Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Boston, Massachusetts
Boston Apartment Loans in 2026
Select Commercial specializes in Boston apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.81% and up to 80% LTV. For properties elsewhere in the state, see our Massachusetts apartment loans; for loans over $6 million, see Boston multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Boston
Boston apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Massachusetts apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Boston Apartment Loan Rates
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.16% | Up to 80% |
| 7 Year Fixed | 6.14% | Up to 80% |
| 10 Year Fixed | 6.16% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 5.81% | Up to 75% |
| 7 Year Fixed | 5.79% | Up to 75% |
| 10 Year Fixed | 5.81% | Up to 75% |
- Streamlined underwriting for institutional multifamily
- Cash-out refinances are acceptable
- Interest-only and non-recourse options
- Minimum 1.25x debt-service-coverage ratio
Rates last updated August 11, 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 Boston Apartment Loan Programs
As a broker, we compare every program to find your best-fit Boston apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.16% | 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% | 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 Boston multifamily loans.
2026 Boston Apartment Loan Market: Limited New Supply Supports Ongoing Rental Demand
Boston remains a high-cost, supply-constrained market where fundamentals often hinge on the same drivers lenders underwrite for a Boston apartment loan. In Boston, investors pursuing apartment building loans typically watch employment momentum, the delivery pipeline, vacancy direction, and rent performance to gauge near-term operating conditions.
Employment
Boston's employment base is projected to post a moderate 6,000-job year-end gain in 2026. The growth rate is expected to land near 0.2%, roughly in line with the national average.
Construction and supply
New deliveries are expected to remain limited, with the metro's pipeline running at about two-thirds of the decade-long average. Inventory growth is projected around 1.1%, marking the lowest gain since 2013, which reduces the risk of broad supply pressure.
Vacancy
After a particularly strong 2025, metrowide vacancy is forecast to edge higher to roughly 4.2%. Even with that move, vacancy remains slightly below longer-run averages, keeping the market relatively tight compared to many large metros.
Rent trend
With comparatively slower net absorption expected in 2026, the pace of rent growth is projected to cool. Even so, the average effective rent is forecast to hold near $3,170 per month, keeping Boston among the highest-priced rental markets nationwide.
2026 Boston forecast at a glance:
- Employment: about 6,000 jobs added in 2026, with growth near 0.2%
- Construction: inventory growth around 1.1%, deliveries running below the decade average
- Vacancy: metrowide vacancy forecast to rise moderately to about 4.2%
- Rent: average effective rent projected near $3,170 per month, with growth slowing
Boston Multifamily Loans (Over $6 Million)
For larger Boston 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 Boston 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.
Boston Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Boston 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 Boston
As a full-service commercial mortgage broker, we arrange Boston financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Boston Neighborhoods We Serve
Select Commercial provides apartment loans throughout Boston, Massachusetts and the surrounding area, including:
- Arlington
- Brookline
- Cambridge
- Everett
- Malden
- Medford
- Newton
- Quincy
- Revere
- Somerville
- Waltham
- Weymouth
- Lynn
- Lowell
- Lawrence
- Salem
- Peabody
- Brockton
- Framingham
- Worcester
For other cities in the state, see Massachusetts 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 Boston Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Boston 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