Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Louisville, Kentucky
Louisville Apartment Loans in 2026
Select Commercial specializes in Louisville 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 Kentucky apartment loans; for loans over $6 million, see Louisville multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Louisville
Louisville apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Kentucky apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Louisville 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 13, 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 Louisville Apartment Loan Programs
As a broker, we compare every program to find your best-fit Louisville 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 Louisville multifamily loans.
2026 Louisville Apartment Loan Market: Steady Job Growth Contributes to More Balanced Fundamentals
Consistent hiring in healthcare and education is helping Louisville reach more balanced conditions across vacancy, rent growth and absorption. A sharp pullback in new supply is easing pressure on both sides of the Ohio River.
Employment
Employers will add approximately 7,500 positions in 2026, led by gains in healthcare and education, with the metro's job growth rate ranking among the top five major U.S. markets.
Construction and supply
This year's delivery volume will total only half of 2025's completions, bringing inventory growth down to 1.0 percent, the slowest annual rate of change since 2012.
Vacancy
The metrowide vacancy rate will edge up slightly to 4.5 percent by December, remaining 150 basis points below the metro's long-term average.
Rent trend
Tight vacancy conditions support rent growth, with the average monthly rate rising about 3 percent for the fourth consecutive year to reach $1,330 by the end of 2026.
2026 Louisville forecast at a glance:
- Employers add about 7,500 jobs, a top-five job growth rate nationally.
- Deliveries halve from 2025, holding inventory growth to 1.0 percent.
- Vacancy edges up to 4.5 percent, still 150 basis points below average.
- Average rent rises roughly 3 percent to $1,330 per month.
Louisville Multifamily Loans (Over $6 Million)
For larger Louisville 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 Louisville 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.
Louisville Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Louisville 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 Louisville
As a full-service commercial mortgage broker, we arrange Louisville financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Louisville Neighborhoods We Serve
Select Commercial provides apartment loans throughout Louisville, Kentucky and the surrounding area, including:
- NuLu
- Old Louisville
- Highlands
- Germantown
- Clifton
- Crescent Hill
- St. Matthews
- Butchertown
- Paristown Point
- Portland
- Shawnee
- Cherokee Triangle
- Smoketown
- Shelby Park
- Middletown
- Jeffersontown
For other cities in the state, see Kentucky 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 Louisville Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Louisville 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