Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Reno, Nevada
Reno Apartment Loans in 2026
Select Commercial specializes in Reno 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 Nevada apartment loans; for loans over $6 million, see Reno multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Reno
Reno apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Nevada apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Reno 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 Reno 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 Reno Apartment Loan Programs
As a broker, we compare every program to find your best-fit Reno 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 Reno multifamily loans.
2026 Reno Apartment Loan Market: One of the Nation's Least Vacant Apartment Markets
Strong net in-migration, particularly from households priced out of nearby states, continues to drive Reno's vacancy toward near-record lows. A sharp decline in development is creating space for recently delivered inventory to be absorbed.
Employment
Following a loss of 3,000 jobs in 2025, the labor market will see modest growth in 2026, adding 500 net new positions by year-end.
Construction and supply
Completions fall below 400 units, marking the lowest annual total in over a decade, less than one-fifth of the 2025 delivery level.
Vacancy
Limited apartment deliveries will push many renters to existing properties, resulting in a vacancy rate of just 2.8 percent by December, tied for the lowest among major U.S. markets.
Rent trend
Effective rents continue to climb, reaching a record-high average of $1,750 per month, up 2.3 percent.
2026 Reno forecast at a glance:
- Employment returns to growth, adding 500 net new positions.
- Completions fall below 400 units, the lowest total in over a decade.
- Vacancy drops to 2.8 percent, tied for the lowest among major markets.
- Average effective rent reaches a record $1,750 per month, up 2.3 percent.
Reno Multifamily Loans (Over $6 Million)
For larger Reno 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 Reno 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.
Reno Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Reno 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 Reno
As a full-service commercial mortgage broker, we arrange Reno financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Reno Neighborhoods We Serve
Select Commercial provides apartment loans throughout Reno, Nevada and the surrounding area, including:
- Midtown
- Downtown Reno
- Old Southwest
- Northwest Reno
- South Reno
- Sparks
- Somersett
- Damonte Ranch
- Wingfield Springs
- Caughlin Ranch
- University District
- Wells Avenue
- Hidden Valley
- Double Diamond
- ArrowCreek
- Verdi
For other cities in the state, see Nevada 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 Reno Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Reno 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