Georgia Apartment Loans

$1,000,000 Minimum

Georgia Apartment Loan Rates - Rates updated October 20th, 2021

Georgia Apartment Loan Programs Over $6,000,000 Rates (start as low as) LTV
Multifamily 5 Year Fixed Loan Rates 2.59% Up to 80% Get Free Quote
Multifamily 7 Year Fixed Loan Rates 2.70% Up to 80% Get Free Quote
Multifamily 10 Year Fixed Loan Rates 2.91% Up to 80% Get Free Quote
Georgia Apartment Loan Programs Under $6,000,000 Rates (start as low as) LTV
Multifamily 5 Year Fixed Loan Rates 3.23% Up to 80% Get Free Quote
Multifamily 7 Year Fixed Loan Rates 3.24% Up to 80% Get Free Quote
Multifamily 10 Year Fixed Loan Rates 3.26% Up to 80% Get Free Quote
Georgia Apartment Building Georgia
Apartment Building

Select Commercial has excellent apartment building loan and multifamily loan products and options available for owners and purchasers of multi-family and apartment properties throughout the state of Georgia. 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 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. Georgia is one of the states that we consider to be a premium market for apartment building loans 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 GA 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.

Georgia Apartment Loan Benefits

Georgia Apartment Loan rates start as low as 2.59% (as of October 20th, 2021)
• No upfront application or processing fees 
• Simplified application process 
• Up to 80% LTV on apartment financing 
• Terms and amortizations up to 30 years 
• 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!"


Georgia Apartment Loan Types We Serve

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

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

Recent Closings

Atlanta 2021 Apartment Market and Trends

Atlanta’s multifamily market has demonstrated healthy fundamentals in 2021. Rents, which performed strongly in the second half of 2020, slightly softened in the first quarter of 2021. Through March 2021, rents were up by 0.3% to $1,378. Although the Atlanta market has seen a healthy supply of multifamily additions, the occupancy rate in stabilized properties increased to 94.8%, a rise of 110 basis points in the 12 months ending in February 2021. In the first quarter of 2021, multifamily sales came in at $1.3 billion. The per-unit price rose over 10% to $148,525. Meanwhile, 2,779 units came online and 20,037 were in the development process.

In 2021, balanced job growth is propelling the Atlanta market forward. Atlanta’s 2021 employment outlook has been strengthened by both its position as a distribution center and its growing appeal to technology companies. Atlanta’s trade, transportation and utility sectors have already recovered from losses due to the COVID-19 pandemic. Experts anticipate the retail sector to receive a jolt as stores begin to rehire employees. Further, experts have suggested that distribution hiring will spur more job formation this year in Atlanta. At the same time, white-collar positions have room for above-average growth in 2021 after falling 3.9 percent in 2020 due to the pandemic. In January, Atlanta’s unemployment rate dropped to 5.1%. and Preliminary data for the month of February provided evidence for sustained recovery as that figure has slid further to 4.5%. In the 2020 calendar year, Atlanta’s employment market shrunk by just 3.5%. This heavily outperformed the overall national rate which came in at -6.8%.

- Data provided by Marcus and Millichap

2021 Multifamily Outlook

  • 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.

    Georgia Multifamily Loan Information and Economic Overview

    Atlanta Economic Trends Atlanta Economic Trends

    Investors looking for a potentially lucrative commercial real estate investment may want to look at properties in Georgia. Georgia is home to some of the fastest-growing counties in the country and its capital city of Atlanta is the economic center of the southern United States. More than 16 Fortune 500 companies are located in Georgia, including the likes of Delta Airlines, Coca Cola and The Home Depot. The state’s economy runs on highly a diverse industry base that depends upon agriculture, manufacturing, logistics and the energy sector and is a competitive real estate market.

