Fort Worth Apartment/Multifamily Loans
$1,000,000 Minimum

Fort Worth Apartment Loan Rates - Rates updated July 28th, 2021

Fort Worth Apartment/Multifamily Loan Rates Over $6,000,000 Rates (start as low as) LTV
Multifamily 5 Year Fixed Loan Rates 2.54% Up to 80% Get Free Quote
Multifamily 7 Year Fixed Loan Rates 2.68% Up to 80% Get Free Quote
Multifamily 10 Year Fixed Loan Rates 2.88% Up to 80% Get Free Quote
Fort Worth Apartment/Multifamily Loan Rates Under $6,000,000 Rates (start as low as) LTV
Multifamily 5 Year Fixed Loan Rates 3.20% Up to 80% Get Free Quote
Multifamily 7 Year Fixed Loan Rates 3.21% Up to 80% Get Free Quote
Multifamily 10 Year Fixed Loan Rates 3.23% Up to 80% Get Free Quote
Fort Worth Apartment Building Fort Worth
Multifamily Loan

Select Commercial has excellent Fort Worth apartment/multifamily loan products and options available for owners and purchasers of multifamily properties throughout the city of Fort Worth. Whether you are looking to finance a small apartment building, a complex with hundreds of units, or a co-operative, we can help you find the optimal financing solution to meet your apartment/multifamily mortgage 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 Worth is one of the cities that we consider to be a premium market and we actively look to originate good quality loans here for our clients. We have a diverse array of many available loan products to help qualified Fort Worth TX 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/multifamily 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.

Fort Worth Apartment/Multifamily Loan Benefits

Fort Worth Apartment Loan rates start as low as 2.54% (as of July 28th, 2021)
• 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!"

Fort Worth Apartment/Multifamily Loan Types We Serve

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

Recent Closings

Fort Worth 2021 Multifamily Market and Trends

There are a variety of reasons why experts think migration to the Dallas/Fort Worth metro could increase in 2021. The Texas market had less severe COVID-19 shutdowns than other parts of the country. Additionally, the cost of living is cheaper and quality of life is greater than many other top markets in 2021.  Since 2010 the city has grown over 20% in terms of population. This has been driven by the migration of about 800,000 people into the market. In addition to population growth, the widening affordability gap of home prices is driving demand for apartment rental units. The median home price in the city increased 11.4 percent last year to $306,300. In particular, renters have been very interested in multifamily units in the northern suburbs.

In 2021, over 24,000 new multifamily units are expected to be added to the Dallas/Fort Worth metro for the fifth straight year. Additionally, the suburban markets are quickly adding apartments in 2021. More than 28,000 units are set to be completed in the suburbs in 2021. Experts anticipate that, in 2021, the city will regain all of the 81,800 jobs that were lost due to the COVID-19 pandemic. Moreover, the city is expected to recoup growth momentum in 2021. Coming into 2021, the unemployment rate in Dallas set at 6.5 percent. This was an increase of 330 basis points year-over-year. This should benefit firms looking for unemployed workers. There’s more exciting news for the Dallas multifamily market. Data indicates that in 2021, the Dallas market should receive the largest delivery volume of a new units in the past twenty years. These units should increase available multifamily inventory by about 3.8 percent, surpassing last year’s 3.1 percent growth. After a fairly solid year of absorption in 2020, the vacancy rate is expected to be pressured in 2021. The vacancy rate is expected to rise about 6.2 percent in 2021 after increasing 60 basis points last year. While vacancy is expected to rise in 2021, strong demand for rentals and new apartments charging premium rates will support positive rent growth for the 12th consecutive year. The average effective rent will reach $1,192 per month in 2021.

- Data provided by Marcus and Millichap

What Happened with Apartment Loans in 2020

Fort Worth Economic Trends Fort Worth Economic Trends

Dallas/Fort Worth’s Robust Construction Pipeline Met with Steady Housing Demand

Strong job growth propels Dallas Metroplex apartment demand, construction pipeline. The Dallas/Fort Worth area remains a national leader in job creation again this year, spurring strong housing demand. The number of households in the Metroplex is set to rise by approximately 60,000 for a second consecutive year, and apartment developers are on track to meet a sizable share of this demand. While rental deliveries remain heaviest just north of downtown Dallas and in the suburbs of Frisco, Prosper, Allen and McKinney, areas around Fort Worth will see a significant increase in additions during 2019. Downtown Fort Worth is set to receive nearly 3,200 units this year, compared with 4,000 apartments delivered since 2013. While some softening is anticipated as vacancy ticks up, positive net absorption remains near a historical high, encouraging a steady pace of effective rent growth.

