Massachusetts · Over $6 Million
Massachusetts Multifamily Loans
Select Commercial arranges Massachusetts multifamily loans, with rates as low as 6.40%, 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 Massachusetts apartment loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Massachusetts
Massachusetts apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Massachusetts apartment loans and Massachusetts commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Massachusetts Multifamily Loan Rates
Rates updated as of October 2, 2026
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.66% | Up to 80% |
| 7 Year Fixed | 6.75% | Up to 80% |
| 10 Year Fixed | 6.64% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.40% | Up to 80% |
| 7 Year Fixed | 6.44% | Up to 80% |
| 10 Year Fixed | 6.44% | 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
Rates last updated October 2, 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.
Massachusetts Apartment Buildings Under $6 Million
Not every Massachusetts apartment property is over $6 million, and we finance smaller buildings too. For 5+ unit Massachusetts apartment properties from $1,500,000 to $6 million, see our Massachusetts apartment loans page for Fannie Mae Small Loan, Freddie Mac SBL, bank and credit union options.
Compare Massachusetts Large-Balance Programs
As a broker we place your large-balance Massachusetts 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 | 6.40% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac | 6.44% | Up to 80% | Non-recourse large-balance |
| FHA / HUD | 6.70% | Up to 85% | Highest leverage, 35-yr amortization |
| CMBS / conduit | 7.26% | 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 Massachusetts apartment loans.
Rates last updated October 2, 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 Massachusetts Multifamily Investment and Lending Outlook
Boston multifamily sales reached roughly $1.8 billion year to date in 2026, with first-quarter transaction totals running more than 50% ahead of the same period last year (Matthews, August 2026; Northmarq, Q1 2026).
Massachusetts prices like no other market in the set. Boston cap rates are holding near 5.2% and average pricing sits at roughly $442,000 per unit, the highest of any metro on this site. At that basis, small movements in the exit cap matter more to a ten-year loan than they do almost anywhere else.
Demand is well ahead of supply. About 2,500 units have been delivered year to date against roughly 6,400 absorbed, with vacancy at 5.6% and asking rents of $3,010 per unit, up 2.0% over the year.
Worcester, Springfield and the Merrimack Valley run at a very different basis from Boston and carry their own lender set.
Boston’s BERDO Is Now a Capital Item on Large Apartment Buildings
Boston’s Building Emissions Reduction and Disclosure Ordinance covers residential buildings with 15 or more dwelling units, which means effectively every large-balance apartment property in the city is a regulated building.
The standard tightens on a schedule. The greenhouse-gas intensity limit for multifamily housing is 4.1 kgCO2e per square foot per year for 2025 through 2029, falling to 2.4 for 2030 through 2034, and to zero by 2050. A building that complies comfortably today can fall out of compliance in 2030 without any change in how it operates.
Non-compliance has a price, and it is published. An owner may make an alternative compliance payment set initially at $234 per metric ton of CO2e. Reporting failures carry fines of $300 a day and emissions-standard violations $1,000 a day.
That is why Boston lenders now underwrite a retrofit or compliance-payment reserve on large apartment assets rather than treating emissions as a disclosure formality. Bring your most recent BERDO report, your current emissions intensity against the 2030 threshold, and any capital plan already scoped. A building with a credible path to the next step-down finances differently from one without.
2026 Massachusetts Multifamily Metro Snapshots
A look at the Massachusetts metros we most actively finance, with 2026 market indicators and the local supply and demand picture:
- Employment: about 6,000 jobs added in 2026, with growth near 0.2%
- Construction: inventory growth around 1.1%, deliveries running below the decade average
- Vacancy: metrowide vacancy forecast to rise moderately to about 4.2%
Massachusetts Multifamily Loan Programs
As a broker, we compare every large-balance program to find your best fit:
Recent Multifamily Loan Closings
A sample of multifamily loans we have arranged for investors nationwide.
Other Property & Loan Types We Finance in Massachusetts
As a full-service commercial mortgage broker, we arrange Massachusetts 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 Massachusetts Multifamily Loan Quote
No cost, no obligation. Written answers within 48 hours on Massachusetts multifamily loans.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up