    The average value of commercial real estate properties in Georgia is about $140,000 with a median of just over $186,000. In the last two years there have been over 145,000 commercial sales, with over 56,000 selling for more than $250,000, almost 13,000 sales valued at over $1,000,000, and about 1,700 sales assessed at over $10,000,000. In Georgia, the median price per square foot of commercial real estate properties is $95. The average commercial real estate lot size in Georgia is 43,560 square feet, 56% above the country’s average. There are just under 1.5 million commercial real estate properties in Georgia, 190% below the United States average. The total acreage is over 20.5 million acres and the collective building area for commercial properties in Georgia is over 65 million square feet. In terms of commercial mortgages, there are almost 865,000 mortgages for commercial real estate properties throughout the state of Georgia. The average value of those commercial mortgages is over $6.4 million, 21% above the United States average. This data indicates that Georgia is a very attractive place to attain a commercial mortgage loan for investors.

    Atlanta is by far the largest market in the state and is the first place investors should look to when trying to obtain commercial mortgage financing. Both a strong economy and population growth continued to enhance Atlanta’s multifamily and apartment building market last year. Atlanta ranks third for apartment rent growth among the major cities in the country with an average rate increase of 5.9 percent year-over-year. Despite a stable pipeline of new construction projects, the occupancy rate in stabilized properties has increased over 30 basis points over the year indicating that multifamily and apartment demand still remains healthy. Roughly $6 billion in multifamily assets traded last year and with about 9,000 units scheduled to come open this year Atlanta rents are expected to rise over 3 percent in 2019. Historically it has been uncommon for Atlanta multifamily and apartment rents to increase at a higher rate than the country’s average, partially because the Atlanta supply volume typically runs high. However, due to the strong local economy, the market was able to absorb its share of increased multifamily completions relatively well. Due to strengthening occupancy, building operators were comfortable bumping up apartment rents to new heights. The industrial market in Atlanta continues to thrive due in part to the city’s role as a prominent regional and national distribution center, the growing Port of Savannah, and from its own strong demographic growth. While vacancy rates have increased recently, they are still well below Atlanta’s historical average. Due to low vacancies, landlords have maintained the upper hand in determining rent prices and rent growth continues to outpace the national average. Due to both a limited construction supply and steady demand, Atlanta’s office market is incredibly healthy as well. While construction is beginning to ramp up, new supply is still well below Atlanta’s historical average. This new supply hasn’t really impacted rent prices yet, as rent growth continues to outpace not only Atlanta’s historical average but the national average as well. Thus, Georgia is a wonderful place to look into receiving commercial mortgage financing in order to take advantage of all the region has to offer!

    2020 Atlanta Apartment Market Forecast

    Atlanta Completions vs. Absorption Atlanta Completions vs. Absorption

    National Multifamily Index Rank 15, up 3 places. Rent growth above the national average and tightening vacancy move Atlanta up in this year’s Index.

    Employment in Atlanta is up 1.7%. Employment gains are comparable to the 1.8 percent advance logged in 2019, with 48,000 roles added this year.

    Construction of apartments in Atlanta is expected to exceed 9,800 units. Developers will finalize more rentals than the 9,500 units added in the previous year, yet the 2020 composite falls 300 apartments shy of the trailing-three-year annual average.

    Vacancy in Atlanta multifamily is down 20 bps. Net absorption of more than 10,000 units contracts vacancy for the third consecutive year, down to a cyclical low of 4.6 percent.

    Atlanta apartment rents are up 5.9 percent. The average effective rent reaches $1,360 monthly as the annual growth margin exceeds 5 percent for the eighth straight year.

    Investments in Atlanta apartments are very strong. Capital migration will intensify as out-of-state investors eye value-add assets near opportunity zones. These locales will be more heavily targeted than the core, as lower entry costs allow the potential for greater yield gain. These are the perfect areas for investors to look for apartment and multifamily loans in Atlanta.

    Data provided by Marcus & Millichap.

    Atlanta Vacancy and Rents Atlanta Vacancy and Rents

    Apartment 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.