Cap rate spread narrows between Class B and Class C properties, reflecting shift of investor goals. Robust supply additions in some pockets of the Dallas Metroplex have had little impact on Class B and Class C apartment operations as new supply is almost all Class A luxury rentals. Vacancies for Class B and Class C properties average well under 5 percent and rent growth has been strongest among these asset classes. Class C properties are in high demand, especially among investors seeking value-add properties. As a result, average first-year returns have compressed and are on par with those for Class B complexes near 5 percent. Rising interest rates and an overall slower pace of rent growth have raised caution levels among some investors and encouraged a more conservative approach to opportunities. Buyers are adjusting underwriting and investment criteria as they consider the intricacies of today’s market environment. Some investors with long-term hold strategies are using the opportunity to trade into a higher-quality asset offering a similar initial return to an older property in need of capital improvements.

2019 Dallas/Fort Worth Apartment Market Forecast

National Multifamily Index of 31, down 1 place.  Dallas/Fort Worth retreats one place in the National Multifamily Index this year as a surge in completions pushes vacancy up.

Employment in Dallas/Fort Worth is up 2.8%.  Employers have created an average of 103,000 positions during each of the past seven years, and job gains remain on par in 2019 as 105,000 workers are added to payrolls.

Construction of apartments in Dallas/Fort Worth is up 28,400 units.  In 2019, deliveries rise from the 25,900 units completed last year, reaching the highest level in more than 20 years.

Vacancy in Dallas/Fort Worth multifamily is up 40 basis points.  The absorption of nearly 24,000 apartments falls short of supply additions this year and vacancy increases to 6.0 percent.

Dallas/Fort Worth apartment rents are up 2.8%.  Building on last year’s 3.2 percent swell, the average effective rent advances to $1,142 per month.

Investment in Dallas/Fort Worth apartments is strong.  Housing demand in the areas west of Fort Worth as well as southern and far east Dallas is rising as residents eye lower housing costs. Additional investment activity could follow as buyers seek to capture upside through rent advances.

Data provided by Marcus & Millichap

2020 Fort Worth Apartment Market Forecast

Fort Worth Completions vs. Absorption Fort Worth Completions vs. Absorption

Fort Worth National Multifamily Index Rank is at 27, up 4 places. Employment growth more than twice the national average generates rental demand lifting Fort Worth in the NMI.

Employment in Fort Worth is up 2.2%. Following an average of roughly 100,000 jobs created each of the previous five years, 85,000 positions will be added in 2020 as tight unemployment restrains some hiring activity.

Construction of apartment units in Fort Worth is expected to exceed 21,400 units. Developers will surpass the 20,000-unit mark for the fifth consecutive year as they try to keep pace with the sustained wave of new households.

Vacancy in Fort Worth is down 10 bps. Strong leasing activity will push market vacancy down to 4.9 percent, building on the 50-basis-point drop in 2019.

Rent in Fort Worth is up 3.6%. After a 5.9 percent boost last year, rent growth will moderate in 2020 as the average effective rent rises to $1,232 per month.

Investment in Fort Worth remains a strong option for those looking for apartment loans. Tight conditions across the Mid-Cities will keep investors interested in communities such as Irving and Lewisville, where cap rates average 6 percent for stabilized Class C properties. We recommend that investors in the Fort Worth area should consider procuring multifamily loans to finance their next purchase.

Data provided by Marcus & Millichap.

