent levels support consistent underwriting for apartment loans in Maine where limited supply and strong demand anchor premium pricing.
Portland Maine Apartment Loan Supply and Demand in 2026
Portland operates in one of the most supply-constrained rental environments in the United States. The city's multifamily vacancy rate is approximately 4.5 to 4.9%, and new development has tapered off significantly in 2026, allowing already strong vacancy conditions to improve. Approximately 48% of Portland's rental stock was built before 1939, the highest pre-war vintage concentration among major New England cities outside Boston and reflecting a housing stock where new supply is structurally limited by historic preservation constraints, geographic boundaries, and zoning. The number of renters who have stayed in their units for over 10 years rose approximately 5% over the past decade, from 9% to 14%, reflecting the very high cost of moving in a supply-constrained market. For borrowers pursuing apartment building financing in Maine, Portland's exceptional vacancy tightness and inability to materially expand supply support long-term rental income stability on well-located stabilized assets.
Opportunities for Apartment Investment in Portland Maine
Investors pursuing a Maine apartment loan in Portland in 2026 are focused on long-term appreciation and stable income from pre-war and historic building stock, value-add acquisitions in a market where even modest repositioning can support meaningful rent improvement, and stabilized holds in walkable neighborhoods where supply constraints are most acute. Portland's median rent growth of approximately 5% year-over-year as of February 2026 and the city's position as Maine's dominant economic, cultural, and healthcare hub provide durable long-term demand visibility. The average commute of approximately 19 minutes reinforces Portland's compact, walkable appeal for the professional renter base. For Maine apartment lenders evaluating the state's primary market, Portland offers the tightest vacancy environment in New England, a chronically supply-constrained housing stock, and premium rent levels that support strong long-term performance for apartment building loans throughout the metro.
2026 Bangor Maine Apartment Loan Market Overview
Bangor is Maine's third-largest city and a stable secondary market for apartment loans in Maine, anchored by healthcare, education, retail, and regional transportation employment. The city has a population of approximately 32,809 residents as of 2026 with a median household income of approximately $59,942 and a median property value of approximately $219,600 as of 2024. Approximately 54% of Bangor's households are renter-occupied, making it a majority-renter city despite its modest size, one of the highest renter-occupied rates among Maine's cities. Current data points to an average apartment rent of approximately $1,286 per month for one-bedrooms as of mid-2025, and tracked 4-plus-unit submarket vacancy that fell to approximately 1.9%, the tightest reading in Maine, with average rents up approximately 3.4% year-over-year. Maine statewide vacancy of approximately 2.9% in 2024 was the lowest among all states, and Bangor's submarket vacancy tightened well below even that already-constrained statewide figure. These conditions continue to support consistent demand for Maine apartment loans in the Bangor corridor.
Bangor Maine Apartment Loan Rates and Financing in 2026
For borrowers seeking an apartment building loan in Bangor, the market supports financing across smaller income-oriented properties, workforce housing communities, and stabilized assets anchored by the city's healthcare and university employment base. The median property value of approximately $219,600 as of 2024 is approximately 10% below the national median and well below Portland's approximately $489,600, creating a notably lower per-unit acquisition cost environment that supports favorable initial yields relative to Maine's primary market. The HUD Fair Market Rent for the Bangor area ranges from approximately $1,244 to $2,242 depending on unit size, a range that reflects the market's compressed vacancy and upward rent pressure. Only approximately 18 of 1,586 tracked units in the Bangor submarket are Class A, with the vast majority being older workforce stock, providing a clear and well-defined underwriting environment for borrowers evaluating Maine apartment building financing in a smaller secondary market.
Trends in the Bangor Maine Apartment Market
Bangor's rental market benefits from three durable demand pillars: healthcare and social assistance at approximately 3,682 workers, the largest employment sector in the city, anchored by Eastern Maine Medical Center and a network of regional health services; educational services at approximately 2,210 workers, anchored by Husson University, Eastern Maine Community College, and the University of Maine in the broader metro; and retail trade at approximately 2,200 workers. Bangor International Airport, which recorded approximately 14,673 commercial operations and over 10,986 military operations annually, adds a consistent transportation and defense-related employment base. The city's median age of approximately 41 years reflects a more established, stable renter tenure profile, and renters in the 25 to 34 age group make up the largest active renter cohort at 27%. Employment in Bangor grew approximately 1.73% year-over-year from 2023 to 2024. These fundamentals continue to attract Maine apartment lenders evaluating the state's secondary market opportunities.
Bangor Maine Apartment Loan Rent Levels in 2026
Current rent data as of mid-2025 through early 2026 shows one-bedroom apartments averaging approximately $1,286 per month, studios averaging approximately $781 per month, two-bedrooms averaging approximately $1,193 per month, and three-bedrooms averaging approximately $1,375 per month. The HUD Fair Market Rent for the Bangor area ranges from approximately $1,244 to $2,242 per month across unit sizes as of 2025, reflecting upward pricing pressure consistent with the submarket's constrained vacancy. Class A units within the tracked 4-plus-unit submarket average approximately $2,552 per month with a 5.5% vacancy rate, while the broader workforce stock trades at a significant discount with vacancy near 1.9%. Average rents across tracked units increased approximately 3.4% year-over-year, one of the stronger rent growth readings among comparably sized Maine cities. These dynamics support consistent underwriting for apartment loans in Maine where tight vacancy and healthcare-anchored employment drive stable occupancy.
