Florida Apartment Loan Rates
Select Commercial offers some of the most competitive Florida apartment loan rates available, with 5, 7, and 10-year fixed-rate options starting as low as 5.77% as of May 12, 2026. As one of the most experienced apartment lenders in Florida, we arrange apartment building loans and apartment building financing for properties valued between $1.5 million and $6 million, with up to 80% LTV, 30-year amortizations, and no upfront fees. For loans over $6 million, see our Florida multifamily loan options.
| FL Apartment Loan Rates Less Than $6 Million | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Apartment Loan 5 Yr Fixed | 5.77% | Up to 80% | |
| Apartment Loan 7 Yr Fixed | 5.80% | Up to 80% | |
| Apartment Loan 10 Yr Fixed | 5.84% | Up to 80% | |
*Rates start as low as the rates stated here. Your rate, LTV, and amortization will be determined by underwriting.
Florida apartment loan rates are priced based on the U.S. Treasury yield curve. As of May 12, 2026, the 10-year Treasury yield is 4.452% and the 5-year Treasury yield is 4.119%, which directly influences current pricing on apartment building loans in Florida.
Want a personalized quote? Click here to request a customized loan quote for your Florida apartment property.
Why Select Commercial Offers Competitive Florida Apartment Loan Rates
When investors search for the best apartment loan rates in Florida, Select Commercial consistently delivers some of the most competitive pricing available for properties under $6 million. We work directly with Fannie Mae Small Loan, Freddie Mac SBL, CMBS conduits, life insurance companies, banks, and credit unions, which means borrowers gain access to a wide network of apartment lenders in Florida rather than the rates of a single bank. This multi-source approach allows us to consistently match borrowers with the lowest available rate and best terms for their specific apartment property.
Our Florida apartment building financing programs include 5, 7, and 10-year fixed-rate options, up to 80% LTV, 30-year amortizations, non-recourse availability, and no upfront fees. Whether you are acquiring, refinancing, or pulling cash out of a stabilized apartment property valued between $1.5 million and $6 million, our team structures apartment building loans tailored to your investment goals.
Need a multifamily loan over $6 million? Visit our Florida multifamily loan page. For other commercial property types, explore our Florida commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
2026 Florida Apartment Loan Market Overview
Entering 2026, Florida remains one of the most active apartment markets in the country. For borrowers evaluating Florida apartment loans, the state continues to benefit from strong in-migration, elevated barriers to homeownership, and persistent renter demand across its major metros. While development activity has been elevated over the past several years, supply is beginning to normalize, allowing apartment building financing to be structured around improving fundamentals in many markets. Select Commercial arranges apartment building loans across Fort Lauderdale, West Palm Beach, Tampa, and the broader Florida market for properties valued between $1.5 million and $6 million.
Fort Lauderdale Remains a Core Anchor for Florida Apartment Loans
Fort Lauderdale continues to set the tone for much of the state's apartment activity. In 2026, the metro is projected to grow employment by 0.7%, deliver roughly 3,300 units, post vacancy near 4.9%, and finish the year with average effective rent around $2,530 per month. For borrowers seeking an apartment building loan, Fort Lauderdale offers a combination of strong rent levels and relatively stable vacancy compared to many Sun Belt markets, which is reflected in how apartment lenders in Florida approach the broader state.
West Palm Beach Adds High-Income Demand and Limited Supply Pressure
West Palm Beach provides another key South Florida reference point. The 2026 outlook calls for approximately 6,000 jobs added, roughly 2,200 units delivered, vacancy near 4.9%, and average effective rent around $2,575 per month. This profile continues to support apartment lenders looking for markets where strong household income and limited home affordability reinforce apartment demand.
Tampa-St. Petersburg Adds Scale and Improving Supply Balance
Tampa-St. Petersburg adds a broader growth component to the Florida apartment market. In 2026, the metro is projected to add about 6,000 jobs, deliver roughly 5,300 units, maintain vacancy near 5.4%, and reach average effective rent around $1,875 per month. For Florida apartment loans, Tampa represents a large-scale market where supply is moderating and demand remains strong.
Rent Levels Remain Elevated Across Florida Markets
Florida continues to offer a wide but elevated rent range across major metros. Fort Lauderdale is projected near $2,530 per month, West Palm Beach near $2,575 per month, and Tampa near $1,875 per month. This range allows borrowers to structure apartment building financing strategies based on either high-income coastal markets or larger, more moderate-growth metros.
