St Louis Multifamily Loans
Select Commercial specializes in St Louis multifamily loans starting at $6 million and above. Whether you're acquiring a large multifamily complex or refinancing a stabilized portfolio, we offer competitive rates, low fees, and expert guidance on multifamily financing across the city of St Louis.
Need a loan under $6 million? Visit our St Louis apartment loan page. For other commercial property types, explore our St Louis commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
St Louis Multifamily Loan Rates
Below are our current St Louis multifamily loan rates for properties over $6 million. Looking for a smaller loan? We also offer apartment building loan programs for St Louis properties under $6 million.
| NY Multifamily Loans ($6 million and up) | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily Loan 5 Yr Fixed | 5.18% | Up to 75% | |
| Multifamily Loan 7 Yr Fixed | 5.23% | Up to 75% | |
| Multifamily Loan 10 Yr Fixed | 5.30% | Up to 75% | |
*Rates start as low as shown and are based on underwriting criteria, borrower experience, and property strength.
Ready to get started? Click here to request a customized loan quote for your St Louis multifamily property.
2025 St. Louis Multifamily Loan Market Overview
St. Louis moved through a significant delivery cycle over the past year, and by mid-2025 the market showed clearer signs of stabilization. Demand improved into Q2 as net absorption remained positive, while the construction pipeline continued to contract. With starts slowing and lease-ups progressing, the backdrop into 2026 looks increasingly balanced for larger-balance executions.
Multifamily Rent & Occupancy in Q2 2025
St. Louis closed Q2 2025 with vacancy around 10.7%. Year-to-date, the metro recorded roughly ~695 units of positive absorption, partially offset by new deliveries earlier in the year. Asking rents were broadly stable during the quarter with selective concessions where recent completions are concentrated.
- Absorption vs. Deliveries (H1 2025): positive demand with deliveries modestly outpacing in early 2025.
- Pipeline: units under construction declined substantially from 2024 levels, easing forward supply pressure.
Market Trends & Sales Activity
Stabilization has been quickest in job-rich, infill corridors and submarkets with fewer 2024–2025 completions. Investment pricing remains quality- and location-dependent; for stabilized institutional product, cap rates commonly clear in the low- to mid-5% range in 2025, with spreads narrowing as financing conditions improve.
Why Investors Look to St. Louis for Multifamily Financing
St. Louis benefits from diversified employment, attainable rents, and a pipeline that is normalizing after a peak delivery year. With absorption holding positive and starts slowing, sponsors targeting professionally managed assets have a constructive setup for larger-balance executions. Select Commercial provides tailored multifamily commercial real estate loan solutions for $6 million+ to support acquisitions, refinances, and recapitalizations across the St. Louis metro.
To learn more about your St. Louis financing options, reach out today for a customized quote.
Why Choose Select Commercial for Multifamily Loans
What sets Select Commercial apart from traditional lenders and large banks? In this short video, we highlight the key reasons multifamily building investors choose to work with us for St Louis multifamily loans. We also actively finance apartment building loans below $6 million.
Here’s what the video touches on:
- No upfront application or processing fees
- Fast written pre-approvals often within 24 hours
- Access to a wide range of multifamily lenders, not just one bank
- Loan structures tailored to your property and investment goals
What Lenders Look for in a St Louis Multifamily Loan
What Lenders Look For
Before you apply for a St Louis Multifamily loan, it helps to understand what lenders are actually evaluating. In this short video, Select Commercial President Stephen Sobin outlines the key borrower and property qualifications that influence approval.
Watch to learn:
- What makes a loan request stand out or get rejected
- The importance of cash flow, occupancy, and borrower experience
- Which documents lenders require to issue a pre-approval
Understanding Your Multifamily Loan Options
Multifamily Loan Lending Options
Not all multifamily loans are created equal. In this short video, Stephen Sobin explains the most common types of multifamily loan programs and when each one makes the most sense for St Louis borrowers.
- Bank vs. agency vs. private multifamily lenders
- Short-term vs. long-term fixed-rate options
- How to structure your loan based on your property and investment goals
Our St Louis Multifamily Loan Process
We make applying for a St Louis multifamily loan fast, transparent, and cost-effective. Our process is designed for borrowers seeking large balance multifamily financing backed by experienced multifamily lenders. Below is a step-by-step overview of what to expect when working with Select Commercial:
Step 1: Initial Screening
During an introductory call or email, we gather the basics of your transaction. If the request doesn’t meet multifamily loan guidelines, we’ll let you know right away.
Step 2: Document Request
If eligible, we’ll send a short checklist to review your financials, credit, and property cash flow. This helps us evaluate your multifamily commercial real estate loan scenario.
Step 3: Underwriter Review
Once documents are received, underwriting begins. If your multifamily loan qualifies, we issue a written pre-approval. If not, we’ll explain why.
Step 4: Pre-Approval Letter
If approved, we send a detailed pre-approval letter outlining preliminary terms and any additional documentation needed.
Step 5: Third-Party Reports
Once pre-approved, the underwriter orders the appraisal and other required third-party reports. A good faith deposit is collected to cover these costs.
Step 6: Final Submission
Once all documentation and reports are in, underwriting is finalized and a formal multifamily loan commitment is issued.
Step 7: Legal & Closing
Our legal team prepares the closing checklist and any final conditions. Once satisfied, we move forward with closing.
Step 8: Timeline
Most multifamily loans close within 30 to 60 days, depending on deal complexity and how quickly documents are submitted.
Multifamily Property Types We Finance in St Louis
At Select Commercial, we provide multifamily financing for a broad range of St Louis multifamily properties, from stabilized 5+ unit buildings to large scale portfolios. Whether your asset is urban, suburban, or mixed use, we tailor each multifamily commercial real estate loan to match your investment strategy and property type.