Bangor Maine Apartment Loan Supply and Demand in 2026
Bangor operates in one of the tightest rental supply environments in Maine. The tracked 4-plus-unit submarket vacancy fell to approximately 1.9%, the tightest in the state, and the overall city vacancy rate is approximately 7% across all unit types including single-family rentals, but for purpose-built apartment inventory the figure is far more constrained. Critically, there are currently no properties under construction in the Bangor submarket, meaning no new supply is in the pipeline to relieve the vacancy tightness in the near term. The city's rental stock skews heavily toward older vintage, with the vast majority of the approximately 1,586 tracked units being pre-2010 assets. The homeownership rate of approximately 47.2% reflects a majority-renter city. For borrowers pursuing apartment building financing in Maine, Bangor's zero-construction pipeline, sub-2% tracked vacancy, and 3.4% rent growth provide an unusually clear and favorable supply-demand underwriting environment for a market of its size.
Opportunities for Apartment Investment in Bangor Maine
Investors pursuing a Maine apartment loan in Bangor in 2026 are focused on consistent cash flow from workforce housing assets near Eastern Maine Medical Center and the city's university corridor, long-term holds in a market where zero new supply and sub-2% vacancy support durable rent growth, and value-add acquisitions in the large pre-1980 vintage rental stock where modest capital improvements can drive meaningful yield improvement. The city's average commute of approximately 16.6 minutes is the shortest in Maine, reinforcing Bangor's compact and accessible appeal for workforce renters. For Maine apartment lenders evaluating the state's secondary markets, Bangor offers the tightest tracked submarket vacancy in Maine, a completely inactive construction pipeline, and consistent income stability that supports strong long-term performance for apartment building loans throughout the metro.
Why Choose Select Commercial for Apartment Loans
What sets Select Commercial apart from traditional lenders and large banks? In this short video, we highlight the key reasons apartment building investors choose to work with us for Maine apartment loans between $1.5 million and $6 million. We also actively finance multifamily loans exceeding $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 apartment lenders, not just one bank
- Loan structures tailored to your property and investment goals
Apartment Property Types We Finance in Maine
At Select Commercial, we arrange financing for a wide range of Maine apartment buildings, from smaller 5+ unit walkups to large portfolios of rental properties. Whether your property is urban, suburban, or mixed-use, we can help you secure the right loan structure based on your investment goals.
- Urban mid-rise and high-rise apartment buildings
- Suburban garden-style apartment complexes
- Small apartment buildings with 5+ units
- Mixed-use properties with residential and limited commercial space
- Underlying co-op apartment building loans
- Portfolios of small apartment or single-family rental properties
- Stabilized buildings with strong cash flow and rent history
If you're not sure whether your property qualifies, contact us for a free quote and we'll review your deal and let you know within 24 hours.
Recent Apartment Loan Closings
Why Maine Borrowers Choose Select Commercial
Thousands of apartment building investors trust Select Commercial for our direct, transparent approach and proven expertise in the Maine apartment loan market. We're not just brokers, we provide personalized service, fast answers, and access to top institutional lenders without the bureaucracy of traditional banks.
- Over 30 years of apartment loan experience with a national platform
- No upfront fees and fast pre-approvals, often within 24 hours
- Direct access to top lenders offering aggressive terms
- Dedicated support from quote to closing
Want to see why so many clients return to us for their next deal? Start with a free quote – we'll review your scenario and respond quickly.
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 Maine Apartment Loans
Maine apartment loan rates vary depending on several factors such as loan-to-value ratio (LTV), property type, borrower experience, and market conditions. As of 2025, rates remain elevated due to ongoing inflation concerns, but borrowers with strong credit and high-quality assets can still find competitive pricing. Check our latest apartment loan rates for current updates.
Most lenders require a DSCR of at least 1.25, good borrower credit, net worth, liquidity, and experience. Loan-to-value ratios in 2025 typically range from 65% to 80%, due to elevated interest rates. Properties with strong occupancy and clean financials stand a better chance of qualifying.
Most lenders require 20% to 25% down for apartment loans in Maine. Your loan-to-value ratio will be subject to the property's debt service coverage ratio.
A qualified broker like Select Commercial can present your loan to many different capital sources, including banks, credit unions, CMBS, agency lenders, and private funds. This increases the odds of approval and helps you secure the most favorable terms available.
The process starts with gathering financials like a rent roll, trailing 12-month income and expense statement, borrower resume, and net worth statement. A mortgage broker will analyze your documents and match you with the best lending program. Start with a Free Quote today.
Absolutely. While this page focuses on apartment loans under $6 million, Select Commercial also arranges smaller balance loans for qualified borrowers. Visit our multifamily loan page for options over $6 million.
Agency Small Balance Apartment Loan Programs
Select Commercial connects borrowers with top-tier agency small balance loan programs in addition to bank and private capital options. Featured programs include:
- Fannie Mae® Small Loan Program – For apartment properties with 5+ units and loan sizes from $1 million to $6 million
- Freddie Mac® Small Balance Loan (SBL) Program – Streamlined financing solutions up to $6 million
- Loans Over $6 Million – Explore large-balance apartment loan programs in Maine
These agency-backed options offer competitive fixed rates, non-recourse terms, and simplified underwriting for qualified apartment investors.
Maine Apartment Building Financing
Select Commercial provides apartment building financing and Maine commercial mortgages throughout the state of Maine including but not limited to the areas below.