San Bernardino, California
San Bernardino Apartment Loans in 2026
At least half of San Bernardino's housing stock is 50 years old or older, so every San Bernardino apartment loan we arrange opens with a close look at insurance, condition and the rent roll. Loans on five-plus-unit properties in the county seat begin at $1,500,000, reach up to 80% LTV and price from 6.12% for the strongest stabilized files. Before we recommend anyone, your file goes to banks, Fannie and Freddie lenders, HUD lenders, conduit desks and bridge funds. Larger assets are covered under California multifamily loans, other cities under California apartment loans, and live figures by program in our current commercial mortgage rates table.
Get a Free QuoteMetro Payrolls Behind San Bernardino Apartment Demand
In BLS data for Riverside-San Bernardino-Ontario, the metro that carries the city's name, payrolls reached 1,714,900 in September 2026, a preliminary count 0.6% above a year earlier (not seasonally adjusted). Education and health services led with a 5.4% gain to 362,300 positions, while the largest sector, trade, transportation and utilities (452,600), added 1.2%. Construction (down 3.6%) and the professional and business services sector (down 3.7%) shrank. August unemployment was a preliminary 5.9%.
Pay trails the nation: the metro's average weekly wage for January through March 2026 was $1,213, against $1,654 nationally.
What San Bernardino Tenants Pay, and Where They Work
RentCafe's average, drawn from properties with at least 50 apartments, was $1,894 on October 1, 2026, 3.46% higher than a year before. One-bedrooms averaged $1,592, two-bedrooms $1,955 and three-bedrooms $2,401. The firm counts 32,107 renter households, half the city's total, and the Census Bureau's 2020-2024 median gross rent was $1,508.
The state EDD's 2024 roster of major San Bernardino County employers gives a San Bernardino location for an Amazon fulfillment center, the Burlington distribution center, Cal State San Bernardino, Dignity Health's Community Hospital of San Bernardino and St. Bernardine Medical Center, and the county sheriff. San Bernardino International Airport, the former Norton Air Force Base, has Breeze Airways nonstops to San Francisco and Provo and markets a 2,000-acre commercial business park. A San Bernardino apartment loan backed by tenants from those employers rests on more than one industry.
San Bernardino Apartment Loan Rates
Rates updated as of November 3, 2026
The starting rates below assume a stabilized building with insurance bound, so get the actual premium into the numbers before comparing quotes.
| 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 San Bernardino Multifamily Rates Over $6 Million, Starting at 6.12%
Rates last updated November 3, 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.
San Bernardino Neighborhoods Inside the City Limits
The General Plan gives Verdemont Heights its own area plan and the University District a specific plan, and the City's 2016 hazard plan places Arrowhead Springs, the northernmost neighborhood, inside the San Bernardino National Forest. Downtown, crews began tearing down the 43-acre Carousel Mall, opened in 1972 as the Central City Mall, in April 2023. Arrowhead Grove, the rebuilding of the 1943 Waterman Gardens public housing site, has added 283 affordable and 36 market-rate homes across three phases, with 92 more affordable homes due in late 2027. RentCafe's October 2026 neighborhood averages include $2,706 in Verdemont, $2,051 in the University area, $1,628 in Del Rosa and $1,375 in Wildwood Park.
Neighboring Muscoy is unincorporated county land, not part of the city, though we finance there too. City neighborhoods we serve include:
- Downtown
- University District
- Verdemont
- Del Rosa
- Shandin Hills
- Perris Hill
- Arrowhead Springs
- Northpark
- Wildwood Park
- Kendall Hills
- Delmann Heights
- South Pointe
- Ridgeline
- Shirrells
- Golden Valley
- Meadowbrook
Program Choices for San Bernardino Apartment Owners
A 1970s garden complex and a building finished last year tend to draw different lenders, so we price several programs at once. Opening terms:
| 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 |
Lenders generally want at least 1.25x coverage; on a San Bernardino purchase we test it only after the post-sale tax bill and a live insurance quote are in the expenses. Larger balances belong on California multifamily loans.
Rates last updated November 3, 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.
Rent Caps, Inspections, Taxes and Hazards in San Bernardino
A statewide cap on increases. AB 1482, now Civil Code Section 1947.12, holds rent growth to regional inflation plus five percentage points over any 12 months, never above 10%, using the BLS consumer price index for the property's metro area. Buildings less than 15 years past their certificate of occupancy are exempt. After a tenant's first 12 months, Section 1946.2 requires just cause to end the tenancy, and both sections sunset on January 1, 2030.