2026 Florida Apartment Market at a Glance
- Employment: Fort Lauderdale +0.7%, West Palm Beach +6,000 jobs, Tampa +6,000 jobs
- Construction: Fort Lauderdale ~3,300 units, West Palm Beach ~2,200 units, Tampa ~3,500 units (down sharply from 12,500 in 2024)
- Vacancy: ~4.9% across South Florida; Tampa elevated at ~10.3% but improving as supply contracts
- Rent: ~$2,805 Fort Lauderdale, ~$2,391 West Palm Beach, ~$2,011 Tampa
- Renter base: Renters aged 25 to 34 represent the largest share across all three metros
- Loan size focus: Properties valued between $1.5 million and $6 million across all three Florida metros
For investors comparing Florida apartment loans in 2026, the state reflects a multi-market landscape. South Florida offers strong pricing and stable demand, while Tampa provides scale and an improving supply-demand balance as the construction pipeline contracts sharply. Together, those metros give Select Commercial multiple reference points for structuring apartment building financing across the state.
Fort Lauderdale Florida Apartment Market Snapshot, 2026
City population: approximately 190,641
Renter-occupied households: 37,195 (46% of occupied housing)
Q3 2025 metro vacancy: ~7.6%
Average apartment rent: $2,805 per month (~34%+ above U.S. average)
Year-over-year rent growth: +0.74%
Construction pipeline: ~8,760 units under construction (Q3 2025, mostly Class A luxury)
Cap rates: ~5.6% (Q3 2025)
Median home value: ~$627,850
Fort Lauderdale is one of the most established apartment markets in Florida for apartment loans. The current cycle reflects elevated metro-wide vacancy concentrated in the Class A luxury segment, while Class B and C workforce housing has held considerably tighter at vacancy below 7%. For sponsors evaluating Fort Lauderdale apartment loans, the combination of premium rent levels, strong income-driven demand, and a meaningful gap between luxury and workforce vacancy creates a clear underwriting framework — focus on the mid-tier and stabilized segment where fundamentals remain durable.
What Drives the Fort Lauderdale Florida Apartment Market
Fort Lauderdale continues to benefit from high-income renter demand, limited homeownership affordability, and household income growth of more than 25% since 2020. The metro's economy is supported by finance, professional services, and information-sector jobs, with unemployment holding below 4% through 2025. The current supply cycle has concentrated pressure in the Class A luxury segment, with luxury vacancy reaching approximately 9.2% as of Q1 2025, while Class B and C vacancy has held considerably tighter. Renters holding bachelor's degrees or higher make up approximately 38% of the Fort Lauderdale renter population, supporting a high-income tenant base that benefits apartment lenders in Florida evaluating long-term hold opportunities in this market.
Fort Lauderdale Florida Apartment Rent Levels and Pricing in 2026
As of March 23, 2026, the average apartment rent in Fort Lauderdale is $2,805 per month, up 0.74% from $2,784 the prior year. By unit type: studios average $2,123/month, one-bedrooms average $2,409/month, two-bedrooms average $3,015/month, and three-bedrooms average $3,913/month. Approximately 32% of all Fort Lauderdale rentals are priced above $3,000 per month, with Downtown Fort Lauderdale commanding the highest rents in the city at approximately $4,114/month. Cap rates rose to approximately 5.6% as of Q3 2025, reflecting a more favorable acquisition environment for buyers than at recent cycle peaks. These rent levels, which remain well above the national average, support underwriting for apartment loans on stabilized assets throughout the South Florida corridor.
Fort Lauderdale Apartment Supply, Demand, and Vacancy in 2026
Fort Lauderdale had approximately 8,760 units under construction as of Q3 2025, mostly Class A luxury concentrated near I-95 and Las Olas Boulevard, driving metro-wide vacancy to approximately 7.6%. Demand has rebounded to average over 1,000 units of absorption per quarter since late 2023, demonstrating the underlying strength of renter demand in the market. Lower-rent submarkets including Oakland Park, Lauderhill, Hollywood, and Pompano Beach are posting some of the strongest annual rent gains in the metro as renters shift toward more cost-effective options. For borrowers pursuing apartment building financing in Florida, Fort Lauderdale's stabilized workforce housing segment offers one of the most consistent supply-demand profiles in the state.
