Colorado · Over $6 Million
Colorado Multifamily Loans
Select Commercial arranges Colorado multifamily loans, with rates as low as 6.14%, up to 80% LTV and non-recourse agency options. We compare Fannie Mae, Freddie Mac, FHA/HUD and CMBS. For loans under $6 million, see Colorado apartment loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Colorado
Colorado apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Colorado apartment loans and Colorado commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Colorado Multifamily Loan Rates
Rates updated as of October 22, 2026
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.14% | Up to 80% |
| 7 Year Fixed | 6.17% | Up to 80% |
| 10 Year Fixed | 6.21% | Up to 80% |
- Streamlined underwriting for institutional multifamily
- Cash-out refinances are acceptable
- Interest-only and non-recourse options
- Minimum 1.25x debt-service-coverage ratio
Colorado Apartment Loans
For smaller apartment building loans, under $6 million
Rates last updated October 22, 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.
Colorado Apartment Building Loans
Not every Colorado apartment property is over $6 million, and we finance smaller buildings too. For 5+ unit Colorado apartment properties from $1,500,000 to $6 million, see our Colorado apartment loans page for Fannie Mae Small Loan, Freddie Mac SBL, bank and credit union options.
Compare Colorado Large-Balance Programs
As a broker we place your large-balance Colorado multifamily loan with the right capital source. Typical starting points for properties over $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae DUS | 6.14% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac | 6.17% | Up to 80% | Non-recourse large-balance |
| FHA / HUD | 6.74% | Up to 85% | Highest leverage, 35-yr amortization |
| CMBS / conduit | 7.03% | Up to 75% | Non-recourse, flexible underwriting |
Most large-balance lenders look for a debt-service-coverage ratio (DSCR) of at least 1.25x. For properties under $6 million, see our Colorado apartment loans.
Rates last updated October 22, 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.
2026 Colorado Multifamily Investment and Lending Outlook
Denver is the rare market where demand is strong and rents are still falling. Both things are true at once, and reading only one of them produces the wrong loan.
Matthews reported Denver trailing-twelve-month multifamily volume of about $2.8 billion through the second quarter of 2026, down 43.2% year over year, at an average cap rate near 5.36% and roughly $259,956 per unit. Volume fell that far because sellers with low fixed-rate debt had no reason to transact, not because buyers disappeared.
On the operating side, net absorption ran about 5,902 units, up 58%, while vacancy held near 5.74% and asking rents fell roughly 4.7%. Renters are signing leases in volume. They are signing them at concessions, because the construction pipeline that delivered through 2024 and 2025 is still being filled.
That combination has a specific consequence for a Colorado loan. Trailing twelve-month revenue on a Denver property is, for many assets, the high-water mark rather than the floor. Agency and conduit underwriters know it, and they are sizing off in-place collected rent with concessions netted out rather than off a gross rent roll. If your property gave two months free to fill the last twenty units, the effective rent is the number that will carry your debt service coverage, and the gap between gross and effective is where most Denver deals lose proceeds.
Colorado Springs, Fort Collins and the Boulder submarkets each run on their own supply cycle, so the Denver figures are a starting point for a conversation rather than a substitute for property-level data.
Colorado’s Government Purchase Rights Can Add Months to a Sale
Since August 7, 2024, Colorado has given local governments purchase rights over certain rental properties under HB24-1175, codified at C.R.S. § 29-4-1201 et seq. It is the single most important thing to check before you sign a purchase contract in this state, and it is easy to check because the thresholds are numeric.
The right of first refusal applies to for-rent properties carrying affordability restrictions, at five units or more, with no upper limit. The owner must give notice no less than two years before the last restrictive covenant expires, and again no less than six months before. After a triggering event the owner notifies within 14 days, the local government has 14 days to preserve or waive, then an additional 30 days to make an offer, and 60 days to close once an offer is accepted.
The right of first offer applies to market-rate properties of between 15 and 100 units that have held a certificate of occupancy for at least 30 years. Notice is required before you engage a broker. The local government then has seven days to request diligence materials, the owner has five days to produce them, and the government has 14 days to make an offer or waive. If the sale does not close within 12 months, the notice must be given again.
Read those two thresholds together and the practical map is clear. A market-rate property over 100 units is outside the right of first offer entirely, which covers most institutional-scale Colorado assets. A 1970s through mid-1990s vintage building of 15 to 100 units is squarely inside it, and that describes a large share of the state’s value-add inventory. Any covenanted affordable property of five units or more is inside the refusal right regardless of size.
Penalties for skipping the process start at $10,000 for a first offense and $30,000 for later ones, capped at $100,000 per offense, plus damages and attorney fees. The rights terminate December 31, 2029, with the statute repealed July 1, 2031.
For financing, the effect is calendar rather than credit. Build the notice periods into your rate lock and your closing timeline from the start. A Colorado seller who discovers this requirement after going under contract loses weeks, and a rate lock does not care why you are late.
2026 Colorado Multifamily Metro Snapshots
A look at the Colorado metros we most actively finance, with 2026 market indicators and the local supply and demand picture:
- Employment: about 8,000 jobs added, supported by modest office-using gains
- Construction: completions near 6,000 units, inventory growth around 1.7%
- Vacancy: projected near 6.0%, with a modest increase of about 10 bps
Colorado Multifamily Loan Programs
As a broker, we compare every large-balance program to find your best fit:
Recent Multifamily Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
Other Property & Loan Types We Finance in Colorado
As a full-service commercial mortgage broker, we arrange Colorado financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
What Our Clients Say
“As a real estate attorney, I trust that Select Commercial will deliver commercial mortgages in a timely manner. My clients are always handled professionally, and the rates and terms are excellent. I heartily recommend them.”
David S. · New York City“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 Colorado Multifamily Loan Quote
No cost, no obligation. Written answers within 48 hours on Colorado multifamily loans over $6,000,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up