Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Miami, Florida
Miami Apartment Loans in 2026
Select Commercial specializes in Miami apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.68% and up to 80% LTV. For properties elsewhere in the state, see our Florida apartment loans; for loans over $6 million, see Miami multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Miami
Miami apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Florida apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Miami Apartment Loan Rates
Rates updated as of August 20, 2026
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.08% | Up to 80% |
| 7 Year Fixed | 6.19% | Up to 80% |
| 10 Year Fixed | 6.28% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 5.68% | Up to 75% |
| 7 Year Fixed | 5.79% | Up to 75% |
| 10 Year Fixed | 5.88% | 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 20, 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 Miami Apartment Loan Programs
As a broker, we compare every program to find your best-fit Miami apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.08% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.15% | Up to 80% | $2M to $10M 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 Miami multifamily loans.
2026 Miami Apartment Loan Market: Retention Strength Offsets Leasing Headwinds as Deliveries Ease
Miami is expected to remain a high-demand market in 2026, supported by residents pursuing higher-paying jobs and a continued pullback in new apartment deliveries. For Miami investors evaluating apartment building loans, the fundamentals that drive a Miami apartment loan stay consistent, including employment direction, the pace of supply, vacancy movement, and rent performance. Where noted, market statistics reflect the Miami-Dade metro.
Employment
Miami-Dade is projected to add about 9,000 jobs in 2026 (approximately +0.7%). Professional services, education, and health care are expected to drive growth, while hospitality, manufacturing, and retail may continue to see losses.
Construction and supply
Inventory growth is forecast to ease to about 1.6% in 2026, tied for the slowest pace in the past decade. Completions are projected near 5,500 units. Deliveries are increasingly concentrated in downtown and Northeast Miami, while areas that saw elevated completions in recent years, such as Hialeah and Homestead, are seeing a pullback in construction.
Vacancy
Despite fewer completions, vacancy in Miami-Dade is forecast to tick up to about 4.9% (about +20 bps) as immigration headwinds weigh on rental demand. The metro's rate is projected to stand roughly 80 basis points above the past decade's average, reflecting one of the nation's largest foreign-born populations.
Rent trend
Rent growth is expected to remain modest in 2026, though fewer deliveries may support upper-tier gains. Miami-Dade's average effective rent is projected to reach about $2,740 per month by year-end (approximately +2.7%).
2026 Miami forecast at a glance:
- Employment: Miami-Dade adds about 9,000 jobs in 2026 (about +0.7%)
- Construction: about 5,500 units projected, inventory growth around 1.6%
- Vacancy: forecast near 4.9% (about +20 bps)
- Rent: average effective rent projected near $2,740 per month (about +2.7%)
Miami Multifamily Loans (Over $6 Million)
For larger Miami 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 Miami 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.
Miami Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Miami 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 Miami
As a full-service commercial mortgage broker, we arrange Miami financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Miami Neighborhoods We Serve
Select Commercial provides apartment loans throughout Miami, Florida and the surrounding area, including:
- Allapattah
- Brickell
- Buena Vista
- Civic Center
- Coconut Grove
- Coral Way
- Design District
- Downtown
- Edgewater
- Flagami
- Grapeland Heights
- Liberty City
- Little Haiti
- Little Havana
- Lummus Park
- Midtown
- Omni
- Overtown
- Park West
- The Roads
- Upper East Side
- Wynwood
For other cities in the state, see Florida apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
Orlando · Tampa · Fort Lauderdale · Jacksonville · All Florida · 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 Miami Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Miami 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