Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Lubbock, Texas
Lubbock Apartment Loans in 2026
Select Commercial specializes in Lubbock 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 Lubbock multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Lubbock
Lubbock 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.
Lubbock 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 Lubbock 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 8, 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 Lubbock Apartment Loan Programs
As a broker, we compare every program to find your best-fit Lubbock 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 | 6.12% | 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 Lubbock multifamily loans.
2026 Lubbock Apartment Loan Market: Stable, affordable, limited new supply
Lubbock's apartment market remains stable and affordable, with limited new construction keeping conditions balanced heading into 2026.
Employment
Metro employment was roughly flat in 2025, though a large new dairy processing plant is set to add about 600 jobs as it comes online in 2026, and statewide Texas job growth is forecast near 1.8 percent.
Construction and supply
New apartment construction has stayed limited, helping keep the market balanced without the oversupply seen in larger Texas metros.
Vacancy
Vacancy is running near 6 percent, within a normal range for a healthy market.
Rent trend
Average apartment rent is about $1,134 per month, down roughly 0.6 percent year over year.
2026 Lubbock forecast at a glance:
- New supply stays limited
- Vacancy holds near 6 percent
- Rents level off after recent gains
- Major employer expansion supports demand
Lubbock Multifamily Loans (Over $6 Million)
For larger Lubbock 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 Lubbock 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.
Lubbock Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Lubbock 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 Lubbock
As a full-service commercial mortgage broker, we arrange Lubbock financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Lubbock Neighborhoods We Serve
Select Commercial provides apartment loans throughout Lubbock, Texas and the surrounding area, including:
- Tech Terrace
- Overton
- Heart of Lubbock
- Maxey Park
- Wheelock
- Clapp Park
- Bayless
- Bowie
- North Overton
- Guadalupe
- Arnett Benson
- Wester
- Preston Smith
- Rush
- Stubbs
- Melonie Park
- Vintage Township
- McCrummen
For other cities in the state, see Texas apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
Houston · Dallas · Austin · San Antonio · El Paso · 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 Lubbock Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Lubbock 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