Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
El Paso, Texas
El Paso Apartment Loans in 2026
Select Commercial specializes in El Paso apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 6.16% and up to 80% LTV. For properties elsewhere in the state, see our Texas apartment loans; for loans over $6 million, see El Paso multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in El Paso
El Paso apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Texas apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
El Paso Apartment Loan Rates (Under $6 Million)
| 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 El Paso 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 10, 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 El Paso Apartment Loan Programs
As a broker, we compare every program to find your best-fit El Paso apartment financing. Typical starting points for properties under $6 million:
| 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. For properties over $6 million, see our El Paso multifamily loans.
2026 El Paso Apartment Loan Market: Tight supply keeps vacancy low
El Paso remains one of the tighter apartment markets in the region, where limited new construction has kept vacancy low even as job growth cools.
Employment
The metro added roughly 1,500 jobs in the year ending early 2026, about 0.4 percent growth, though hiring is expected to slow through the year.
Construction and supply
The construction pipeline is thin, with units under construction well below historical norms and only a few hundred units delivered in the most recent year.
Vacancy
Vacancy is expected to stay low, generally in the 4 to 6 percent range.
Rent trend
Average apartment rent is about $1,106 per month, up roughly 1.2 percent year over year.
2026 El Paso forecast at a glance:
- New supply stays limited
- Vacancy holds in a low range
- Rent growth remains modest near 1 to 2 percent
- Job growth cools but stays positive
El Paso Multifamily Loans (Over $6 Million)
For larger El Paso 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 El Paso 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.
El Paso Apartment Loan Types We Serve
Whether you are purchasing or refinancing a El Paso 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 El Paso
As a full-service commercial mortgage broker, we arrange El Paso financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
El Paso Neighborhoods We Serve
Select Commercial provides apartment loans throughout El Paso, Texas and the surrounding area, including:
- Kern Place
- Sunset Heights
- Mission Hills
- Manhattan Heights
- Five Points
- Northeast El Paso
- Lower Valley
- Upper Valley
- Cielo Vista
- Westside
- Montana Vista
- Chihuahuita
- Segundo Barrio
- Coronado
- Eastwood
- Mesa Hills
- Ysleta
- Magoffin
For other cities in the state, see Texas apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
Houston · Dallas · Austin · San Antonio · Lubbock · Plano · Arlington · Fort Worth · All Texas · Other U.S. cities
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 El Paso Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on El Paso 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