Fort Lauderdale Apartment Loans

Fort Lauderdale Apartment Loan Rates - Rates updated September 27th, 2023

Fort Lauderdale Apartment Loan Rates Over $6,000,000 Rates (start as low as) LTV
Apartment 5 Year Fixed Loan Rates 6.00% Up to 80% Get Free Quote
Apartment 7 Year Fixed Loan Rates 5.90% Up to 80% Get Free Quote
Apartment 10 Year Fixed Loan Rates 5.84% Up to 80% Get Free Quote
Fort Lauderdale Apartment Loan Rates Under $6,000,000 Rates (start as low as) LTV
Apartment 5 Year Fixed Loan Rates 6.31% Up to 80% Get Free Quote
Apartment 7 Year Fixed Loan Rates 6.21% Up to 80% Get Free Quote
Apartment 10 Year Fixed Loan Rates 6.10% Up to 80% Get Free Quote

Frequently Asked Questions

Is multi-family real estate a good investment in 2023?

Inflation fears, high interest rates, and the prospect of recession have slowed the pace of the commercial real estate market considerably. Some property types are outperforming others. Apartment buildings in desirable neighborhoods are performing well, as owners have been able to raise rents and keep up with rising interest rates. Multifamily properties in smaller and less desirable areas, or areas where unemployment is rising, are not performing as well, as rent increases are harder to implement. In the office sector, only medical office buildings are generating lender interest. General office properties have underperformed the market as a result of the work from home policies established during the Covid-19 pandemic. Office demand is unlikely to return to pre-Covid levels making the office sector extremely hard to navigate right now. In the retail sector, essential service businesses, such as grocery stores and pharmacies, are performing well, while traditional brick and mortar retailers are still feeling the effects of Covid-19 and the competition from online retailers. Many malls are experiencing record high vacancy levels, and some are being repositioned for other purposes. In the industrial sector, we are seeing strong demand for warehouse and distribution space to accommodate the online retailers. Industrial space in urban markets and close to transportation are performing very well. We expect to see sales prices for underperforming properties to drop in 2023 as investors gravitate to better positioned properties.


There are many different types of lenders offering a myriad of different loan products to finance the acquisition or refinance of apartment properties nationwide. These lenders include agency lenders (Fannie Mae and Freddie Mac), local and national banks, insurance companies, credit unions and private lenders.

Most lenders write apartment loans for five, seven or ten years (fixed) with a 30 year amortization. It is also possible to obtain loans that are fixed for up to 30 years, although this is not the norm. Rates are typically based on a margin over the corresponding US Treasury rate.

Lenders offer non-recourse to strong borrowers and solid properties. The borrower will be expected to have strong credit, good net worth and liquidity, and experience owning and managing similar properties. The property will be expected to demonstrate solid long term positive cash flow, be in good to excellent condition, and be located in a strong market with low vacancy rates.

Apartment loans are typically screened and pre-approved in 2-3 days. Since lenders require appraisals, environmental and property condition reports, and title, closings will usually take 45-60 days from application.

How do we help our clients needing financing for a multifamily apartment building get the best rate and terms?

Fort Lauderdale Apartment Building Fort Lauderdale
Apartment Loan

Select Commercial has excellent Fort Lauderdale apartment loan products and options available for owners and purchasers in need of multifamily properties throughout the city of Fort Lauderdale. Whether you need an apartment lender to finance a small apartment property, a complex with hundreds of units, or a co-operative, we can help you find the optimal apartment loan solution to meet your apartment loan needs. While we lend across the entire continental US, we are able to give our best rates and loan programs to certain areas that we feel are strong markets. Fort Lauderdale is one of the cities that we consider to be a premium market and we actively look to originate good quality apartment loans here for our clients. We have a diverse array of many available loan products to help qualified borrowers looking to purchase or refinance an apartment property. We offer apartment loans with terms and amortizations up to 30 years, recourse and non-recourse, and many options for prepayment. We typically approve Apartment building loans within 1 day and usually close within 45 days of application. Our clients love our simplified application process, 24-hour pre-approvals with no-cost and no-obligation, great rates and terms, fast closings and personalized service. If you are looking to purchase or refinance an apartment building, don't hesitate to contact us. For more information on multifamily loans, check out how to get the best rate on a multifamily loan and how to get the best rates on an apartment refinance.

