Portland Commercial Mortgage Loans
$1,000,000 Minimum

Portland Commercial Mortgage Rates - Rates updated March 7th, 2021

Loan Product Rates (start as low as) LTV
Multifamily Mortgage Rates (Over $6,000,000) 2.94% Up to 80% Get Free Quote
Multifamily Mortgage Rates (Under $6,000,000) 3.37% Up to 80% Get Free Quote
Single Tenant Lease Rates 3.50% Up to 75% Get Free Quote
Business Real Estate Loans 3.70% Up to 90% Get Free Quote
Commercial Mortgage Rates 3.75% Up to 75% Get Free Quote
Portland Commercial Real Estate Portland Commercial Mortgage

Select Commercial is a leading commercial real estate lender. We have excellent commercial mortgage loan products and options available for owners and purchasers of commercial real estate and multifamily buildings throughout the city of Portland. While we lend across the entire continental United States, we are able to give our best rates and loan programs to certain areas that we feel are strong markets. Portland is one of the cities that we consider to be a premium market and we actively look to originate good quality loans here for our clients. We have a diverse array of many available loan products to help qualified Portland borrowers looking to purchase or refinance a commercial property. If you are looking to obtain a multifamily building loan or commercial real estate loan, don't hesitate to contact us. There are many reasons why our customers like doing business with Select Commercial. We have a simplified application process and we do not charge any upfront application or processing fees. We typically offer 24-hour pre-approvals with no-cost and no-obligation. Our long term fixed rates are excellent, and we look to close within 45 days of application.

Portland Commercial Mortgage Benefits

Portland commercial mortgage rates start as low as 2.94% (as of March 7th, 2021)
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily, 75% on commercial (90% with SBA)
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

Recent TRUSTPILOT Reviews

Select Commercial Funding Reviews from TRUSTPILOT

A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"


Recent Closings

Portland Multifamily Loan Information

Portland Economic Trends Portland Economic Trends

Wave of Young Professionals, Healthy Local Economy Maintain Investor Sentiment Despite New Rent Cap

Competition for talent motivates strong migration trends. The Portland apartment sector enters the next decade on solid footing as an influx of new residents call the metro home, many being young professionals drawn by a large corporate presence. A highly skilled workforce encourages tech titans Amazon, Google and Apple to increase their hiring efforts in the metro on top of large contributions to the employment base by Nike, Adidas and Under Armour. In addition to a healthy job outlook and growing economy this year, young workers are enticed by a lower cost of living in contrast to other West Coast metros, bolstering demand for multifamily rental housing. Many of these are choosing to lease an apartment longer as they are not ready to commit to a 30-year mortgage, motivating developers to boost apartment inventory substantially as the market contends with a shortage of housing. More than 9,000 market-rate multifamily units were underway at the onset of 2020, with the greatest focus placed on areas near major employers and transit access including Central and East Portland. Investors looking to purchase multifamily property in the Portland market should definitely look into taking out an apartment loan to finance their acquisition.

No shortage of multifamily investment opportunities following new regulations. Oregon made headlines last year as the first state in the nation to enact statewide rent control, causing some apartment investors to reevaluate their strategies. Despite increased local and statewide regulations, investor sentiment holds strong against a backdrop of robust underlying apartment demand, tight operations across the metro and another year of favorable rent growth. Elevated initial yields also grab the attention of investors as the market average is the highest on the West Coast, falling in the mid-5 percent band. Fewer restrictions and returns that are 50 to 100 basis points above the market average will keep buyers active in Portland’s suburbs this year, including Beaverton, Vancouver and East Portland. Institutional groups have become a major participant in recent years, boosting liquidity in the market for large and modern multifamily complexes positioned toward higher-income renters. Portland is a great market for investors to finance their next apartment purchase with a multifamily loan.

2020 Portland Multifamily Market Forecast

Portland Completions vs. Absorption Portland Completions vs. Absorption

The Portland National Multifamily Index Rank is at 16, down 6 places. Constrained employment growth, a jump in inventory and changes to public policy move Portland down in the NMI.

