Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Michigan · Over $6 Million
Michigan Multifamily Loans
Select Commercial arranges Michigan multifamily loans over $6 million, with rates as low as 5.74%, 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 Michigan apartment loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Michigan
Michigan apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Michigan apartment loans and Michigan commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Michigan Multifamily Loan Rates (Over $6 Million)
| Loan Type | Rate* | Max LTV |
|---|---|---|
| Multifamily 5 Year Fixed | 5.78% | Up to 80% |
| Multifamily 7 Year Fixed | 5.74% | Up to 80% |
| Multifamily 10 Year Fixed | 5.88% | Up to 80% |
- Rates as low as 5.74% on large-balance Michigan multifamily loans
- Loan amounts from $6,000,000, no maximum
- Non-recourse agency options up to 80% LTV
- Fixed terms and amortizations up to 30 years, longer with HUD
- No upfront application or processing fees
- 48-hour written pre-approvals, no cost or obligation
Rates last updated August 2026. They apply to stabilized multifamily over $6 million; your rate and leverage are set by underwriting.
Compare Michigan Large-Balance Programs
As a broker we place your large-balance Michigan 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 | 5.88% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac | 5.74% | Up to 80% | Non-recourse large-balance |
| FHA / HUD | 5.78% | Up to 85% | Highest leverage, 35-yr amortization |
| CMBS / conduit | 6.67% | 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 Michigan apartment loans.
2026 Michigan Multifamily Investment and Lending Outlook
Large-balance Michigan multifamily financing over $6 million is driven by agency lending appetite, the cap-rate environment and a growing wave of loan maturities. Fannie Mae DUS and Freddie Mac remain the dominant sources of non-recourse capital for stabilized Michigan assets, competing with CMBS, life companies and banks. As cap rates stabilize and the bid-ask gap narrows, acquisition and refinance activity on larger properties is picking up, and many owners are refinancing prior-cycle debt into agency or bridge structures. For the detailed 2026 rental-market outlook, see our Michigan apartment loans page.
2026 Michigan Multifamily Metro Snapshots
A look at the Michigan metros we most actively finance, with 2026 market indicators and the local supply and demand picture:
- Employment: about 5,000 new jobs
- Construction: about 2,100 units, inventory growth of 0.7%
- Vacancy: around 3.9% by year-end
Michigan Multifamily Loan Programs
As a broker, we compare every large-balance program to find your best fit:
Recent Apartment Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
Other Property & Loan Types We Finance in Michigan
As a full-service commercial mortgage broker, we arrange Michigan 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 Michigan Multifamily Loan Quote
No cost, no obligation. Written answers within 48 hours on Michigan 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