Fort Worth Vacancy and Rents Fort Worth Vacancy and Rents

Apartment/Multifamily Loan Trends in 2020

At the start of 2020 the market outlook did not indicate any significant factors that would cause major trouble in the multifamily market. Market indicators suggested that demand for housing, especially for apartment rentals, would remain healthy, thus continuing to generate new construction of multifamily buildings. Both the high number of permits and starts over the past couple of years led experts to believe that developer confidence is very high in the multifamily market. Market experts predicted an annual completion of 340,000 apartment units over 2020, way above the 300,000-annual average for the past five years. Over the last couple of years, the multifamily market has seen absorptions outperform expectations due to both changes in lifestyle and demographic preferences and new supply has consistently taken longer to be built. These two factors have helped the market to perform stronger than expected in the past and should continue throughout this year. Market data indicated that rent growth would remain strong in 2020, growing 3.6% (which is above the historical average). In terms of mortgage origination, low interest rates and strong multifamily performance were expected to help loan volumes grow. Experts predicted that the origination volume in 2020 will increase by 5.7% to $390 billion. Market data indicated that cap rates have more room to decline, which would lead to increasing property values and should drive up origination volume. However, with the current outbreak of Covid-19, the overall economy has been in flux. The stock market has crashed and commercial mortgage interest rates have been severely impacted. Huge metros such as New York have all but shut down much economic activity and entertainment. In this unsteady climate, many investors are scared to purchase commercial real estate and to take out commercial mortgages and apartment loans. Additionally, the oil industry has taken a big hit. Not only are people traveling less due to the pandemic, foreign countries like China and Russia are involved in a huge price war which is driving the price of oil way down. Experts are hopeful that as the weather warms up and public health policy learns how to handle this pandemic, the economy should revert back to its pre-virus strength.

Fort Worth Apartment/Multifamily Loan Options

Fort Worth Freddie Mac Apartment/Multifamily loans

Fort Worth 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 $1,000,000 to $7,500,000). 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

Freddie Mac is a government sponsored agency that offers incredible financing solutions to investors looking for apartment loans. They provide both fixed rate and floating rate multifamily loans to acquire or refinance a wide variety of multifamily properties.  These apartment building loans are used to finance properties such as market-rate apartments, student housing, senior housing, and affordable housing.  While Freddie Mac has always been one of the industry's most aggressive financing source for larger apartment loans, Fannie Mae used to really dominate the smaller balance market. However, over the last 7 years, Freddie Mac has rolled out their Freddie Mac Small Balance Multifamily Loan program to compete with Fannie Mae in the small balance market. For eligible borrowers, Fort Worth Freddie Mac Multifamily loans offer some of the best terms and rates in the market. However, qualifying for Freddie Mac loans requires that the borrower and property both meet a high standard set by Freddie Mac. Borrowers must typically meet a threshold for net worth and liquidity and properties must be cash flowing with at least 90% occupancy for 90 days.

Freddie Mac

Freddie Mac’s Fort Worth Multifamily Loan Programs offer many unique and beneficial features for apartment purchases and refinances, with a minimum loan size of $1,000,000. The loan application process is simple and streamlined. As an example, tax returns for the borrower and the property are not required. Loans typically close in 45 days and the program has much lower costs than other government or agency programs. These apartment building loans are non-recourse, which means that the borrower is not required to guarantee payments personally. Prepayment penalties are flexible, ranging from yield maintenance to soft stepdown. Perhaps the best feature of these multifamily loans is that Freddie Mac offers a free rate hold for 45 days from application. If rates change during the processing period, the loan rate is automatically held from the date of application.

Freddie Mac

Freddie Mac has a publicly stated mission to help maintain stability in the American housing-mortgage markets. Additionally, their goal is to both keep the housing market well-financed and to promote affordable housing. Freddie Mac accomplishes this goal by helping investors to purchase, refinance, preserve, and renovate existing multifamily and apartment buildings. A large portion of the properties financed by Freddie Mac are more than 10 years old, need significant improvements and have a hard time procuring financing with other lenders. Freddie Mac’s main focus in the multifamily arena is affordable housing. Around 90 percent of their apartment loans are written for properties with affordable rents (based on local area median income). Over the years the number of renters has continued to grow leading to a short supply of available affordable apartment units. Many of Freddie Mac’s programs were designed with this challenge in mind. They focus on financing apartment buildings that are affordable to renters with lower annual incomes. They also write apartment building loans for subsidized housing that assists individuals with very low (below average) incomes. Through these programs, Freddie Mac’s multifamily loan programs are playing a crucial role in ensuring that Americans have access to affordable housing throughout the country.

Freddie Mac

One potential complication with Fort Worth Freddie Mac multifamily loans is that Freddie Mac does not directly originate their loans. Rather they rely on authorized lenders from within their Optigo network to underwrite and service their loans. While these apartment loans may be financed by outside lenders, they all must conform to Freddie Mac guidelines. While Freddie Mac offers loans in varying markets for many different situations, each Optigo lender may have their own limitations on eligible deals they are willing to finance. At Select Commercial Funding, we have access to a wide array of Freddie Mac funding solutions so we can help to connect you with the right Freddie Mac lenders for your specific needs.

