Plano, Texas
Plano Apartment Loans in 2026
Lenders sizing Plano apartment loans look past the rent roll to the city's employers, and JPMorgan Chase alone counts 11,133 people at its regional office here, according to Plano Economic Development's second-quarter 2026 list. The minimum is $1,500,000 and loans reach up to 80% LTV. Once banks, agency lenders, HUD, conduit shops and bridge funds have each quoted, a well-run stabilized building may come in at 6.12%. Bigger communities belong with Texas multifamily loans and buildings outside Plano with Texas apartment loans, while our program-by-program commercial mortgage rates list current starting points. You receive written lender terms and pay no application fee.
Get a Free QuotePlano's Late-2026 Market: Business-Services Hiring and Softer Rents
BLS counts Plano's payrolls in the Dallas-Plano-Irving metropolitan division, which recorded 3,134,400 nonfarm payroll jobs for September 2026 in its preliminary, unadjusted figures, up 1.0% on the year; the year-over-year gain was 0.6% in both April and May and 1.4% in June. Professional and business services led at 3.6%, reaching 650,700 jobs, while information shed 4.3% and financial activities slipped 0.1%.
Plano's population reached an estimated 293,028 by July 1, 2025 (Census Bureau), and RentCafe counts 48,422 renter households, 43% of the total. A HUD analysis of the division dated July 1, 2024 found 12.2% apartment vacancy in its Collin and Denton County submarket during 2024's second quarter, up from 8.7% a year earlier, with 24,250 rental units under construction.
Plano Rents Trail 2025 but Stay Above the Metro
Plano's median rent stood at $1,618 when Apartment List published its October 2026 report, after a September dip of 0.7% and a 2.5% drop over twelve months, near Texas's -2.1% and below the national -0.4%. That median runs 14.3% above the Dallas metro's $1,415; two-bedrooms sit at $1,694 and one-bedrooms at $1,339. At RentCafe, which draws on every local building of 50-plus units, average rent stood at $1,695 in its September 30, 2026 update, off 1.27% from $1,717.
Plano Economic Development's second-quarter 2026 list is led by JPMorgan Chase with 11,133 employees, followed by Bank of America's mortgage back-office center (7,266), Capital One (6,218), Toyota Motor North America's headquarters (5,143), PepsiCo North America (3,759) and Ericsson (3,346). Those payrolls are the demand case behind a Plano apartment loan; the supply case is what a 2025 state law now lets builders put on commercial land.
Plano Apartment Loan Rates
Rates updated as of November 8, 2026
On a stabilized Plano building, read the table as an opening bid: the Collin County tax bill and, for complexes five or more years old, the city's posted inspection grades can move the final 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 Plano 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.
Legacy West, Heritage Creekside and Other Plano Neighborhoods
By RentCafe's September 30, 2026 count, average rent runs $2,466 in Legacy West, $1,893 in Dallas North Estates, $1,598 in Downtown Plano and $1,500 in Old Shepard Place. Plano Economic Development puts the Legacy business park at 2,665 acres, and the City reported in January 2025 that Raising Cane's would expand its regional headquarters into 400,000 square feet at 5320 Legacy Drive. In east Plano, Heritage Creekside's developers traded more than 1.2 million square feet of planned office and retail for 700 more apartments, Community Impact reported in May 2026. Of the 264 HOAs and other groups on the City's registered-neighborhoods map, 19 are multifamily communities.
Our lending covers these neighborhoods; nearby Richardson, Frisco and McKinney are separate cities:
- Legacy West
- Legacy Town Center
- Willow Bend
- Deerfield
- Preston Meadow
- Dallas North Estates
- Hunters Glen
- Russell Creek
- Ridgeview Ranch
- Kings Ridge
- Steeplechase
- Timber Brook
- Prairie Creek Estates
- Los Rios
- Old Shepard Place
- Heritage Creekside
- Douglass Community
- Downtown Plano
Program Terms for a Plano Apartment Loan
A complex past its fifth year falls under city registration, while a newer one may still be leasing up; the two seldom suit the same lender. Opening terms by program:
| 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 is the usual floor, tested here after a 2025 tax stack of about $1.71 per $100 of value inside Plano ISD (city, school district, county and college combined). Larger requests move over to Texas multifamily loans.
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.
Plano Registration, Collin County Taxes, SB 840 and Hail History
Registered and graded. Plano's Multi-family Rental Registration and Inspection Program enforces building and maintenance codes in apartment communities. Under the ordinance as CandysDirt described it in December 2021, a multifamily property five or more years old registers with the property standards director (some exemptions apply), and a city map posts A-to-F grades for each complex's exterior and interior. A city fire checklist adds that all multifamily complexes are inspected annually.
