Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Baltimore, Maryland
Baltimore Apartment Loans in 2026
Select Commercial specializes in Baltimore apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 6.07% and up to 80% LTV. For properties elsewhere in the state, see our Maryland apartment loans; for loans over $6 million, see Baltimore multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Baltimore
Baltimore apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Maryland apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Baltimore Apartment Loan Rates (Under $6 Million)
| Loan Type | Rate* | Max LTV |
|---|---|---|
| Apartment 5 Year Fixed | 6.11% | Up to 80% |
| Apartment 7 Year Fixed | 6.09% | Up to 80% |
| Apartment 10 Year Fixed | 6.07% | Up to 80% |
- Rates as low as 6.07% on Baltimore apartment loans
- Up to 80% LTV on apartment financing
- Terms and amortizations up to 30 years
- Purchase and refinance, including cash-out
- No upfront application or processing fees
- 48-hour written pre-approvals, no cost or obligation
Rates last updated August 2026. They apply to typical apartment loans under $6 million; your rate, LTV and amortization are set by underwriting.
Compare Baltimore Apartment Loan Programs
As a broker, we compare every program to find your best-fit Baltimore apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.07% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.09% | Up to 80% | $1M to $7.5M small balance |
| FHA / HUD | 6.11% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.77% | 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. For properties over $6 million, see our Baltimore multifamily loans.
2026 Baltimore Apartment Loan Market: Vacancy Tightens for a Third Straight Year on Minimal New Supply
Baltimore enters 2026 with compressing vacancy and limited supply pressure, though modest employment growth tempers demand. Submarkets around the core and outlying communities like Columbia and Towson are well positioned to handle potential headwinds.
Employment
Baltimore's employment base expands by 3,000 positions in 2026, recovering by year-end from losses that began in 2025.
Construction and supply
The delivery slate adjusts modestly in 2026, translating to a second straight year of 0.6% inventory growth, roughly 1,500 units.
Vacancy
Metro vacancy declines for a third straight year to 4.1%, its lowest level since 2021 and 90 basis points below the trailing decade mean.
Rent trend
The average effective rent rises to $1,813 per month in 2026, a year-over-year increase of about 2.4%.
2026 Baltimore forecast at a glance:
- Employment: about 3,000 new jobs
- Construction: about 1,500 units, inventory growth of 0.6%
- Vacancy: down to 4.1%, lowest since 2021
- Rent: about $1,813 per month, up roughly 2.4%
Baltimore Multifamily Loans (Over $6 Million)
For larger Baltimore apartment properties, we arrange multifamily loans over $6 million through Fannie Mae DUS, Freddie Mac, FHA/HUD and CMBS. These institutional programs offer non-recourse financing, up to 80% LTV and fixed terms up to 30 years, with even longer fully amortizing options through HUD.
See our Baltimore multifamily loans page for over-$6 million financing, or explore Fannie Mae and Freddie Mac agency programs.
Recent Apartment Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
Baltimore Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Baltimore apartment building, we arrange financing for:
- Large urban high-rise apartment buildings
- Suburban garden apartment complexes
- Small apartment buildings with 5+ units
- Underlying cooperative apartment loans
- Portfolios of small apartment and single-family rental properties
- Other multifamily and mixed-use properties
We consider apartment loan requests of all sizes, beginning at $1,500,000.
Other Property & Loan Types We Finance in Baltimore
As a full-service commercial mortgage broker, we arrange Baltimore financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Baltimore Neighborhoods We Serve
Select Commercial provides apartment loans throughout Baltimore, Maryland and the surrounding area, including:
- Fells Point
- Canton
- Federal Hill
- Mount Vernon
- Hampden
- Roland Park
- Locust Point
- Charles Village
- Bolton Hill
- Little Italy
- Highlandtown
- Remington
- Guilford
- Homeland
- Mount Washington
- Butchers Hill
- Patterson Park
- Station North
For other cities in the state, see Maryland apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
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 Baltimore Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Baltimore 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