Fort Worth Freddie Mac Small Balance Multifamily Loan Highlights

Loan Amount
$1,000,000 - $6,000,000, up to $7,500,000 in large markets

Loan Purpose

Purchase or refinance, including cash out refinances


Up to 30 years

Property Types

Apartment buildings of 5+ units, senior housing (with no resident services), apartment buildings with commercial space, properties with tenant-based housing vouchers, etc.

Debt Service Coverage

1.20x in top markets, 1.25x nationwide

Maximum Loan to Value

80% in top markets, 75% nationwide

Loan Terms

5, 7, and 10 year fixed rate options.  After fixed rate period loan can either mature or convert to an adjustable rate (hybrid adjustable) at borrower option.


Non-Recourse, with standard carve-out provisions

Credit Score

Minimum of 650

Interest Only

Typically, 1-3 years of interest only are offered with slight adder to rate.  Full term I/O might be available on lower leverage loans.


Minimum occupancy of 90% for previous 90 days


Escrows for taxes and insurance may be waived on lower leverage transactions

Replacement Reserves

Not usually required

Rate Lock

Rate held for 45 days from application without additional fee.  No worries that rate will rise during the application period.


Annual and lifetime caps on all adjustments (on hybrid/adjustable option)



Prepayment Penalties

Yield maintenance, step-down and soft step-down options available

The Freddie Mac SBL program offers a combination of benefits and features not available anywhere else.  Whether your objective is to buy additional property, get a lower rate on an existing loan, or take cash out of an existing property, Freddie Mac has the strength and expertise to get you to the closing table faster than most other lenders.

Fort Worth Fannie Mae Apartment/Multifamily loans

The Fort Worth Fannie Mae multifamily loan platform is one the leading sources of capital for 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

Fannie Mae is one of the nation’s leading secondary market sources of capital for apartment building financing. Fannie Mae provides mortgage capital for conventional, affordable housing, cooperatives, senior housing, student housing, manufactured housing communities and mobile home parks nationwide. Fannie Mae's apartment loan program offers many distinct advantages over traditional bank programs, including long-term fixed rates up to 30 years, high LTV ratios up to 80%, and nonrecourse financing (no personal guarantee to the principals). Fannie Mae Multifamily provides long term permanent mortgage loans for the purchase or refinance (cash-out OK) of apartment properties nationwide.

Fannie Mae

Fannie Mae Multifamily loans can be used to finance apartment buildings with at least 5 residential units. No more than 20 percent of net rentable area can be leased out to commercial tenants. Fannie Mae Multifamily is an industry leader in apartment building loans and there terms are incredibly difficult to beat. This program offers loan terms between 5 and 30 years with amortization schedules up to 30 years. They offer flexible prepayment penalties and interest-only options. In addition, loans are typically assumable and allow for secondary financing.

Fannie Mae

While Fort Worth Fannie Mae Multifamily loans are a terrific option for investors in the multifamily space, this program does have some very specific underwriting guidelines. Typically, these loans are only eligible for apartment buildings in primary or secondary MSAs (with some exceptions for tertiary markets). These properties must be stabilized with 90% occupancy for at least 90 days. Standard multifamily properties must have at least 5 units and manufactured housing communities must have at least 50 pad sites. Borrowers must have strong financials with net worth equal to the loan amount and liquidity of 9 to 12 months of debt service. Typically, borrowers must have a credit score of at least 680 with no recent delinquencies.

Fannie Mae

If you are looking for a multifamily loan, Fannie Mae Multifamily may be the perfect option for you. The professionals at Select Commercial Funding are excited to help you find the perfect Fannie Mae product for your multifamily loan. Give us a call today to take the next step in financing your apartment building with a Fannie Mae Multifamily loan.

Apartment Lending with Banks and Other Programs

While the agencies (Fannie Mae and Freddie Mac) 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:

  • 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 $1,000,000. Get started with a Free Commercial Mortgage Loan Quote.

Fort Worth Apartment/Multifamily Building Loans

Select Commercial provides apartment loans and multifamily loans throughout Fort Worth, Texas including, but not limited to, the areas below.

Greenland Hills • Casa Linda • Cochran Heights • El Tivoli Place • Government District • Forest Hills • Glencoe • Hollywood Santa Monica • Forest Meadow East • Highland Hills • Lone Star Industrial Park • Junius Heights • Moss Meadows • Muncie • Victory Park • Old Lake Highlands • Trinity • Royal Highlands