New Orleans, Louisiana
New Orleans Apartment Loans in 2026
Converted Uptown mansions, Warehouse District lofts, new towers downtown: New Orleans apartment loans cover a wide range of housing. We lend from $1,500,000 with loan-to-value of up to 80%, stabilized buildings can see rates as low as 6.12%, and before recommending anyone we collect offers from banks, agency programs and HUD. Bigger properties are covered under multifamily loans in New Orleans, the rest of the state under Louisiana apartment loans, and program-by-program pricing at our commercial mortgage rates page.
Get a Free QuoteNew Orleans Apartment Loans in a Steady Rental Market
Rents in New Orleans have held up better than the national figures over the past year, while the job base has barely grown. The metro had about 470,000 nonfarm jobs in August 2026, according to preliminary BLS data, up just 0.3% from a year earlier.
The Rent Picture in Fall 2026
Rents have held steady this fall. At $1,229, the New Orleans median rent in Apartment List's October 2026 report is up 1.6% on the year and about 11.5% below the national median; a typical one-bedroom rents for $1,033 and a two-bedroom for $1,279. RentCafe pegged average rent at $1,391 as of September 30, 2026, a 0.49% gain over the year, and finds that 49% of New Orleans households rent.
Tourism keeps the service economy busy: New Orleans & Company reports 19.46 million visitors in 2025 who spent $10.8 billion, supporting more than 85,000 jobs. For a lender, the question on any New Orleans apartment loan is less about demand than about expenses, especially insurance.
New Orleans Apartment Loan Rates
Rates updated as of November 8, 2026
These best-case rates assume a stabilized property with a complete insurance package. In this city the flood zone and the wind policy are reviewed before anything else, so have them ready when you ask for a quote.
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.52% | Up to 80% |
| 7 Year Fixed | 6.55% | Up to 80% |
| 10 Year Fixed | 6.59% | Up to 80% |
- Cash-out refinances are acceptable
- Interest-only and non-recourse options
- Minimum 1.25x debt-service-coverage ratio
See New Orleans Multifamily Rates Over $6 Million, Starting at 6.12%
Rates last updated November 8, 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.
New Orleans Neighborhoods and Historic Districts
Downtown has grown into a residential neighborhood in its own right. The Downtown Development District counts 6,370 apartment and condo units, more than 1,000 of them delivered since 2019, and about 126,000 people downtown on a given day in 2025. Much of the rest of the city sits in local historic districts overseen by the Historic District Landmarks Commissions, which regulate districts outside the French Quarter, including the Warehouse District, Lower Garden District, Mid-City, Uptown, Bywater, Faubourg Marigny and Algiers Point. Exterior work in those districts can need approval, though in Uptown and Mid-City the commission reviews only demolition, and a lender will want to see any approval before funding a renovation.
New Orleans neighborhoods we lend in include:
- French Quarter
- Garden District
- Uptown
- Marigny
- Bywater
- Treme
- Mid-City
- Lakeview
- Algiers Point
- Gentilly
- Irish Channel
- Carrollton
- Bayou St. John
- Central Business District
- Broadmoor
- Lower Garden District
- Ninth Ward
How Lenders Price New Orleans Apartment Buildings
Each major program prices New Orleans buildings a little differently, and they start here:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.52% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.60% | Up to 80% | $2M to $10M small balance |
| FHA / HUD | 6.74% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.50% | Up to 75% | Flexible, value-add |
| Bridge | 9.00% | Up to 80% LTC | Reposition, lease-up |
Coverage of 1.25x or better is measured after insurance, the line that most often decides proceeds here. Bigger loans are covered on our New Orleans multifamily loans page.
Rates last updated November 8, 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.
Flood Protection, Insurance and Local Rules in New Orleans
The levee system and flood maps. After 2005 the Army Corps of Engineers built the $14.45 billion Hurricane and Storm Damage Risk Reduction System, 350 miles of levees and floodwalls designed against a storm surge with a 1% chance of occurring in any year. FEMA accredited the system in 2014, and the flood maps show it reducing risk in Orleans, Jefferson, St. Bernard, St. Charles and Plaquemines parishes. Even so, parts of the city remain in FEMA's high-risk AE and VE zones, and because a federal flood policy on an apartment building covers no more than $500,000 of the structure, lenders often require excess flood insurance on bigger properties.
