Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
New Orleans, Louisiana
New Orleans Apartment Loans in 2026
Select Commercial specializes in New Orleans apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 6.16% and up to 80% LTV. For properties elsewhere in the state, see our Louisiana apartment loans; for loans over $6 million, see New Orleans multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in New Orleans
New Orleans apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Louisiana apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
New Orleans Apartment Loan Rates (Under $6 Million)
| Loan Type | Rate* | Max LTV |
|---|---|---|
| Apartment 5 Year Fixed | 6.16% | Up to 80% |
| Apartment 7 Year Fixed | 6.14% | Up to 80% |
| Apartment 10 Year Fixed | 6.16% | Up to 80% |
- Rates as low as 6.16% on New Orleans apartment loans
- Up to 80% LTV on apartment financing
- Terms and amortizations up to 30 years
- Purchase and refinance, including cash-out
- No upfront application or processing fees
- 48-hour written pre-approvals, no cost or obligation
Rates last updated August 10, 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 New Orleans Apartment Loan Programs
As a broker, we compare every program to find your best-fit New Orleans apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.16%-6.95% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.15% | Up to 80% | $1M to $7.5M small balance |
| FHA / HUD | 6.12% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.25%-6.50% | Up to 75% | Flexible, value-add |
| Bridge | 9.00% | Up to 80% LTC | Reposition, lease-up |
Most apartment lenders look for a debt-service-coverage ratio (DSCR) of at least 1.25x. For properties over $6 million, see our New Orleans multifamily loans.
2026 New Orleans Apartment Loan Market: Renter friendly after a supply surge
New Orleans has shifted toward renters in 2026, as a wave of new deliveries pushed vacancy above the national average and softened rents.
Employment
The metro supports about 472,000 nonfarm jobs, down slightly from a year earlier as employment growth has stalled.
Construction and supply
Deliveries peaked at a multi decade high in 2024 and have since tapered, but the market is still absorbing that excess supply.
Vacancy
Vacancy has risen to about 10.6 percent, above the national average.
Rent trend
Average apartment rent is about $1,417 per month, with pricing soft and generally below national medians.
2026 New Orleans forecast at a glance:
- Market favors renters in 2026
- Elevated vacancy near 10 percent
- Rents stay soft near term
- Excess supply gradually absorbed
New Orleans Multifamily Loans (Over $6 Million)
For larger New Orleans apartment properties, we arrange multifamily loans over $6 million through Fannie Mae DUS, Freddie Mac, FHA/HUD and CMBS. These institutional programs offer non-recourse financing, up to 80% LTV and fixed terms up to 30 years, with even longer fully amortizing options through HUD.
See our New Orleans multifamily loans page for over-$6 million financing, or explore Fannie Mae and Freddie Mac agency programs.
Recent Apartment Loan Closings
A sample of apartment and multifamily loans we have arranged for investors nationwide.
New Orleans Apartment Loan Types We Serve
Whether you are purchasing or refinancing a New Orleans apartment building, we arrange financing for:
- Large urban high-rise apartment buildings
- Suburban garden apartment complexes
- Small apartment buildings with 5+ units
- Underlying cooperative apartment loans
- Portfolios of small apartment and single-family rental properties
- Other multifamily and mixed-use properties
We consider apartment loan requests of all sizes, beginning at $1,500,000.
Other Property & Loan Types We Finance in New Orleans
As a full-service commercial mortgage broker, we arrange New Orleans financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
New Orleans Neighborhoods We Serve
Select Commercial provides apartment loans throughout New Orleans, Louisiana and the surrounding area, including:
- 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
- Faubourg St. John
For other cities in the state, see Louisiana apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
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
No cost, no obligation. Written answers within 48 hours on New Orleans apartment loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up