Apartment - Multifamily Loan Benefits

Fort Lauderdale Apartment Loan rates start as low as 5.84% (as of September 27th, 2023)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily financing 
• Terms and amortizations up to 30 years 
• Multifamily loans for purchase and refinance, including cash-out 
• 24 hour written pre-approvals with no cost and no obligation

Recent TRUSTPILOT Reviews

Select Commercial Funding Reviews from TRUSTPILOT

A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"

Apartment Loan Basics

Apartment Loan Types We Serve

If you are looking to purchase or refinance a Fort Lauderdale apartment building, don't hesitate to contact us. We arrange financing in the city of Fort Lauderdale for the following:

  • Large urban high-rise multifamily buildings
  • Suburban garden multifamilycomplexes
  • Small multifamily buildings containing 5+ units
  • Underlying cooperative multifamily building loans
  • Portfolios of small multifamily properties and/or single-family rental properties
  • Other multi-family and mixed-use properties


Apartment Loans - Lending Options

Apartment Loan Helpful Articles

How to Get the Best Rate on a Multifamily Loan
Fannie Mae and Freddie Mac 2022 Update
How To Get The Best Rates On An Apartment Refinance
What Do Underwriters Look for When Evaluating Apartment Loans?
What You Need to Know About Freddie Mac SBL Multifamily Loans
How to Calculate Debt Service Coverage Ratio for Apartment Loans
Apartment Occupancy Levels – Concern in Some Major US Markets
How to Invest in an Apartment Building
Are You Shopping for an Apartment Building Loan?
How to Buy an Apartment Building
What Are Commercial Mortgage Lenders Looking for These Days
Uncomplicated Underwriting
How to Qualify for a Great Rate When Refinancing Your Apartment Building

Recent Multifamily Loan Closings

What are the market conditions expected for Fort Lauderdale Apartment Loans in 2023?

Experts anticipate above average performance for the multifamily sector in 2023. Occupancy rates are expected to remain above 95% and rental rates are expected to grow by 4%. These figures are not as robust as the past couple of years, however, which saw vacancy rates under 3% and rent growth in the double digits. During the second and third quarters of 2022, leasing activity for apartment buildings was slow. This coincided with a solid pace of new multifamily deliveries to the market. The combination of slower leasing activity and heightened supply caused the overall vacancy rate to increase by 150 basis points in the middle portion of 2022. Throughout 2023, vacancy rates will likely continue to rise at a slower pace and move toward the 20-year average of 5%.

The overall multifamily housing demand is expected to remain strong in 2023. With inflation continuing to impact consumer spending, more and more renters are determining whether to renew their leases. While new leasing activity stalled throughout the middle portion of 2022, the overall multifamily demand remained pretty strong. The rise in home prices and residential mortgage rates is also helping to increase multifamily demand. Monthly payments for homes purchased in the third quarter of 2022 were, on average, 57% more than monthly apartment rents. That difference is the widest gap on record. Even if home values and mortgage rates decrease in 2023, the relatively lower cost of renting will support multifamily demand.

Rapidly rising interest rates on multifamily loans caused multifamily investment activity to slow down in the second half of 2022. Many buyers not willing to pay higher rates for apartment loans stepped out of the market. As apartment loan rates stabilize in 2023, many buyers will return to the market and look to finance apartment building investments with multifamily loans. The multifamily sector has historically been one of the most attractive sectors to investors. Over the past decade, the multifamily sector has seen average annual total returns of 9.3%. Additionally, this sector offers multifamily loan options from both Fannie Mae and Freddie Mac. These apartment loan options are not available for other asset classes. As the market stabilizes in 2023, more and more investors will look to acquire apartment buildings and finance them with agency apartment loans.

One other factor that caused the multifamily sector to stall in 2022 is that buyers expected cap rates to increase commensurate with the rise in interest rates, but sellers still expected higher prices.  This caused many deals to simply not cash flow. Cap rates are expected to increase in 2023. With this increase, many buyers will have the option to finance acquisitions with apartment loans at more attractive prices.