Insurance costs have leveled off. According to GNO, Inc., Louisiana homeowners' rate increases have been essentially flat so far in 2026 after rising 4.6% in 2025 and 6.6% in 2024, 21 new carriers have been licensed in the state over three years, and Ben Albright of the Independent Insurance Agents of Louisiana puts commercial real estate rates down about 30% on average. That is welcome news for owners whose loans were sized when premiums peaked.
Registration for every rental. The City's Healthy Homes program requires every rental property to be registered, with owners self-certifying a reasonably recent inspection. Parcels with four or more units were due in 2024 and smaller ones in June 2025, and late registrations now carry a fee. Lenders may ask for the Healthy Homes certificate, which is searchable by address on the City's OneStop site.
Assessments and recording. Louisiana reappraises property at least every four years, and Orleans Parish's most recent quadrennial revaluation took effect for the 2024 tax year. The City's documentary transaction tax under City Code Sec. 150-391 is $325 per instrument of up to 25 pages, plus $100 per extra page, for property other than a single-family home or double. A sale and a same-day mortgage count as one transaction. Deeds and mortgages are recorded with the Clerk of Civil District Court.
Rent rules. La. R.S. 9:3258 says a lessor's rights may not be "altered, abridged or diminished except by state law," which is generally read as barring local rent control. Short-term rentals are tightly limited, with one non-commercial permit or bed and breakfast allowed per square, so lenders underwrite apartment buildings on long-term leases.
Financing Options in New Orleans
Most New Orleans properties fit one of three financing paths:
Baton Rouge, Lafayette and Shreveport are on our Louisiana apartment loans page.
Refinancing a New Orleans Apartment Complex as Insurance Eases
If your current loan was sized when insurance premiums were at their worst, a refinance may look better now than it did two years ago. With premium increases flattening and commercial rates reported lower, a fresh look at the expense line can support more proceeds. We start with your current policy, flood zone and premium history, then build the loan amount from there.
Historic buildings bring a second set of questions: deferred maintenance, wood and masonry repairs, and any work that needs Historic District Landmarks Commission approval. Lenders will often hold a repair reserve rather than walk away, as long as the scope and the approvals are documented.
New Orleans Apartment Building Loans for Historic and New Buildings
Local housing stock is old and distinctive, and much of it was built long before modern apartment buildings. Typical New Orleans requests:
- Historic buildings converted to apartments
- Warehouse District and downtown loft conversions
- Newer mid-rise and high-rise properties in the CBD
- Garden-style complexes in New Orleans East and on the West Bank
- Affordable and income-restricted housing
- Magazine Street buildings with shops below
Insuring and Financing Larger New Orleans Properties
Stabilized larger properties can choose among Fannie Mae, Freddie Mac, HUD and CMBS lenders, with non-recourse options, loan-to-value near 80% and fixed terms that can run 30 years. What separates them here is insurance: each sets its own requirements for flood and wind coverage and deductibles, so we compare those rules against your current policy before choosing where to apply.
The New Orleans multifamily loans page goes deeper on the large-balance programs, and the Fannie Mae and Freddie Mac program pages describe each agency.
New Orleans Multifamily Loan Rates
For larger balances, over $6 million
New Orleans Commercial Property Loans
We arrange loans for most other commercial property types in the city as well:
Nearby Apartment Loan Markets
Beyond New Orleans, start with the state or national pages:
Recent Apartment Loan Closings
Each loan below was priced by several lenders before it closed, which is how a New Orleans request is handled too.
What Our Clients Say
“I am a veterinarian who purchased an existing practice. I was surprised to find a company that offered 100% financing at a good rate, with great terms and rates for medical office financing.”
Carol K. · Chicago, IL“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 New Orleans Apartment Loan Quote
Email your rent roll, financials and insurance declarations, flood policy included, and we will tell you in writing what New Orleans lenders are likely to offer.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up