White Plains Apartment Loans
Select Commercial specializes in White Plains apartment loans below $6 million. Whether you're acquiring a small apartment building or complex, we offer competitive rates, low fees, and expert guidance on apartment financing throughout White Plains.
Need a loan over $6 million? Visit our White Plains multifamily loan page. For other commercial property types, explore our New York commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
White Plains Apartment Loan Rates
Below are our current White Plains apartment loan rates for properties between $1.5 million and $6 million. Looking for a larger loan? We also offer multifamily loan programs for White Plains properties over $6 million.
| White Plains Apartment Loan Rates ($1,500,000 - $6,000,000) | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Apartment Loan 5 Yr Fixed | 5.72% | Up to 80% | |
| Apartment Loan 7 Yr Fixed | 5.77% | Up to 80% | |
| Apartment Loan 10 Yr Fixed | 5.86% | 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 White Plains apartment property.
2025 White Plains Apartment Loan Market Overview
White Plains remains a vital rental and business hub in Westchester County. With a walkable downtown, growing housing demand, and continued transit-oriented development, apartment properties under $6 million are in strong demand. Investors are drawn to the city’s balance of urban convenience and suburban quality of life.
White Plains Apartment Loan Rates in 2025
Following the Federal Reserve’s recent rate cuts, borrowers in White Plains are actively pursuing financing for both stabilized and value-add apartment buildings. While short-term rates have declined, long-term fixed rates remain fluid. Local and regional lenders continue to compete aggressively for smaller apartment loan deals below the $6 million range.
White Plains Apartment Market Trends
Downtown White Plains and surrounding neighborhoods such as North Broadway and Fisher Hill are seeing steady investment. Many Class B properties are being renovated to attract professional tenants, while smaller multifamily buildings remain popular among first-time and repeat investors. The city’s expanding corporate presence also supports rental demand.
Current Apartment Rent Prices in White Plains
As of June 2025, average apartment rents in White Plains are competitive within the metro region:
- Studio: $2,050
- One-bedroom: $2,500
- Two-bedroom: $3,150
- Three-bedroom: $3,900
These rental figures support strong cash flow and enable conservative leverage across a variety of property types.
Apartment Housing Supply and Demand in White Plains
With limited land and high construction costs, the supply of smaller apartment buildings remains constrained. The city continues to see new development, but much of it targets the luxury sector. Investors focused on sub-$6 million acquisitions often find opportunity in existing low-rise buildings or small-scale multifamily assets near transit and retail corridors.
Investment Opportunities in White Plains
Whether you’re acquiring a stabilized 8-unit building or renovating a 12-unit property, White Plains offers a resilient rental market with long-term upside. Neighborhoods with access to Metro-North stations and walkable amenities are particularly attractive for investors targeting workforce housing or moderate-income renters.
Securing an Apartment Loan in White Plains with Select Commercial
Select Commercial has deep experience in the Westchester apartment market, including White Plains. We offer tailored financing options for apartment properties under $6 million, whether for purchase, refinance, or renovation. Our team works closely with borrowers to deliver flexible and competitive loan structures.
Contact Select Commercial today to explore your financing options in White Plains and secure the right apartment loan for your next project.
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 White Plains apartment loans. We also actively finance White Plains multifamily loans above $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
What Lenders Look for in a White Plains Apartment Loan
What Lenders Look For
Before you apply for a White Plains apartment 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 Apartment Loan Options
Apartment 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 White Plains 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 Apartment Loan Application Process
We make applying for a White Plains apartment loan fast, clear, and cost-effective. 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 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 includes tax returns, rent rolls, and operating statements.
Step 3: Underwriter Review
Once documents are received, underwriting begins. If your deal qualifies, we issue a written pre-approval. If not, we’ll explain why.
Step 4: Pre-Approval Letter
If approved, we send you a detailed pre-approval letter outlining preliminary terms and any additional requirements.
Step 5: Third-Party Reports
Once pre-approved, the underwriter orders the appraisal and any necessary third-party reports. A good faith deposit is required to cover these costs.
Step 6: Final Submission
When all documentation and reports are in, we finalize underwriting and issue a formal loan commitment.
Step 7: Legal & Closing
Our legal team prepares closing checklists and final conditions. Once satisfied, we schedule the closing.
Step 8: Timeline
Most loans close within 30 to 60 days, depending on the complexity of the deal and speed of document delivery.
Apartment Property Types We Finance in White Plains
At Select Commercial, we arrange financing for a wide range of White Plains 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 White Plains Borrowers Choose Select Commercial
Thousands of apartment building investors trust Select Commercial for our direct, transparent approach and proven expertise in the White Plains 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 apartment financing. His insights and perspectives are regularly featured in leading industry publications. Below are his latest contributions, offering deep analysis on the apartment financing landscape and current market dynamics.
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 Multi-Housing News, Sobin acknowledges that while inflation remains a concern, a softening CPI is a promising signal for the industry. Read the full article.
Commercial Spotlight: Mid-Atlantic Region
Featured in Scotsman Guide, Sobin outlines how shifting investor interest is impacting White Plains and other Mid-Atlantic markets. Read the full article.
What the New Jobs Report Means for CRE
In Commercial Property Executive, Sobin offers perspective on economic uncertainty and buyer-seller hesitancy across the commercial real estate market. Read the full article.
Decoding "Junk Fees" in Rental Housing
In Multi-Housing News, Sobin helps clarify the difference between legitimate third-party fees and misleading “junk fees.” Read the full article.
Understanding the Impact of Federal Reserve's Decisions
In Multi-Housing News, Sobin forecasted the Fed's rate pause, citing recession concerns and recent bank instability. Read the full article.
Stay tuned for more expert insights from Stephen A. Sobin as he continues to share his expertise on apartment finance across White Plains and beyond.
Frequently Asked Questions About White Plains Apartment Loans
White Plains 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 75%, 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 White Plains. For stronger properties or experienced borrowers, higher leverage might be available.
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.
In 2025, many existing apartment loans are maturing with rates far below today’s market. Refinancing may require borrowers to inject cash or seek equity partners. We recommend flexible terms with low prepay penalties so you can refinance again if rates drop.
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.
Other New York Areas We Serve
We proudly serve apartment investors across White Plains, including, but not limited to the following areas:
- Manhattan
- Brooklyn
- Queens
- The Bronx
- Staten Island
- Yonkers
- New Rochelle
- White Plains
- Albany
- Buffalo
- Rochester
- Syracuse
Whether you're financing a smaller building in Buffalo or a large apartment complex in Brooklyn, Select Commercial is ready to help.
Agency Small Balance Apartment Loan Programs
In addition to bank and private capital loans, Select Commercial helps borrowers access top agency small balance loan programs. These include:
- Fannie Mae® Small Loan Program – Designed for properties with 5+ units and loans from $1 million to $6 million
- Freddie Mac® Small Balance Loan (SBL) Program – Streamlined financing up to $6 million
- Apartment Loans Over $6 million – Visit our dedicated White Plains large-balance loan page
These programs offer competitive fixed rates, non-recourse options, and simplified processing for qualified borrowers.