Inspections written for small rentals. Code Enforcement describes the Single-Family Rental Property Inspection Program, adopted by the City Council on April 7, 2008, as covering single-family homes, duplexes and triplexes, with a focus on exteriors. The City's pages are not consistent on fees, inspection cycles and which rentals are included, so confirm current requirements with Code Enforcement when a portfolio mixes small rentals with larger buildings.
Property and transfer taxes. The County Assessor's summary of Proposition 13: the general levy is capped at 1% of assessed value, voter-approved bond debt is added on top and differs by location, and assessed value can climb at most 2% annually until a change of ownership or new construction resets it. The 2026 roll put the City of San Bernardino's total assessed value at $24.7 billion, 3.4% above 2025. The county's transfer tax, per Chicago Title's 2026 guide, is $1.10 for every $1,000 of price, customarily paid by the seller, with no separate city levy.
Faults, fire weather and creeks. The City's 2016 hazard mitigation plan says numerous active and potentially active faults traverse San Bernardino and puts building damage in the city above $13 billion under the magnitude 7.8 ShakeOut scenario on the southern San Andreas fault. Santa Ana winds channeled through Cajon Pass raise wildfire danger in the foothill, canyon and mountain areas, and the plan counted 20 flood events since 2005. FEMA labels zones starting with A or V as high risk, and a property there with a government-backed mortgage must carry flood insurance.
Insurance after State Farm. State Farm General announced on March 20, 2024 that it would leave the California commercial apartment line, non-renewing about 42,000 policies starting August 20, 2024. For buildings that lost that coverage, the replacement policy now sets the insurance line.
A statutory foreclosure clock. Civil Code 2924 requires a recorded notice of default and generally a three-month wait before the notice of sale; Civil Code 2924f then sets posting, publication and recording deadlines, and each of the three carries a 20-day minimum lead time.
Financing Options in San Bernardino
One of these three cards will fit almost any San Bernardino request:
Fresno, Stockton and other California cities: see California apartment loans.
Insurance Comes First in a San Bernardino Refinance
The Assessor reappraises only at a change of ownership or on new construction, which leaves a refinanced building's assessed value where it was, still limited to 2% annual growth. If your building was among the commercial apartment policies State Farm General stopped renewing from August 2024, the replacement premium now sits in the operating statement the new lender will underwrite, its deductibles get checked against the lender's insurance rules, and proceeds sized on an older expense line can come up short.
The City's Housing Element shows more than half of occupied multifamily units in 2015-2019 Census survey data were built before 1980, so expect the property condition report to dwell on roofs, plumbing and electrical service, with open repair items turning into a holdback or a reserve. Invoices for finished capital work help the lender credit what is already done.
San Bernardino Apartment Building Loans Near Campus, Downtown and the Foothills
Properties with five or more apartments account for 15,196 homes, 23% of the city's housing, in 2020 state figures cited by the Housing Element. We finance:
- Pre-1980 garden apartment complexes
- Five- to 20-unit walk-up buildings
- Higher-density rentals in the University District
- Mixed-income and affordable communities
- Newer buildings still inside AB 1482's 15-year exemption
- Portfolios that pair duplexes or triplexes with larger buildings
When a San Bernardino Property Moves to Multifamily Programs
The two agencies, Fannie Mae and Freddie Mac, top out at 80% LTV, stretch to 30-year terms and carry no personal recourse beyond the customary carve-outs. FHA financing through HUD amortizes longest of all, and CMBS lenders bring their own non-recourse execution. On a mixed-income San Bernardino apartment complex, the affordability covenants and their rent limits are underwritten alongside the market-rate units.
Program detail lives on California multifamily loans, and the agencies have their own pages: Fannie Mae and Freddie Mac.
California Multifamily Loan Rates
For larger balances, over $6 million
Warehouse, Office and Retail Loans in San Bernardino
The same multi-lender review applies to San Bernardino's industrial, medical and retail buildings. We also arrange:
Nearby Apartment Loan Markets
More California cities with their own apartment loan pages, Riverside and Pasadena among them:
Los Angeles · San Jose · Sacramento · Lancaster · Stockton · Long Beach · Oakland · Pasadena · Riverside · San Diego · San Francisco · Concord · Fresno · All California · Other U.S. cities
Recent Apartment Loan Closings
These recent closings are in other states; each was shopped to competing lenders first, the way we handle San Bernardino apartment loans.
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 San Bernardino Apartment Loan Quote
Send the current rent roll, twelve months of income and expenses, insurance declarations with premium history, the latest tax bill and any seismic or condition reports on your San Bernardino building, and we will return written terms from competing lenders.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up