Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Portfolio Program
Bank Apartment Loans
Bank and portfolio apartment loans provide financing for 5+ unit apartment and multifamily properties that do not fit agency guidelines. Agency lenders usually offer the lowest rates, but bank programs add flexibility for properties that need repairs, loans that require cross collateralization, Section 8 and HAP tenants, gift down payments, and long-term amortization with no balloon. Compare today’s commercial mortgage rates.
Get a Free QuoteBank Apartment Loan Rates & Terms
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.25%-6.50% | 75% |
| 7 Year Fixed | 6.25%-6.50% | 75% |
| 10 Year Fixed | 6.50%-6.75% | 75% |
- Bank and portfolio programs for 5+ unit apartment properties
- Loan amounts from $1,500,000 to $10,000,000+ nationwide
- Up to 80% LTV on purchases and 75% on refinances
- Flexible, relationship-based underwriting
- Options for apartment properties needing repairs or updating
- Long-term amortization with no balloon available
Rates last updated August 6, 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.
When a Bank Apartment Loan Fits
Agency lenders such as Fannie Mae and Freddie Mac usually offer the lowest apartment rates, but a bank or portfolio loan is often the better option for apartment properties that do not fit agency guidelines. Bank apartment programs are a strong fit for:
- Apartment buildings in need of repairs, maintenance or updating
- Loans that require cross collateralization with other properties
- Properties with HUD contracts, HAP contracts or Section 8 tenants
- Purchases where the down payment is a gift from family members
- Borrowers who want long-term amortization with no balloon payment
Flexibility Agencies Cannot Match
Bank portfolio lenders keep apartment loans on their own books, which gives them room to make exceptions on property condition, structure and borrower profile. When an apartment deal does not fit an agency or CMBS box, a bank program is often the answer. Loan amounts typically run from $1,500,000 to $10,000,000 and up, nationwide.
Get Expert Guidance on Your Bank Apartment Loan
With more than 30 years of experience and relationships across national, regional and community banks, we compare bank apartment pricing against credit unions, agency and life company execution. There are no upfront application or processing fees, and we issue written pre-approvals within 48 hours at no cost or obligation.
What Our Clients Say
“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“I found selectcommercial.com and saw they specialized in apartment building loans. In the end, they were by far the best company I have used. Next time I know who to call first.”
Jerry T. · Long Island, NY“As a real estate attorney, I trust that Select Commercial will deliver apartment building loans and commercial mortgages in a timely manner. The rates and terms offered are excellent. I heartily recommend them.”
David S. · New York CityGet Your Bank Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on bank 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