    Georgia Apartment Loan Options

    Our company has multiple capital sources for these apartment loans, including: Fannie Mae, Freddie Mac, FHA, national banks, regional and local banks, insurance companies, Wall Street conduit lenders, credit unions and private lenders.


    Fannie Mae Loan and Rate Information


    Fannie Mae’s 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).

    Freddie Mac Loan and Rate Information

    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 market. Freddie Mac has a very aggressive program for small balance 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.

    Georgia 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:

    • 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 loan requests of all sizes, beginning at $1,000,000. Get started with a Free Commercial Mortgage Loan Quote.

    Georgia Multifamily Loan Information and Economic Overview

    Investors looking for a potentially lucrative commercial real estate investment may want to look at properties in Georgia. Georgia is home to some of the fastest-growing counties in the country and its capital city of Atlanta is the economic center of the southern United States. More than 16 Fortune 500 companies are located in Georgia, including the likes of Delta Airlines, Coca Cola and The Home Depot. The state’s economy runs on highly a diverse industry base that depends upon agriculture, manufacturing, logistics and the energy sector and is a competitive real estate market.

    The average value of commercial real estate properties in Georgia is about $140,000 with a median of just over $186,000. In the last two years there have been over 145,000 commercial sales, with over 56,000 selling for more than $250,000, almost 13,000 sales valued at over $1,000,000, and about 1,700 sales assessed at over $10,000,000. In Georgia, the median price per square foot of commercial real estate properties is $95. The average commercial real estate lot size in Georgia is 43,560 square feet, 56% above the country’s average. There are just under 1.5 million commercial real estate properties in Georgia, 190% below the United States average. The total acreage is over 20.5 million acres and the collective building area for commercial properties in Georgia is over 65 million square feet. In terms of commercial mortgages, there are almost 865,000 mortgages for commercial real estate properties throughout the state of Georgia. The average value of those commercial mortgages is over $6.4 million, 21% above the United States average. This data indicates that Georgia is a very attractive place to attain a commercial mortgage loan for investors.

    Atlanta is by far the largest market in the state and is the first place investors should look to when trying to obtain commercial mortgage financing. Both a strong economy and population growth continued to enhance Atlanta’s multifamily and apartment building market last year. Atlanta ranks third for apartment rent growth among the major cities in the country with an average rate increase of 5.9 percent year-over-year. Despite a stable pipeline of new construction projects, the occupancy rate in stabilized properties has increased over 30 basis points over the year indicating that multifamily and apartment demand still remains healthy. Roughly $6 billion in multifamily assets traded last year and with about 9,000 units scheduled to come open this year Atlanta rents are expected to rise over 3 percent in 2019. Historically it has been uncommon for Atlanta multifamily and apartment rents to increase at a higher rate than the country’s average, partially because the Atlanta supply volume typically runs high. However, due to the strong local economy, the market was able to absorb its share of increased multifamily completions relatively well. Due to strengthening occupancy, building operators were comfortable bumping up apartment rents to new heights. The industrial market in Atlanta continues to thrive due in part to the city’s role as a prominent regional and national distribution center, the growing Port of Savannah, and from its own strong demographic growth. While vacancy rates have increased recently, they are still well below Atlanta’s historical average. Due to low vacancies, landlords have maintained the upper hand in determining rent prices and rent growth continues to outpace the national average. Due to both a limited construction supply and steady demand, Atlanta’s office market is incredibly healthy as well. While construction is beginning to ramp up, new supply is still well below Atlanta’s historical average. This new supply hasn’t really impacted rent prices yet, as rent growth continues to outpace not only Atlanta’s historical average but the national average as well. Thus, Georgia is a wonderful place to look into receiving commercial mortgage financing in order to take advantage of all the region has to offer!

    Georgia Apartment Loans

    Select Commercial provides apartment loans and commercial mortgages throughout the state of Georgia including but not limited to the areas below.


    AtlantaAugusta • Columbus • Macon • Savannah • Athens • Sandy Springs • Roswell • Albany • Johns Creek