Fort Lauderdale Vacancy and Rents Fort Lauderdale Rent and Sales Trends

Fort Lauderdale Apartment Loan Outlook - 2022

Relocations Due to Covid-19 Cause Huge Leasing Increase - Institutional and Foreign Buyers Very Active

COVID-19 lockdowns in other markets and the promise of a better climate caused an influx of new renters to the market. Fort Lauderdale has benefitted from a work from home policy allowing people from other markets to relocate to the city. This has caused strong rental demand during the health crisis. In addition to retired individuals, the market has welcomed younger workers seeking a better climate and more lenient COVID-19 policies. Exploding home prices are causing more of these workers to rent apartment units, boosting rental demand and creating a rental surge in 2021. A strong rate of new household growth is expected to continue in 2022 that will happen at the same time as a slight drop in construction activity. Builders are paying attention to rental activity as most of new units added are in Fort Lauderdale proper and Hollywood, two of the markets showing the highest absorption rates entering 2022. Very little construction is expected to open in Pembroke Pines-Miramar in 2022 even though vacancy rates are below 2% and strong demand is pushing rents higher.

Strong rental rates increase buyer’s demand for luxury apartment units. After a slight slowdown in sales activity at the beginning of the pandemic, sales activity has picked up again. Class A apartments were selling more frequently in Fort Lauderdale during the end of 2021 as more than triple the number of Class A apartment properties sold in 2021 than in either 2019 or 2020. National and foreign buyers drove the recent increase, focusing on Central Fort Lauderdale most often, with sales prices on these sales running $100,000 per door higher than the average sales price. Purchasers looking for lower prices are considering Class B/C apartments with current vacancy rates running less than 3%. The Hollywood-Dania Beach submarket is the hottest location for these sales, with cap rates ranging from 50 to 100 basis points above the local market average.

2022 Apartment Market Forecast and Fort Lauderdale Apartment Loan Economics

Fort Lauderdale has a National Multifamily Rank of 3. Strong rent growth, explosive relocation and limited availability give Fort Lauderdale a very high ranking in this year’s survey.

Employment is up 4.7%. Job gains propel the market and almost reach levels seen before the pandemic, as 39,000 new jobs are added in 2022.

New construction expected to add 2,800 units. Construction moderates after the two largest years in market history. Building levels in Fort Lauderdale are slowing down more than in nearby West Palm Beach or Miami.

Vacancy rates down 10 basis points. New rental activity will surpass completions for the fifth consecutive year. This will cause a decline in the market vacancy rate to 2.5%.

Rental rates are up 7.1%. The average effective rent reaches $2,129 per month, after a 20 percent rise in 2021. This is the largest increase of South Florida’s three major housing markets.

Investment in Fort Lauderdale apartments. Sales prices remain lower in Fort Lauderdale than in Miami despite rapidly increasing monthly rent growth. Both sales prices and rent growth are higher in nearby West Palm Beach.

Fort Lauderdale apartment loan rates will start to increase in 2022 as the Federal Reserve starts raising rates to slow the rate of inflation. We will be watching to see if Fort Lauderdale apartment loan rate increases will affect market activity in 2022.

All data provided by Marcus and Millichap

Fort Lauderdale Apartment Market and Trends - 2021

While the amount of people employed nationally decreased 9.3% in the first half of 2020 due to the pandemic, Fort Lauderdale’s employment number decreased just under 9%. However, in the second half of 2020 and first half of 2021, Fort Lauderdale’s economic recovery has not met the national pace. In this time the national employment headcount increased by 3.4 percent. In Fort Lauderdale, through the first part of 2021, the market only grew about 1.7%. In particular, the business services industry has been very slow to recover. As the state of Florida continues to rollout more vaccines, the Fort Lauderdale market should continue to reopen and recover as 2021 goes on. The Covid 19 pandemic led many people in the Fort Lauderdale market to prioritize more living space. This led many to purchase homes and move out of apartments. This trend may continue to take away from the multifamily demand in Fort Lauderdale in 2021. Homes in Fort Lauderdale are significantly cheaper than homes in other cities in Southeast Florida. While the median home price in Fort Lauderdale increased about 13 percent last year, that figure still sits at just over $388,000 which is much lower than the surrounding markets. Moreover, much of the recent population growth in Fort Lauderdale are older people with savings. These people will likely purchase homes instead of renting apartments in 2021.