Four levies inside Plano ISD. Collin Central Appraisal District sets each year's values on January 1. In 2025 a building inside Plano ISD paid 43.76 cents per $100 to the city (up from 41.76), 103.955 to the school district, 14.9343 to Collin County and 8.122 to Collin College. For 2026 the city proposed no change, Plano ISD proposed 103.275, the college held at 8.122, and county commissioners voted 4-1 on September 14 to raise their rate, presented at 15.1414 cents. County voters decide $817.5 million in bonds on November 3, 2026.
Apartments by right on commercial land. Since September 1, 2025, Senate Bill 840 has required cities above 150,000 people in counties over 300,000 to allow multifamily or mixed-use residential use wherever office, commercial, retail, warehouse or mixed use is allowed, without density caps under 36 units an acre, height limits under 45 feet or setbacks over 25 feet, except near heavy industry, airports and military bases. Plano's 2021 comprehensive plan steers multifamily toward housing or economic development needs or high-rises of 10 or more stories; the city says 2025 state law changes lifted undeveloped land open to residential use from under 1% of its area to 3.9%.
Rail service stays. DART's 26-mile Silver Line, running from DFW Airport to Shiloh Road in Plano, opened in October 2025 with a Red and Orange line transfer at 12th Street Station. Plano called a May 2026 vote on leaving DART but recalled it in February 2026 after DART agreed to refund some tax revenue and restructure its board.
Hail on the record. On March 23, 2016, hail of 1.5 to 2 inches fell across parts of Denton, Collin and Dallas counties; CoreLogic estimated $35.8 million in losses from the Plano event, and NBC DFW reported damaged cars at a local apartment complex. Where FEMA maps a building into its high-risk A or V zones, any federally supervised lender or government-backed mortgage brings mandatory flood insurance; NFIP will insure at most $500,000 of a five-plus-family building.
State rules, briefly. Under Local Government Code 214.902, rent caps need both a disaster-linked housing emergency found by the city council and the governor's consent, and new real estate transfer taxes have been constitutionally barred since 2016.
Financing Options in Plano
Which of these describes your Plano property?
Statewide coverage, including Lubbock and El Paso, starts at Texas apartment loans.
Plano Refinancing With New Supply Allowed on Commercial Land
Plano apartment loans refinanced this winter are underwritten against the 2026 tax bill and actual collections. Apartment List's October 2026 median sits 2.5% under last year's, so lenders will lean on trailing receipts, and a registered property should bring its latest city grades.
Supply is the second question. By May 2026, three SB 840 projects totaling 827 units had been filed with the city and Heritage Creekside had shifted to 700 more apartments, so expect questions about what is planned nearby. Buildings appraised at up to an inflation-indexed $5 million also lose Tax Code 23.231's 20% cap after December 31, 2026.
Plano Apartment Building Loans for Garden, Townhome and Mid-Rise Rentals
Census survey data for 2024 count 120,096 housing units in the city, and the city's comprehensive plan notes that most residential building happened between the 1960s and the 2000s. Properties we finance include:
- Garden-style apartment complexes
- Townhome-style rental communities
- Apartments in mixed-use developments such as Heritage Creekside
- Properties near the 12th Street and Shiloh Road rail stations
- Income-restricted and tax-credit housing
- New multifamily projects permitted under SB 840
Plano Multifamily Debt: Agency Terms, HUD Amortization, Conduit Options
Past the small-loan programs, Freddie Mac and Fannie Mae usually get the first look at a Plano community; both will finance up to 80% LTV on loans running up to 30 years, with the borrower liable only for standard carve-outs. HUD runs longest: a Risk Share loan insured by FHA can fully amortize over a schedule as long as 40 years, per Fannie Mae's term sheet. Conduit (CMBS) loans close without recourse, and bank loans are flexible but often recourse.
Two local items weigh heavily on a large asset here: the Collin County tax line and any SB 840 project planned nearby. See Texas multifamily loans, then compare Fannie Mae's multifamily options with Freddie Mac's.
Texas Multifamily Loan Rates
For larger balances, over $6 million
Plano Property Loans for Offices, Hotels and Retail Centers
We arrange financing on these other Plano property types as well:
Nearby Apartment Loan Markets
Investors comparing Plano with Dallas, Fort Worth or Houston can start with these pages:
Houston · Dallas · Austin · San Antonio · El Paso · Lubbock · Arlington · Fort Worth · All Texas · Other U.S. cities
Recent Apartment Loan Closings
One closing below is a Texas property; like the rest, it was bid out to competing lenders before terms went to the borrower.
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 Plano Apartment Loan Quote
Underwriters on a Plano building start with the rent roll, the trailing year's profit and loss, the latest Collin Central Appraisal District value notice and the tax bill it produced, the city registration and inspection grades, insurance declarations listing the wind and hail deductible, and a flood zone determination. Send those, and written terms follow.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up