Employment in Portland is up 1.2%. Employers add 15,100 workers to company payrolls in 2020, a modest slowdown from the 1.7 percent pace posted last year.

Construction in Portland is expected to exceed 5,600 apartment units. A wave of rentals are scheduled for delivery this year, accounting for the strongest increase to supply in more than two decades and outpacing the 2019 total by nearly 2,000 units.

Vacancy in Portland is down 10 bps. A robust influx of young professionals ensures stable demand for new apartments, compressing the vacancy rate to 3.9 percent after falling 40 basis points last year.

Rent in Portland is up 4.1%. After rising 4.5 percent in 2019, rent growth holds strong this year, bringing the average effective rent up to $1,480 per month.

Investment opportunities in Portland remain strong for those looking to finance their next purchase with an apartment loan. Major commercial investments in Vancouver are rapidly transforming the area, attracting new tenants and investors to a submarket with minimal regulations. We highly recommend any investors looking to buy in the Portland market to reach out to us regarding a multifamily loan.

Data provided by Marcus & Millichap.

Commercial Mortgage Rate Trends in 2020

Portland Vacancy and Rents Portland Vacancy and Rents

At the beginning of 2020 the overall market outlook did not suggest any crucial factors that would negatively impact the commercial mortgage market. Commercial mortgage lenders and investors expected a very profitable 2020. Almost 65 percent of the top commercial real estate companies believed that commercial mortgage loan originations would go up this year and over 15 percent anticipated an overall rise of over 5 percent. Data released at the beginning of 2020 indicated that commercial mortgage lenders were expected to close over $680 billion of commercial mortgage loans this year. Experts were of the belief that commercial mortgage lenders would remain bullish about making loans. In addition, as commercial mortgages rates were expected to go down most industry leaders were convinced that borrowers in 2020 will have a strong desire to take out commercial mortgage loans. However, with the recent outbreak of the Covid-19 pandemic, the US and global economy has been incredibly unstable. The stock market seems to be bottoming out and commercial mortgage rates have been hit very hard. While the Fed has dropped short term interest rates, long term commercial mortgage rates have actually been rising. Huge cities like New York are shutting down. In this economic climate, many investors are scared to purchase commercial real estate and to take out commercial mortgages. Additionally, the oil industry has been hit hard. Not only are people traveling less due to coronavirus, China and Russia are currently involved in a price war which is driving the price of oil way down. Many people are optimistic that as spring and summer roll in and public health officials learns how to handle this pandemic, the economy should regain its strength.

What Happened with Commercial Mortgage Rates in 2019

Portland Sales Trends Portland Sales Trends

As we review the 2019 year, the commercial real estate market continued to flourish as the longest economic recovery in American history continued. Due to both GDP growth and a steady decline in the unemployment rate, 2019 saw the stock market make huge gains. Many investors thought that commercial mortgage rates would go up last year. However, in actuality commercial mortgage rates actually went down three times. These interest rates helped to spur investors to put more money into commercial real estate. With regards to commercial mortgage loan origination, the 2019 fiscal year far exceeded expectations due to solid fundamentals, low interest rates and higher demand for commercial mortgages. While 2018 commercial mortgage volume totaled about $339 billion, an increase of 18.9% from 2017, the 2019 numbers total about $369 billion. On a larger scale, the 2019 economy prospered overall. Over the course of the year about 2.1 million jobs were added to the market. In addition, the unemployment rate decreased about 50 basis points last year, matching the lowest unemployment rate in fifty years. At the beginning of 2019 many investors were expecting a recession. However, the economy improved as job growth rose and the unemployment rate decreased. This economic improvement had an immensely positive impact on the commercial real estate market as more investors rushed to put their money into commercial properties.

