Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Las Vegas, Nevada
Las Vegas Apartment Loans in 2026
Select Commercial specializes in Las Vegas apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.74% and up to 80% LTV. For properties elsewhere in the state, see our Nevada apartment loans; for loans over $6 million, see Las Vegas multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Las Vegas
Las Vegas apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Nevada apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Las Vegas Apartment Loan Rates
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.16% | Up to 80% |
| 7 Year Fixed | 6.14% | Up to 80% |
| 10 Year Fixed | 6.16% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 5.76% | Up to 75% |
| 7 Year Fixed | 5.74% | Up to 75% |
| 10 Year Fixed | 5.76% | Up to 75% |
- Streamlined underwriting for institutional multifamily
- Cash-out refinances are acceptable
- Interest-only and non-recourse options
- Minimum 1.25x debt-service-coverage ratio
Rates last updated August 16, 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 Las Vegas Apartment Loan Programs
As a broker, we compare every program to find your best-fit Las Vegas apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.16% | 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 | 6.12% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.25% | 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 Las Vegas multifamily loans.
2026 Las Vegas Apartment Loan Market: Tourism Sensitivity, Slower Deliveries, and Improving Rent Momentum
Las Vegas is expected to move into a healthier apartment environment in 2026 as the pace of new deliveries slows and renter demand continues absorbing existing inventory. Las Vegas investors looking for apartment building loans tend to underwrite the same drivers that support a Las Vegas apartment loan, including job growth, the supply pipeline, vacancy movement, and rent direction.
Employment
In-migration over the past several years helped support rental demand even as the metro worked through a historically large wave of new units. A key watch item is Las Vegas' heavier reliance on leisure, hospitality, and retail employment. If tourism underperforms in 2026, job growth in those segments could soften and renter demand could cool. Even so, construction activity has already pulled back, which reduces supply-side pressure and helps existing properties. Employment is expected to post slight growth in 2026, with the workforce projected to expand by about 3,000 jobs (roughly +0.3%).
Construction and supply
A clear pullback in deliveries is expected, with about 1,300 units of new supply and total inventory growth projected at roughly 0.5%. Construction activity has already pulled back, which reduces supply-side pressure and helps existing properties.
Vacancy
Net in-migration combined with fewer new units is expected to push conditions tighter, with vacancy projected to improve by about 50 basis points to roughly 5.0%.
Rent trend
Rent growth is expected to turn higher, with rents projected to rise about +1.4% and the average effective rent moving toward roughly $1,450 per month.
2026 Las Vegas forecast at a glance:
- Employment: Employment is expected to post slight growth in 2026, with the workforce projected to expand by about 3,000 jobs (roughly +0.3%).
- Construction: A clear pullback in deliveries is expected, with about 1,300 units of new supply and total inventory growth projected at roughly 0.5%.
- Vacancy: Vacancy projected to improve by about 50 basis points to roughly 5.0%.
- Rent: Rents projected to rise about +1.4%, with average effective rent moving toward roughly $1,450 per month.
Las Vegas Multifamily Loans (Over $6 Million)
For larger Las Vegas 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 Las Vegas 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.
Las Vegas Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Las Vegas 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 Las Vegas
As a full-service commercial mortgage broker, we arrange Las Vegas financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Las Vegas Neighborhoods We Serve
Select Commercial provides apartment loans throughout Las Vegas, Nevada and the surrounding area, including:
- Downtown Las Vegas
- Summerlin
- Spring Valley
- Enterprise
- Paradise
- Henderson
- Green Valley
- The Lakes
- Centennial Hills
- North Las Vegas
- Southern Highlands
- Rhodes Ranch
- Aliante
- Sunrise Manor
- Whitney
- Winchester
- The Arts District
- Mountains Edge
- Tule Springs
- Anthem
For other cities in the state, see Nevada apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
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 Las Vegas Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Las Vegas 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