Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Memphis, Tennessee · Over $6 Million
Memphis Multifamily Loans
Select Commercial specializes in Memphis multifamily loans over $6 million, with rates from 5.74%, up to 80% LTV and non-recourse agency options. Whether you are acquiring a large complex or refinancing a stabilized portfolio, we compare every large-balance option. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Memphis
Memphis apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Tennessee apartment loans and Tennessee commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Memphis 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 Memphis 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. 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.
Compare Memphis Large-Balance Programs
As a broker, we place your large-balance Memphis 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 Memphis apartment loans.
2026 Memphis Multifamily Investment and Lending Outlook
Large-balance Memphis multifamily financing over $6 million turns on a different set of drivers than smaller apartment loans: agency lending appetite, the cap-rate environment, investment-sales activity and the wave of loan maturities coming due. The Memphis metro supports roughly 652,000 nonfarm jobs, essentially flat over the past year as modest gains in logistics and health care were offset by softness in government and some goods producing sectors, which supports demand for larger stabilized assets.
Memphis Agency and Institutional Lending
Fannie Mae DUS and Freddie Mac remain the dominant sources of non-recourse capital for stabilized Memphis multifamily over $6 million, competing with CMBS, life companies and banks. For well-occupied assets, agency execution usually offers the tightest pricing, the longest terms and a non-recourse structure, with FHA/HUD available for the highest leverage and longest amortization.
Memphis Cap Rates and Investment Sales
After a repricing cycle, Memphis multifamily cap rates have largely stabilized and buyers are re-entering as the bid-ask gap narrows. Investors focused on stabilized, cash-flowing assets are finding better-aligned pricing, which supports both acquisition and refinance lending on larger properties.
Memphis Loan Maturities and Refinance
A meaningful volume of multifamily debt originated in the prior low-rate cycle is reaching maturity, and many Memphis owners are refinancing into agency or bridge structures. We help borrowers navigate rate resets, supplemental financing and cash-out where the property supports it.
For the full 2026 Memphis rental-market breakdown, employment, construction, vacancy and rent trends, see our Memphis apartment loans page.
Our Memphis Multifamily Loan Process
We make applying for a large-balance Memphis multifamily loan fast, transparent and cost-effective:
- Step 1: Initial Screening. On an introductory call or email we gather the basics of your transaction. If the request does not meet multifamily loan guidelines, we tell you right away.
- Step 2: Document Request. If eligible, we send a short checklist to review your financials, credit and property cash flow.
- Step 3: Underwriter Review. Once documents are received, underwriting begins. If your loan qualifies, we issue a written pre-approval.
- Step 4: Pre-Approval Letter. We send a detailed pre-approval letter outlining preliminary terms and any additional documentation needed.
- Step 5: Third-Party Reports. The underwriter orders the appraisal and other required reports.
- Step 6: Final Submission. Once all documentation and reports are in, underwriting is finalized and a formal loan commitment is issued.
- Step 7: Legal and Closing. Our team prepares the closing checklist and any final conditions, then moves forward with closing.
- Step 8: Timeline. Most large-balance multifamily loans close within 30 to 60 days, depending on complexity.
Recent Apartment Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
Memphis Multifamily Property Types We Finance
We provide large-balance multifamily financing for a broad range of Memphis properties:
- Urban mid-rise and high-rise multifamily buildings
- Suburban garden-style multifamily complexes
- Mixed-use properties with residential and limited commercial space
- Underlying cooperative building loans
- Portfolios of multifamily or single-family rental properties
- Stabilized properties with solid cash flow and rent history
Other Property & Loan Types We Finance in Memphis
As a full-service commercial mortgage broker, we arrange Memphis 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 Memphis Multifamily Loan Quote
No cost, no obligation. Written answers within 48 hours on Memphis 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