Apartment Loan Financing in Fort Lauderdale Florida
Select Commercial arranges Fort Lauderdale Florida apartment loans for properties valued between $1.5 million and $6 million, with programs including Fannie Mae Small Loan, Freddie Mac SBL, CMBS conduit loans, life insurance company capital, and bank financing. Fort Lauderdale's combination of premium rent levels, strong absorption, high-income renter demographics, and a workforce housing segment holding considerably tighter than the headline vacancy creates a constructive environment for apartment building loans on stabilized Class B and C assets. Investors targeting workforce housing in submarkets like Oakland Park, Lauderhill, and Pompano Beach typically find competitive 5, 7, and 10-year fixed-rate options paired with up to 80% LTV, with non-recourse availability on agency programs.
Where Fort Lauderdale Apartment Investors Are Focused
Investors pursuing apartment loans in Fort Lauderdale in 2026 are focusing on long-term holds in supply-constrained workforce housing submarkets, value-add acquisitions in the 1960s and 1970s vintage stock that represents approximately 38% of the city's rental inventory, and income-producing properties where high homeownership barriers support durable renter demand. Annual apartment sales totaled approximately $1.8 billion through Q3 2025, with multiple $100 million-plus trades confirming active institutional appetite. For apartment lenders in Florida evaluating South Florida opportunities, Fort Lauderdale offers a premium rent profile, a highly educated renter base, and a long-term demand foundation that supports strong performance for apartment building loans across the metro.
West Palm Beach Florida Apartment Market Snapshot, 2026
City population: approximately 119,508
Median household income: ~$73,446
Renter-occupied households: 25,153 (50% of occupied housing — one of the most balanced owner-renter splits in Florida)
Average apartment rent: $2,391 per month (~16% above national average)
Year-over-year rent growth: +0.51%
Median home value: ~$369,800
Family households: ~47% of all rentals (25% with children under 18)
West Palm Beach supports strong apartment fundamentals and is one of the most balanced rental markets in Florida for apartment loans. The exact 50/50 owner-renter split is unusually balanced for a major Florida market, and the family-household concentration creates longer tenancies and stronger renewal activity than many Sun Belt markets. For sponsors evaluating West Palm Beach apartment loans, the combination of high-income demographics, proximity to the Palm Beach wealth corridor, and a more controlled supply pipeline than neighboring Fort Lauderdale or Miami creates a stable underwriting environment.
What Drives the West Palm Beach Florida Apartment Market
West Palm Beach continues to attract capital due to strong demographics, proximity to Palm Beach's wealth corridor, and consistent in-migration from higher-cost Northeast and Midwest markets. The city's economy is supported by finance, healthcare, legal services, and a growing technology sector, with Palm Beach County serving as a hub for high-net-worth relocators. Renters in the 25 to 34 age group make up the largest share of the renter pool at 27%, followed by the 35 to 44 age group at 21%. Renters holding bachelor's degrees or higher make up approximately 34% of the renter population. These demographics continue to attract apartment lenders in Florida evaluating Palm Beach County opportunities for long-term income and appreciation.
West Palm Beach Florida Apartment Rent Levels and Pricing in 2026
As of February 21, 2026, the average apartment rent in West Palm Beach is $2,391 per month, up 0.51% from $2,378 the prior year. By unit type: studios average $2,180/month, one-bedrooms average $2,130/month, two-bedrooms average $2,503/month, and three-bedrooms average $3,109/month. Approximately 36% of all West Palm Beach rentals are priced between $1,501 and $2,000 per month, reflecting a rental base that spans workforce and mid-market tiers. Downtown West Palm Beach commands the highest rents in the city at approximately $3,795/month. These rent levels support underwriting for apartment loans across a range of asset classes throughout the South Florida corridor.
West Palm Beach Apartment Supply, Demand, and Vacancy in 2026
West Palm Beach benefits from a more moderate supply pipeline than neighboring Fort Lauderdale and Miami, providing a more controlled supply-demand environment for borrowers seeking Florida apartment building financing. Two-bedroom units make up the largest share of the rental inventory at approximately 45% of all units, the highest two-bedroom concentration among the state's major coastal markets, reflecting the city's family and professional household demographic. Approximately 47% of all West Palm Beach rentals are family households, with 25% including children under 18, supporting longer tenancies and consistent renewal activity that strengthens lender confidence on stabilized assets.