- Urban mid rise and high rise multifamily buildings
- Suburban garden style multifamily complexes
- Small multifamily buildings with 5+ units
- Mixed use properties with residential and limited commercial space
- Underlying co op building loans
- Portfolios of small multifamily or single family rental properties
- Stabilized properties with solid cash flow and rent history
If you're unsure whether your property qualifies for a multifamily loan, contact us for a free quote and we'll review your deal within 24 hours.
Recent Multifamily Loan Closings
Our Reviews
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a renowned expert in the field of multifamily financing. His insights and perspectives are regularly sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.
Navigating Opportunity, Risk as 2025 Winds Down
In an article for Commercial Property Executive titled "Navigating Opportunity, Risk as 2025 Winds Down", Sobin explains as we head into the final stretch of 2025, the commercial real estate industry stands at a pivotal moment. After several years of upheaval—from pandemic disruptions to aggressive Federal Reserve rate hikes and lasting shifts in how people live and work—the sector is entering a new phase.
Why Lower Rates Haven't Fixed Commercial Real Estate
In an article for Wealth Management titled "Why Lower Rates Haven't Fixed Commercial Real Estate", Sobin explains that even as the Federal Reserve has begun cutting rates and borrowing costs should be falling, the commercial real estate sector remains locked in a frustrating stalemate. For high-net-worth investors trying to time the market, he emphasizes that understanding this disconnect requires looking beyond the headlines.
Why the Fed Rate Cut’s a Game Changer for CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that after months of speculation and market anticipation, the Federal Reserve finally pulled the trigger last week, cutting the federal funds rate by 25 basis points to 4.00 to 4.25 percent. read the full article.
Inflation's Current Impact on Apartment
In an article featured in Multi-Housing News, Sobin explains how commercial mortgage rates continue to challenge investors, with elevated inflation depressing real estate market activity. Read the full article.
Will the July Jobs Report Pressure the Fed to Act?
Sobin noted in Multi-Housing News that unemployment hit a three-year high and job creation slowed significantly, factors that could push the Fed to reconsider future rate hikes. Read the full article.
Persistent Inflation and Its Effects on CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that while inflation is still a challenge for the Federal Reserve, there are many positive signs for the commercial real estate industry. The headline Consumer Price Index rose 3.2 percent for the year ended Feb. 29, a figure 20 basis points lower than the Dec. 31, 2023, rate. read the full article.
Commercial Spotlight: Mid-Atlantic Region In this four-state powerhouse, smaller metros are thriving.
In a feature in Scotsman Guide, the Mid-Atlantic Region's real estate dynamics are explored, highlighting its resilience and growth amidst the pandemic.
Stephen Sobin of Select Commercial Funding LLC shared insights on the New York market's allure and the challenges buyers face. He noted the shift from primary urban areas to tertiary markets due to evolving preferences and financial conditions. For a deeper dive into Sobin's analysis, read the full article.
What the New Jobs Report Means for CRE
In an article titled "What the New Jobs Report Means for CRE" in Commercial Property Executive, Stephen Sobin shared his perspective on the latest jobs report and its implications for the Commercial Real Estate (CRE) sector. He highlighted the challenges posed by high interest rates and the prevailing uncertainty in the market. Sobin remarked, "Sellers aren’t selling, buyers aren’t buying... Everyone is waiting because no one knows what to expect." For a detailed analysis and more of Sobin's insights, read the full article.
Decoding "Junk Fees" in Rental Housing
In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.
Understanding the Impact of Federal Reserve's Decisions
In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.
Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.
Frequently Asked Questions About St Louis Multifamily Loans
Multifamily loan rates in St Louis depend on several factors including loan size, property condition, borrower strength, and leverage. As of 2025, interest rates remain elevated due to persistent inflation, but high-quality borrowers with strong assets can still secure competitive terms. For other property types, view our latest commercial mortgage rates for updates.
Lenders generally require a DSCR of 1.25 or better, strong borrower credit, relevant experience, and post-closing liquidity. For large balance multifamily commercial real estate loans, loan-to-value ratios typically range from 65% to 80%, depending on cash flow.
Large balance multifamily financing requires tailored solutions. Select Commercial works with a wide range of capital sources, including banks, life companies, CMBS, agency, and private lenders, giving you access to more options, better terms, and higher certainty of execution.
The process begins with a review of property-level financials, including a current rent roll, trailing 12-month operating statement, borrower net worth, liquidity, and experience. Our team quickly assesses eligibility and provides a pre-approval when qualified. Start with a Free Quote today.
Select Commercial also specializes in loans under $6 million. If you're refinancing a smaller apartment loan, we can help structure multifamily financing with competitive rates and flexible terms. Visit our St Louis apartment loan page for details.
Agency Large‑Balance Multifamily Loan Programs (Over $6 Million)
Select Commercial connects borrowers with premier agency-backed large-balance multifamily loan programs, perfect for financing institutional-scale properties across St Louis and beyond.
- Fannie Mae® Multifamily (DUS® platform) – Large‑balance non‑recourse multifamily financing, including fixed, floating, hybrid‑ARM, and interest‑only options
- Freddie Mac® Multifamily – Comprehensive large‑balance multifamily financing (fixed and floating) with up to $250 M in loan capacity
Agency loans offer nonrecourse financing, competitive fixed- or floating-rate options, leverage up to ~80% LTV, and streamlined execution. They’re ideal for experienced investors targeting well-performing multifamily assets.
St Louis Multifamily Financing
Select Commercial provides multifamily and commercial mortgage loans throughout Missouri, with services available in every city and town. The areas below represent just a few of the markets we serve.