Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
St. Louis, Missouri
St. Louis Apartment Loans in 2026
Select Commercial specializes in St. Louis apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.74% and up to 80% LTV. For properties elsewhere in the state, see our Missouri apartment loans; for loans over $6 million, see St. Louis multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in St. Louis
St. Louis apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Missouri apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
St. Louis Apartment Loan Rates
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.16% | Up to 80% |
| 7 Year Fixed | 6.14% | Up to 80% |
| 10 Year Fixed | 6.16% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 5.76% | Up to 75% |
| 7 Year Fixed | 5.74% | Up to 75% |
| 10 Year Fixed | 5.76% | Up to 75% |
- Streamlined underwriting for institutional multifamily
- Cash-out refinances are acceptable
- Interest-only and non-recourse options
- Minimum 1.25x debt-service-coverage ratio
Rates last updated August 16, 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 St. Louis Apartment Loan Programs
As a broker, we compare every program to find your best-fit St. Louis 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 | 6.15% | Up to 80% | $1M to $7.5M small balance |
| FHA / HUD | 6.12% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.25% | 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 St. Louis multifamily loans.
2026 St. Louis Apartment Loan Market: Vacancy and Sales Activity at Historically Favorable Marks
St. Louis is steering through a softer hiring landscape with vacancy and transaction activity at historically favorable levels. This year began with metrowide apartment vacancy under 4 percent, a feat achieved only once in the past 20 years.
Employment
The metro's employment base will contract for the second straight year in 2026, shedding about 11,000 jobs, with headwinds continuing in manufacturing and logistics.
Construction and supply
Approximately 200 more units will be completed this year than in 2025, though the resulting 1.0 percent increase to inventory falls short of the metro's trailing-decade average.
Vacancy
After dropping 240 basis points over the past two years, the metrowide vacancy rate will inch up to 4.2 percent by December as fewer job opportunities weigh on household formation.
Rent trend
Demand that slightly trails added supply will curtail rent growth, though the average effective rate will advance modestly to $1,386 per month.
2026 St. Louis forecast at a glance:
- Employment contracts again, shedding about 11,000 jobs.
- Inventory grows 1.0 percent as roughly 200 more units deliver than in 2025.
- Vacancy inches up to 4.2 percent after a 240 basis-point two-year drop.
- Average effective rent advances to $1,386 per month.
St. Louis Multifamily Loans (Over $6 Million)
For larger St. Louis 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 St. Louis 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.
St. Louis Apartment Loan Types We Serve
Whether you are purchasing or refinancing a St. Louis 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 St. Louis
As a full-service commercial mortgage broker, we arrange St. Louis financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
St. Louis Neighborhoods We Serve
Select Commercial provides apartment loans throughout St. Louis, Missouri and the surrounding area, including:
- Central West End
- The Hill
- Soulard
- Lafayette Square
- Tower Grove
- Downtown
- Shaw
- Benton Park
- Dogtown
- The Grove
- Carondelet
- Cherokee Street
- Skinker-DeBaliviere
- Midtown
- Bevo Mill
- Botanical Heights
For other cities in the state, see Missouri 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 St. Louis Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on St. Louis 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