As Fort Lauderdale continues to recover in 2021, the city is expected to have a growth of 4.5% in employment rate this year. This will be in increase of 36,000 jobs. However, it will take more than this year to recover all of the 63,000 jobs lost in 2020. A large number of apartment units are slated to be constructed in 2021. Lower vacancy rates are encouraging more construction and the market is set to grow 2.9% this year. With a total of about 5,600 units, this is the greatest increase in over 20 years. As many people continue to buy homes and more apartment units are constructed in 2021, the vacancy rate is set to increase 70 basis points this year. This will push the vacancy rate to about 4.9 percent in 2021. In 2021, the average effective rent in Fort Lauderdale will increase to $1,685 per month. This may even rise higher than the Miami-Dade market.

- Data provided by Marcus and Millichap

Apartment Loan Outlook - 2021

  • Employment in the US is expected to show a 4.6% year over year increase with the creation of 6.5 million new jobs in 2021 which represents the largest annual increase in over three decades.  This is the result of businesses emerging from the Covid-19 pandemic.  Unfortunately, the US lost close to 9.4 million jobs during the pandemic.
  • Strong demand for apartments, as a result of increased employment rates, is expected to push national vacancy rates down to 3.9%, down from 4.4% in 2021.
  • Construction of new apartments in 2021 are expected to top 385,000 new units, an increase of 2.1% over last year’s record pace.  Rising labor and construction costs are starting to have an effect on new construction, however.
  • Following rent declines during the pandemic, average rental rates are expected to rise 6.8% in 2021 to $1,507 per month.  Landlords are able to raise rents dramatically due to decreased vacancy rates and the strong demand got rental housing.
  • The COVID-19 pandemic affected the ability of young graduates to find jobs and move into apartments of their own.  The demand for apartment rentals is usually fueled by young graduates entering the workforce and moving into rental apartments.  Many young adults lived with their parents or friends during the pandemic and into early 2021.  As 2021 progressed, many companies reopened their offices and began hiring again which generated record levels of new apartment rentals.  This trend should continue through late 2021 as more new workers are able find jobs and move into their own apartments.  Many of these new multifamily units are in metro areas of the sunbelt states as workers have been moving out of colder urban areas in favor of more suburban warmer climates.

    The tight market in 2021 for new home purchases has caused many would be homebuyers to continue renting.  Prices for existing homes have risen due to lack of inventory and the cost of construction has skyrocketed due to increased costs for raw materials.  The high cost of purchasing a new or existing home is keeping the demand for rental units very strong in 2021.

    During the pandemic, when workers were either out of work or working from home, many people moved out of densely populated urban areas in favor of suburban locations.  In 2021, as more employees are returning to their offices, we are seeing demand pick up once again for rental apartments in urban locations.  In addition, as more and more retail and dining locations reopen in downtown areas, we expect to see a return of employees to these areas.

    During the pandemic, the CDC and local governments instituted a moratorium of evictions.  This caused many landlords to suffer economic losses and depressed the value of apartment properties.  In 2021, as these moratoriums start to expire, we expect to see strong demand from investors for these properties.

    Nationwide, the first half of 2021 saw more than 175,000 new apartments completed and a total of 363,000 for the previous 12 months.  A high percentage of these new units were in Texas and other sunbelt states, as more and more people are relocating to warmer climates.  Occupancy rates and asking rents have been lower in larger urban markets in the Northeast and other colder climates, while occupancy rates and asking rents have been increasing in these warmer sunbelt climates.  These 2021 trends have definitely been driven by the COVID-19 pandemic and we are watching these trends closely to see if these trends persist after the pandemic is over. Check out our low commercial real estate loan rates and use our commercial mortgage calculator to calculate monthly principal and interest.

    Fort Lauderdale Freddie Mac Apartment loans

    Fort Lauderdale Freddie Mac Multifamily Loans provide mortgage capital in the secondary market for apartment building loans. Together, Fannie Mae and Freddie Mac control a very large portion of the multifamily loan market. Freddie Mac has a very aggressive program for small balance apartment loans (from $1,500,000 to $25,000,000+). Some features of this program include:

    • Market size driven. Freddie Mac classifies loans by the size of the overall market: Top, Standard, Small, and Very Small. Rates are best in top market locations (major metropolitan areas).
    • Capped costs. Freddie Mac lenders often cap the closing costs at a fixed dollar amount, thereby lowering the overall cost to borrow money.
    • Flexible pre-pay penalties. Freddie Mac offers many options for pre-payment penalties, from yield maintenance to step-down to “soft” step-down.
    • Interest-Only (I/O) loans. Freddie Mac will allow payments consisting of only interest and no amortization of principal.
    • Fixed rate terms. Freddie Mac offers fixed rates of 5, 7, and 10 years, followed by an adjustable period. These loans are called Hybrid/Adjustables. Loans have a 20 year term and a 30 year amortization schedule.

