Idaho · Over $6 Million
Idaho Multifamily Loans
Select Commercial arranges Idaho 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 Idaho apartment loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Idaho
Idaho apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Idaho apartment loans and Idaho commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Idaho 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
Idaho 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.
Idaho Apartment Building Loans
Not every Idaho apartment property is over $6 million, and we finance smaller buildings too. For 5+ unit Idaho apartment properties from $1,500,000 to $6 million, see our Idaho apartment loans page for Fannie Mae Small Loan, Freddie Mac SBL, bank and credit union options.
Compare Idaho Large-Balance Programs
As a broker we place your large-balance Idaho 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 Idaho 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 Idaho Multifamily Investment and Lending Outlook
Idaho’s large-balance multifamily market is thin enough that individual sales set the comparables. That is the most useful thing to understand about financing here.
Lee & Associates reported an average cap rate near 5.24% and roughly $236,464 per unit for the first quarter of 2026, with vacancy near 7.8%. On the transaction side, the Boise area produced a small number of large trades that effectively define the top of the market: Prelude at Paramount at about $79.5 million for 280 units, roughly $283,929 per unit, and District 208 at about $61 million for 252 units.
Read those together and the tension is visible. Buyers are paying a cap rate in the low fives in a market running near 8% vacancy. They are paying for Treasure Valley population and employment growth rather than for current income.
The financing consequence is about appraisal rather than credit. When a state produces only a handful of institutional-scale sales in a year, an appraiser has a short list of comparables and a wider range of defensible conclusions. That shows up as longer appraisal timelines, more scrutiny of adjustments, and occasionally a value that lands below contract on a property that is objectively fine. Build appraisal contingency into an Idaho purchase timeline, and expect the lender to lean harder on the income approach than on sales comparison.
Outside the Boise, Meridian and Nampa corridor, properties large enough to carry a loan over $6 million are uncommon, and Coeur d’Alene, Idaho Falls and Pocatello product at that size is usually new construction.
Idaho’s Occupancy Tax Puts a New Building on the Roll Mid-Lease-Up
Most states add a newly built property to the tax roll on a single annual assessment date. Idaho does not, and the difference matters on any recently completed property.
Under Idaho Code § 63-317, newly constructed and occupied residential, commercial and industrial structures are subject to an occupancy tax for the portion of the calendar year in which first occupancy occurs. Additions to existing improvements are excluded. “Occupied” is defined broadly: residential use by any person, business or commercial use unrelated to construction and sale, or any possessory use for which the owner receives compensation. In practice, the first paying tenant starts the clock.
The windows are short. The owner receives notice of appraised value and has 28 days to appeal. Applications for exemption under §§ 63-602G and 63-602X must be filed within 30 days of the assessor’s notice, and tax reduction claims are due by September 1 or go to a supplemental roll.
Three things follow for a loan on a new or recently completed Idaho property.
The trailing tax expense is structurally understated. During construction the improvement is not generating an occupancy tax, and in the first partial year it generates only a prorated amount. The property’s own operating history therefore cannot show you the stabilized tax line, and a pro forma built from it will overstate net operating income in exactly the year your debt service coverage is being tested. Underwrite the full-year figure at the completed assessed value.
Buying mid-lease-up means inheriting a running clock. If the assessor issued notice before your closing, the 28-day appeal window and the 30-day exemption window may already be partly consumed, and they do not restart on a change of ownership. Ask for the occupancy tax notice in diligence alongside the rent roll. It is a document sellers forget to produce because it does not look like a tax bill.
Proration cuts both ways on the closing statement. A property first occupied late in the calendar year carries a small occupancy tax for that year and a full assessment the next. Prorating the current year’s small number at closing without reserving for the step up leaves the buyer short in year one.
None of this is unusual once you have seen it. It is simply a sequence Idaho handles differently, and the cost of missing it is a tax line that is wrong for the life of the loan.
Idaho 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.
Idaho Multifamily Markets We Serve
We arrange large-balance multifamily loans throughout Idaho, including:
Other Property & Loan Types We Finance in Idaho
As a full-service commercial mortgage broker, we arrange Idaho 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 Idaho Multifamily Loan Quote
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- For 5+ unit and commercial properties, $1.5M and up