Apartment Loan Financing in West Palm Beach Florida
Select Commercial provides West Palm Beach Florida apartment loans for properties valued between $1.5 million and $6 million, with programs including Fannie Mae Small Loan, Freddie Mac SBL, CMBS conduit loans, life insurance company capital, and bank financing. West Palm Beach's balanced 50/50 owner-renter split, family-oriented renter base, and more controlled construction pipeline make it well suited to long-term fixed-rate apartment building loans on stabilized assets. Sponsors here typically structure around durable family-tenure occupancy and high-income professional demand, with 5, 7, and 10-year fixed-rate options and up to 80% LTV providing the conservative leverage that fits the market's stable demographic profile.
Where West Palm Beach Apartment Investors Are Focused
Investors pursuing apartment loans in West Palm Beach in 2026 are focused on long-term appreciation, income-producing properties with stable cash flow, and value-add acquisitions in the city's 1970s through 2000s vintage stock that represents approximately 50% of total rental inventory. The Flagler-Waterfront District, Pineapple Park, and Prospect Heights submarkets are among the most active for investor activity, combining walkable urban appeal with consistent renter demand. For apartment lenders in Florida evaluating the Palm Beach County market, West Palm Beach offers a premium rent profile, a balanced renter base, and long-term demand fundamentals driven by continued in-migration and homeownership cost barriers that support strong performance for apartment building loans across the metro.
Tampa Florida Apartment Market Snapshot, 2026
City population: approximately 427,538 (growing ~1.54% annually, +10.03% since 2020)
Median household income: ~$75,475
Renter-occupied households: 79,930 (50% of occupied housing)
Q3 2025 metro vacancy: ~10.3%
Average apartment rent: $2,011 per month (March 2026)
Year-over-year rent change: -1.68%
2024 deliveries: ~12,500 units (regional record)
2026 projected deliveries: ~3,500 units (sharp pullback)
2026 projected absorption: ~6,000 units (above 10-year average)
Tampa is Florida's third-largest city and one of the most active growth markets in the state for apartment loans. The market is transitioning from a historic supply wave into a recovery phase, with deliveries projected to fall from a record 12,500 units in 2024 to just approximately 3,500 units in 2026. For sponsors evaluating Tampa apartment loans, the combination of sharply contracting supply, above-average projected absorption, and continued strong population growth positions the market for meaningful occupancy and rent recovery through 2026 and 2027.
What Drives the Tampa Florida Apartment Market
Tampa continues to benefit from strong population growth, infrastructure investment, and a diversifying economy anchored by healthcare, finance, technology, and professional services. The metro absorbed nearly 9,400 units in 2024, setting a new regional record and demonstrating that renter demand remains robust even during periods of peak supply. Net absorption is forecast to remain healthy in 2026, with approximately 6,000 units expected to be absorbed over the year, surpassing Tampa's 10-year average. Renters in the 25 to 34 age group make up the largest share of Tampa's renter pool at 31%, providing a strong long-term demand base. These dynamics continue to attract apartment lenders in Florida evaluating large-market growth opportunities in the state.
Tampa Florida Apartment Rent Levels and Pricing in 2026
As of March 23, 2026, the average apartment rent in Tampa is $2,011 per month, down 1.68% from $2,045 the prior year. By unit type: studios average $1,459/month, one-bedrooms average $1,722/month, two-bedrooms average $2,080/month, and three-bedrooms average $2,630/month. Approximately 33% of all Tampa rentals are priced between $1,501 and $2,000 per month, with the market median two-bedroom rent reaching approximately $1,977/month. The Uptown Tampa submarket commands the highest rents in the city at approximately $3,261/month. These rent levels support underwriting for apartment loans on stabilized assets where the improving supply outlook supports a recovery in effective rents through 2026 and 2027.
Tampa Apartment Supply, Demand, and Vacancy in 2026
Tampa's apartment market is transitioning from a historic supply wave into a recovery phase. After delivering a record approximately 12,500 units in 2024, deliveries are projected to fall sharply to approximately 3,500 units in 2026, reducing competitive pressure on stabilized assets. Metro-wide vacancy stood at approximately 10.3% as of Q3 2025, with Pasco County and Southeast Hillsborough carrying the highest concentration of new supply. Two-bedroom units make up the largest share of the rental inventory at approximately 38% of all units. For borrowers pursuing apartment building financing in Florida, Tampa's sharply contracting pipeline and above-average absorption rate position the market for meaningful occupancy and rent improvement through 2026 and 2027.
