Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Pittsburgh, Pennsylvania
Pittsburgh Apartment Loans in 2026
Select Commercial specializes in Pittsburgh 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 Pennsylvania apartment loans; for loans over $6 million, see Pittsburgh multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Pittsburgh
Pittsburgh apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Pennsylvania apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Pittsburgh 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 Pittsburgh 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 4, 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 Pittsburgh Apartment Loan Programs
As a broker, we compare every program to find your best-fit Pittsburgh apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.16% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.14% | Up to 80% | $1M to $7.5M small balance |
| FHA / HUD | 6.16% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.74% | 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 Pittsburgh multifamily loans.
2026 Pittsburgh Apartment Loan Market: A Nationally Low Vacancy Level as Eastern Submarkets Lead Gains
Pittsburgh is on track to end 2026 with vacancy below 4 percent, only the fourth time in the past 25 years. Local entrepreneurship, a strong higher education base and slowing supply continue to support renter demand.
Employment
Having surpassed its pre-2020 headcount, the market's total employment base will expand by another 6,000 roles this year, a rate of change about on par with 2019.
Construction and supply
Development activity will slow for the second consecutive year as total openings hit a seven-year low, with completions concentrated in Oakland-Shadyside and South Pittsburgh.
Vacancy
After dropping a combined 160 basis points over the past two years, the tighter vacancy rate will dip modestly to 3.8 percent in 2026.
Rent trend
Tight operations across property classes will support rent growth for a sixth straight year, with the average effective rate climbing to $1,685 per month by December.
2026 Pittsburgh forecast at a glance:
- Employment expands by 6,000 roles, near the 2019 pace.
- Completions fall to a seven-year low as development slows again.
- Vacancy dips to 3.8 percent, below 4 percent for a rare fourth time in 25 years.
- Average effective rent climbs to $1,685 per month.
Pittsburgh Multifamily Loans (Over $6 Million)
For larger Pittsburgh 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 Pittsburgh 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.
Pittsburgh Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Pittsburgh 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 Pittsburgh
As a full-service commercial mortgage broker, we arrange Pittsburgh financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Pittsburgh Neighborhoods We Serve
Select Commercial provides apartment loans throughout Pittsburgh, Pennsylvania and the surrounding area, including:
- Shadyside
- Squirrel Hill
- Oakland
- Lawrenceville
- Bloomfield
- East Liberty
- Strip District
- South Side
- Mount Washington
- Highland Park
- Point Breeze
- Mexican War Streets
- Friendship
- Regent Square
- Downtown
- Bloomfield
For other cities in the state, see Pennsylvania 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 Pittsburgh Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Pittsburgh 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