Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Texas · Over $6 Million
Texas Multifamily Loans
Select Commercial arranges Texas multifamily loans, with rates as low as 5.79%, 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 Texas apartment loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Texas
Texas apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Texas apartment loans and Texas commercial mortgages.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Texas Multifamily Loan Rates
Rates updated as of August 20, 2026
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.08% | Up to 80% |
| 7 Year Fixed | 6.19% | Up to 80% |
| 10 Year Fixed | 6.28% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 5.68% | Up to 75% |
| 7 Year Fixed | 5.79% | Up to 75% |
| 10 Year Fixed | 5.88% | Up to 75% |
- 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 August 20, 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.
Texas Apartment Buildings Under $6 Million
Not every Texas apartment property is over $6 million, and we finance smaller buildings too. For 5+ unit Texas apartment properties from $1,500,000 to $6 million, see our Texas apartment loans page for Fannie Mae Small Loan, Freddie Mac SBL, bank and credit union options.
Compare Texas Large-Balance Programs
As a broker we place your large-balance Texas 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 | 5.68% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac | 5.79% | Up to 80% | Non-recourse large-balance |
| FHA / HUD | 6.12% | Up to 85% | Highest leverage, 35-yr amortization |
| CMBS / conduit | 6.66% | 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 Texas apartment loans.
2026 Texas Multifamily Investment and Lending Outlook
Large-balance Texas 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 Texas 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 Texas apartment loans page.
2026 Texas Multifamily Metro Snapshots
A look at the Texas metros we most actively finance, with 2026 market indicators and the local supply and demand picture:
- Employment: about 25,000 new jobs
- Construction: about 21,000 units, inventory growth of 2.1%
- Vacancy: down to 5.9% by year-end
- Employment: hiring slows, with about 8,000 jobs added metrowide
- Construction: deliveries the smallest in more than a decade, inventory growth still top 10 nationally
- Vacancy: net absorption outpaces completions, pushing vacancy down to about 6.1%
- Employment: about 25,000 jobs added across the Dallas-Fort Worth metroplex
- Construction: inventory growth moderates to about 2.1%, deliveries less than half of 2025
- Vacancy: shifts down to about 5.9% by year-end, roughly 30 bps below the long-term average
- New supply stays limited
- Vacancy holds in a low range
- Rent growth remains modest near 1 to 2 percent
- Employment: about 25,000 new jobs
- Construction: about 21,000 units, inventory growth of 2.1%
- Vacancy: down to 5.9% by year-end
- Employment: about 8,000 new jobs, roughly +0.2%
- Construction: about 9,000 units, urban core pipeline contracting sharply
- Vacancy: near 6.3%, up about 20 bps but below the long-term average
- Employment Growth: About 15,000 jobs added in 2026 (approximately +1.2%).
- Construction Trends: About 3,500 units projected for delivery, with the pipeline continuing to contract after the 2024 peak.
- Vacancy: Vacancy projected near 6.8%, improving by roughly 20 bps.
Texas 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 Texas
As a full-service commercial mortgage broker, we arrange Texas 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 Texas Multifamily Loan Quote
No cost, no obligation. Written answers within 48 hours on Texas 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