    Freddie Mac Loan and Rate Information

    Fort Lauderdale Fannie Mae Apartment loans

    The Fort Lauderdale Fannie Mae multifamily loan platform is one the leading sources of capital for Fort Lauderdale apartment building loans in the US. Fannie Mae is a leader in the secondary market – meaning they purchase qualifying apartment loans from leading lenders who originate these loans for their borrowers. Fannie Mae purchases loans secured by conventional apartments, affordable housing properties, underlying cooperative apartment loans, senior housing, student housing, manufactured housing communities and mobile home parks on a nationwide basis. The Fannie Mae platform has many benefits, including:

    • Long term fixed rates and amortizations. Fannie Mae allows terms and amortizations of up to 30 years. Most banks offer only 5 or 10 year fixed rates and 25 year amortizations.
    • Non-recourse options. Most banks will require the borrower to sign personally for the loan. Fannie Mae offers non-recourse apartment loans.
    • Lending in smaller markets. Many national lenders do not like to lend in rural or tertiary markets. Fannie Mae is a good option for these loans.
    • Assumability and Supplemental Financing. Fannie Mae allows their loans to be assumed by a qualified borrower. They also have a program which allows borrowers the ability to come back and borrow additional funds during the life of the loan (subordinate financing).

    Fannie Mae Loan and Rate Information

    Fort Lauderdale FHA Multifamily Loans

    FHA multifamily loans are some of the best financing options for real estate investors and developers. While HUD does not directly make these loans, they do insure multifamily loans made by third party lenders to real estate investors. The third party lender will process the loan in accordance with the FHA HUD guidelines and FHA will underwrite the loan in order to provide the insurance. There are two primary types of FHA insured loans that multifamily investors can take advantage of.

    Learn More About FHA Multifamily Loans

    Fort Lauderdale HUD Multifamily Loans

    HUD multifamily loans are some of the best financing options for real estate investors and developers. While HUD does not directly make these loans, they do insure multifamily loans made by third party lenders to real estate investors. The third party lender will process the loan in accordance with the FHA HUD guidelines and HUD will underwrite the loan in order to provide the insurance. There are two primary types of HUD insured loans that multifamily investors can take advantage of.

    Learn More About HUD Multifamily Loans

    Fort Lauderdale Apartment Loans with Banks and Other Programs

    While the agencies (Fannie Mae, Freddie Mac and HUD) offer some excellent programs, not every apartment loan applicant qualifies for these programs. We have many excellent choices for these loans with our correspondent banks, credit unions, insurance companies and private lenders. Some examples of these loans include:

    • Fort Lauderdale Multifamily loans that require flexible underwriting or those that don’t meet standardized criteria.
    • Properties in less than desirable markets, or those that require repairs or updating.
    • Properties that don’t cash flow according to industry guidelines or lack stabilized cash flow.
    • Borrowers with past credit issues, including foreclosures, short sales, or judgements.
    • Borrowers who are not US citizens.

    Whether you are purchasing or refinancing, we have the right solutions available for your multifamily mortgage loans. We will entertain apartment loan requests of all sizes, beginning at $1,500,000. Get started with a Free Commercial Mortgage Loan Quote.

    Fort Lauderdale Apartment Loans

    Select Commercial provides apartment loans throughout Fort Lauderdale, Florida including, but not limited to, the areas below. We provide apartment loans in most major cities throughout the United States.

    Bermuda Riviera, Palm-Aire Village, Landings, Rio Vista, Harbor Drive, Breakwater Surf, Lake Estates, Imperial Point, Tarpon River, River Oaks, South Middle River, Lauderdale, Manors, Victoria Park, Imperial Point, Coral Ridge, Coral Ridge Country Club, Dorsey-Riverbend, Melrose Manors, Riverside Park, Sunset.