Rochester Multifamily Loans
Select Commercial specializes in Rochester 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 Rochester.
Need a loan under $6 million? Visit our Rochester apartment loan page. For other commercial property types, explore our Rochester commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
Rochester Multifamily Loan Rates
Below are our current Rochester multifamily loan rates for properties over $6 million. Looking for a smaller loan? We also offer apartment building loan programs for Rochester properties under $6 million.
| NY Multifamily Loans ($6 million and up) | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily Loan 5 Yr Fixed | 5.26% | Up to 75% | |
| Multifamily Loan 7 Yr Fixed | 5.31% | Up to 75% | |
| Multifamily Loan 10 Yr Fixed | 5.40% | 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 Rochester multifamily property.
2025 Rochester Multifamily Loan Market Overview
Rochester enters 2025 as one of upstate New York's most stable and investable multifamily markets. With a resilient local economy led by education, healthcare, and advanced manufacturing, the city supports strong rental demand, particularly in centrally located and university-adjacent neighborhoods. Investors are attracted to Rochester's affordability, consistent cash flow, and low barriers to entry.
Rochester Multifamily Loan Rates in Early 2025
Recent interest rate reductions by the Federal Reserve have improved overall sentiment among multifamily lenders. Still, long-term commercial loan rates remain influenced by higher Treasury yields, now hovering above 4.50%. Rochester's low price points and strong DSCR (debt service coverage ratios) continue to attract bank and agency lenders looking for reliable mid-market placements.
Rochester Multifamily Market Trends
Rochester is undergoing a steady but meaningful real estate resurgence, with redevelopment projects in the East End, Center City, and University corridor gaining traction. The city's diverse economy, affordable housing stock, and growing student and young professional populations have made it a hot spot for value-add and workforce housing investors in 2025.
Current Rent Prices in Rochester
As of June 2025, Rochester's average multifamily rent is $1,375 per month, well below state and national urban averages. Rents by apartment type are:
- Studio: $1,000
- One-bedroom: $1,200
- Two-bedroom: $1,500
- Three-bedroom: $1,825
Affordable rents combined with low vacancy rates and strong demand make Rochester one of the most cash-flow-friendly markets in the state.
Rochester’s Multifamily Housing Supply and Demand
While there has been some new development, most of Rochester's housing stock remains older and in need of renovation, offering value-add opportunities for investors. The demand for well-maintained, professionally managed units continues to rise, particularly in walkable areas near transit and educational institutions like the University of Rochester and RIT.
Investment Opportunities in Rochester’s Multifamily Market
Investors are targeting a wide range of multifamily assets in Rochester, from duplexes and fourplexes to larger apartment buildings. Popular areas include Park Avenue, South Wedge, and the East End. With cap rates often ranging from 6.5% to 7.5%, Rochester offers far better yield potential than coastal metros while maintaining long-term stability.
Securing a Multifamily Loan in Rochester with Select Commercial
Select Commercial has a proven track record of helping clients finance multifamily properties across upstate New York. Whether you're seeking to acquire, refinance, or renovate a property in Rochester, our team will guide you through every step, offering competitive loan products and expert local insight.
Contact Select Commercial today to explore multifamily financing options in Rochester's thriving rental market.
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 Rochester 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 Rochester Multifamily Loan
What Lenders Look For
Before you apply for a Rochester 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 Rochester 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 Rochester Multifamily Loan Process
We make applying for a Rochester 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 Rochester
At Select Commercial, we provide multifamily financing for a broad range of Rochester 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 apartment financing. His insights and perspectives are regularly featured in leading industry publications. Below are his latest contributions, offering deep analysis on the apartment financing landscape and current market dynamics.
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 Multifamily
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 Multi-Housing News, Sobin acknowledges that while inflation remains a concern, a softening CPI is a promising signal for investors navigating the multifamily loan landscape. Read the full article.
Commercial Spotlight: Mid-Atlantic Region
Featured in Scotsman Guide, Sobin outlines how shifting investor interest is impacting Rochester and other Mid-Atlantic multifamily commercial real estate markets. Read the full article.
What the New Jobs Report Means for CRE
In Commercial Property Executive, Sobin offers perspective on economic uncertainty and buyer-seller hesitancy across the commercial real estate and multifamily financing sectors. Read the full article.
Decoding "Junk Fees" in Rental Housing
In Multi-Housing News, Sobin helps clarify the difference between legitimate third-party fees and misleading “junk fees.” Read the full article.
Understanding the Impact of Federal Reserve's Decisions
In Multi-Housing News, Sobin forecasted the Fed's rate pause, citing recession concerns and recent bank instability. Read the full article.
Stay tuned for more expert insights from Stephen A. Sobin as he continues to share his expertise on multifamily loans, capital markets, and financing solutions throughout Rochester and across the country.
Frequently Asked Questions About Rochester Multifamily Loans
Multifamily loan rates in Rochester 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 Rochester 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 Rochester 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.
Rochester Multifamily Financing
Select Commercial provides multifamily and commercial mortgage loans throughout New York, with services available in every city and town. The areas below represent just a few of the markets we serve.