Portland Commercial Mortgage Loan Options

Our staff is professional and knowledgeable, and we look forward to working with you on your next commercial mortgage transaction. We arrange financing in the city of Portland for the following:


  • Multifamily Building Loans – we actively lend on garden apartments, high-rise multifamily buildings, student housing complexes, underlying cooperatives, and all other types of residential dwellings. We consider loan requests up to 80% LTV. We offer loans with and without recourse (personal guarantees) and with and without prepayment penalties. We offer fixed rate loans with terms from 3 to 30 years.
  • Office Building Loans – we lend on all types of office properties, including multi-tenant and single tenant buildings in all locations. We lend on both owner occupied and investor properties. We typically lend up to 75% LTV on investor properties and up to 90% on owner occupied properties. Most loans are written for either 5, 7, or 10 years at a fixed rate with a 25-year amortization.
  • Retail Building Loans – we gladly consider requests for commercial mortgage loans on shopping centers, retail strip centers, and individual retail stores. We are a little bit more conservative on retail loans these days based on the current climate for retailers and will consider LTV ratios of 65%-75% depending on the deal. We actively lend on NNN single tenant retail locations such as Starbuck’s, CVS, Walgreens, Dollar General, and other national credit rated tenants.
  • Industrial Property Loans – we love to lend on warehouses, distribution centers, manufacturing facilities and other industrial properties. Often, these properties are owner occupied by the owner’s business. We also lend on multi-tenant industrial properties as well. We look for properties in good locations with access to population centers and transportation.
  • Single/Special Use Loans – we have a special lending division that understands small business lending secured by owner occupied businesses such as motels, gas stations, restaurants, car washes, retail stores, and other specialty properties. Many banks have a hard time with this type of lending as they often do not understand the underlying businesses.
  • Investment Property Loans – any and all income producing property will be considered. We are cash flow driven lenders and look for properties that generate positive cash flow for their owners. We will consider portfolios of single family residences under this group.
  • Bridge Loans – many borrowers do not qualify for regular institutional financing due to various short-term obstacles which need to be resolved before they can qualify for bank type financing. These borrowers often require short term loans, or bridge loans, to overcome these short-term problems.
Our company has multiple capital sources for these loans, including: national banks, regional and local banks, Fannie Mae, Freddie Mac, FHA, HUD, insurance companies, Wall Street conduit lenders (CMBS deals), credit unions and private lenders/hedge funds. Whether you are purchasing or refinancing, we have the right solutions available. We will entertain loan requests of all sizes, beginning at $1,000,000. Get started with a Free Commercial Mortgage Loan Quote.

Portland Commercial Mortgage Loans

Select Commercial provides commercial mortgage loans and multifamily financing throughout Portland and the state of Oregon including, but not limited to, the areas below.


Alameda • Hazelwood • Parkrose Heights • Alameda • Hillsdale • Pearl District • Arbor Lodge • Hillside • Piedmont • Ardenwald-JohnsonCreek • Hollywood • Pleasant Valley • Argay • Homestead • Portland • Arlington Heights • Hosford-Abernethy • Portland Downtown • Arnold Creek • Humboldt • Portsmouth • Ashcreek • Irvington • Powellhurst-Gilbert • Beaumont-Wilshire • Irvington • Reed • Boise • Kenton • Richmond • Brentwood-Darlington • Kerns • Rose City Park • Bridgeton • King • Roseway • Bridlemile • King • Russell • Brooklyn • Laurelhurst • Sabin • Buckman • Laurelhurst • Sabin • Cathedral Park • Lents • Sellwood-Moreland • Centennial • Linnton • South Burlingame • Collins View • Madison South • South Portland • Concordia • Maplewood • South Tabor • Creston-Kenilworth • Markham • Southwest Hills • Crestwood • Marshall Park • St.Johns • Cully • MillPark • Sullivans Gulch • East Columbia • Montavilla • Sumner • Eastmoreland • Mt.Scott-Arleta • Sunderland • Eliot • Mt. Tabor • Sunnyside • Far Southwest • Multnomah • Sylvan-Highlands • Forest Park • North Tabor • University Park • Foster-Powell • Northwest District • Vernon • Glenfair • Northwest Heights • West Portland Park • Goose Hollow • Northwest Industrial • Wilkes • Grant Park • OldTown Chinatown • Woodland Park • Hayden Island • Overlook • Woodlawn • Hayhurst • Parkrose • Woodstock