Apartment Loan Financing in Tampa Florida
Select Commercial structures Tampa Florida apartment loans for properties valued between $1.5 million and $6 million, with programs including Fannie Mae Small Loan, Freddie Mac SBL, CMBS conduit loans, life insurance company capital, and bank financing. Tampa's sharply contracting supply pipeline, record absorption history, and continued 1.54% annual population growth make it well suited to long-term fixed-rate apartment building financing on stabilized assets and value-add acquisitions at adjusted pricing. Sponsors here typically underwrite around the supply relief trajectory through 2026 and 2027, with 5, 7, and 10-year fixed-rate options and up to 80% LTV providing the leverage that fits the market's recovery profile.
Where Tampa Apartment Investors Are Focused
Investors pursuing apartment loans in Tampa in 2026 are targeting stabilized growth corridor assets, value-add acquisitions at adjusted pricing in oversupplied submarkets, and workforce housing properties where Class B and C vacancy is tighter than the broader market average. The city's 10.03% population increase since 2020 and continued annual growth of approximately 1.54% provide a strong long-term demand foundation. Renters holding bachelor's degrees or higher make up approximately 38% of the Tampa renter population, reflecting an educated, professionally employed tenant base. For apartment lenders in Florida evaluating large-market growth opportunities, Tampa's contracting supply pipeline, record absorption history, and sustained population growth make it one of the most compelling recovery stories for apartment building loans in the state heading into 2027.
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 Florida 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 Florida
At Select Commercial, we arrange financing for a wide range of Florida 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 Florida Borrowers Choose Select Commercial
Thousands of apartment building investors trust Select Commercial for our direct, transparent approach and proven expertise in the Florida 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 Florida Apartment Loans
As of May 12, 2026, Select Commercial offers Florida apartment loan rates starting as low as 5.77% on 5, 7, and 10-year fixed-rate options for apartment properties valued between $1.5 million and $6 million. Final rates depend on loan-to-value ratio (LTV), debt service coverage ratio (DSCR), borrower credit and experience, and current market conditions. View the full Florida apartment loan rate table above for current pricing across loan terms.
Most lenders require a debt service coverage ratio (DSCR) of at least 1.25, good borrower credit, sufficient net worth and liquidity, and prior real estate ownership experience. Loan-to-value (LTV) ratios typically range from 65% to 80% depending on the loan program and current market conditions. Properties with strong occupancy and clean operating financials qualify for the most favorable Florida apartment loan terms.
Most apartment lenders in Florida require a 20% to 25% down payment. Your final loan-to-value ratio will be determined by the property's debt service coverage ratio (DSCR), occupancy, location, and overall financial performance.
A qualified broker like Select Commercial can present your loan to many different capital sources, including banks, credit unions, CMBS conduits, agency lenders (Fannie Mae and Freddie Mac), life insurance companies, and private funds. This multi-source approach increases the odds of approval and helps you secure the most favorable rates and terms available across the Florida apartment lender market.
The process starts with gathering financials including a current rent roll, trailing 12-month income and expense statement, borrower resume, and a personal financial statement. A mortgage broker will analyze your documents and match you with the best lending program for your Florida apartment property. Start with a Free Quote today.
Select Commercial is a leading provider of competitive Florida apartment loan rates for properties valued between $1.5 million and $6 million. Through our access to Fannie Mae Small Loan, Freddie Mac SBL, CMBS, life insurance company, bank, and credit union capital, we consistently match borrowers with the lowest available rate and best terms for their specific apartment property. As of May 12, 2026, our Florida apartment loan rates start as low as 5.77%.
Yes. While this page focuses on apartment loans under $6 million, Select Commercial also arranges larger balance loans for qualified borrowers. Visit our Florida 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 Florida
These agency-backed options offer competitive fixed rates, non-recourse terms, and simplified underwriting for qualified apartment investors.
Florida Apartment Building Financing
Select Commercial provides apartment building financing and Florida commercial mortgages throughout the state of Florida including but not limited to the areas below.