Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Houston, Texas
Houston Apartment Loans in 2026
Select Commercial specializes in Houston apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 6.16% and up to 80% LTV. For properties elsewhere in the state, see our Texas apartment loans; for loans over $6 million, see Houston multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Houston
Houston apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Texas apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Houston Apartment Loan Rates (Under $6 Million)
| Loan Type | Rate* | Max LTV |
|---|---|---|
| Apartment 5 Year Fixed | 6.16% | Up to 80% |
| Apartment 7 Year Fixed | 6.14% | Up to 80% |
| Apartment 10 Year Fixed | 6.16% | Up to 80% |
- Rates as low as 6.16% on Houston apartment loans
- Up to 80% LTV on apartment financing
- Terms and amortizations up to 30 years
- Purchase and refinance, including cash-out
- No upfront application or processing fees
- 48-hour written pre-approvals, no cost or obligation
Rates last updated August 5, 2026. Rates and maximum LTV shown represent our best-case pricing scenarios. Actual rates, LTV, and loan terms are subject to underwriting approval and may vary.
Compare Houston Apartment Loan Programs
As a broker, we compare every program to find your best-fit Houston apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.16%-6.95% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.15% | Up to 80% | $1M to $7.5M small balance |
| FHA / HUD | 5.95% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.25%-6.50% | Up to 75% | Flexible, value-add |
| Bridge | 9.00% | Up to 80% LTC | Reposition, lease-up |
Most apartment lenders look for a debt-service-coverage ratio (DSCR) of at least 1.25x. For properties over $6 million, see our Houston multifamily loans.
2026 Houston Apartment Loan Market: Urban Pipeline Pullback While Suburban Growth Holds
Houston's apartment outlook in 2026 becomes more split by location as the urban pipeline contracts and suburban deliveries remain active. For Houston investors evaluating apartment building loans, the same fundamentals that support a Houston apartment loan stay front and center: job growth, new supply, vacancy direction and rent momentum.
Employment
Job growth continues to slow, with about 8,000 jobs added in 2026, roughly 0.2%. That gain ranks among the lowest annual increases since 2016.
Construction and supply
Completions are projected near 9,000 units in 2026, with supply increasingly concentrated in a few areas such as Katy. The pipeline is expected to contract to its lowest level since 2013, with the sharpest slowdown inside the Interstate 610 Loop.
Vacancy
Vacancy is projected to rise by about 20 basis points to roughly 6.3%. While that ranks among the higher rates nationally, it remains about 120 basis points below Houston's long-term average.
Rent trend
Rent growth remains steady, with average rent projected near $1,410 per month in 2026, up about 2.3%. Houston remains the lowest-cost primary market, which supports in-migration and future rental demand.
2026 Houston forecast at a glance:
- Employment: about 8,000 new jobs, roughly +0.2%
- Construction: about 9,000 units, urban core pipeline contracting sharply
- Vacancy: near 6.3%, up about 20 bps but below the long-term average
- Rent: near $1,410 per month, up about 2.3%
Houston Multifamily Loans (Over $6 Million)
For larger Houston apartment properties, we arrange multifamily loans over $6 million through Fannie Mae DUS, Freddie Mac, FHA/HUD and CMBS. These institutional programs offer non-recourse financing, up to 80% LTV and fixed terms up to 30 years, with even longer fully amortizing options through HUD.
See our Houston multifamily loans page for over-$6 million financing, or explore Fannie Mae and Freddie Mac agency programs.
Recent Apartment Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
Houston Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Houston apartment building, we arrange financing for:
- Large urban high-rise apartment buildings
- Suburban garden apartment complexes
- Small apartment buildings with 5+ units
- Underlying cooperative apartment loans
- Portfolios of small apartment and single-family rental properties
- Other multifamily and mixed-use properties
We consider apartment loan requests of all sizes, beginning at $1,500,000.
Other Property & Loan Types We Finance in Houston
As a full-service commercial mortgage broker, we arrange Houston financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Houston Neighborhoods We Serve
Select Commercial provides apartment loans throughout Houston, Texas and the surrounding area, including:
- Afton Oaks
- Montrose
- Rice Military
- Garden Oaks
- Woodland Heights
- Briargrove Park
- Westbury
- Eastwood
- Sharpstown
- Near North Side
- Old Braeswood
- Highland Village
- Willow Meadows
- Westmoreland
- University Oaks
- Royal Oaks
- Pecan Park
- Idylwood
- Robindell
- Windsor Village
For other cities in the state, see Texas apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
Dallas · Austin · San Antonio · El Paso · Lubbock · Plano · Arlington · Fort Worth · All Texas · Other U.S. cities
What Our Clients Say
“I am a veterinarian who purchased an existing practice. I was surprised to find a company that offered 100% financing at a good rate, with great terms and rates for medical office financing.”
Carol K. · Chicago, IL“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“Select Commercial offered 100% financing for my medical practice when my bank would have required 20% down. They delivered something my bank could not, and handled everything professionally.”
John C. · Boston, MAGet Your Houston Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Houston apartment loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up