Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Tampa, Florida
Tampa Apartment Loans in 2026
Select Commercial specializes in Tampa apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.68% and up to 80% LTV. For properties elsewhere in the state, see our Florida apartment loans; for loans over $6 million, see Tampa multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Tampa
Tampa apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Florida apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Tampa Apartment Loan Rates
Rates updated as of August 23, 2026
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.08% | Up to 80% |
| 7 Year Fixed | 6.19% | Up to 80% |
| 10 Year Fixed | 6.28% | Up to 80% |
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 5.68% | Up to 75% |
| 7 Year Fixed | 5.79% | Up to 75% |
| 10 Year Fixed | 5.88% | 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 23, 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 Tampa Apartment Loan Programs
As a broker, we compare every program to find your best-fit Tampa apartment financing. Typical starting points for properties under $6 million:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.08% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.15% | Up to 80% | $2M to $10M 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 Tampa multifamily loans.
2026 Tampa Apartment Loan Market: Slowing Deliveries Help Tighten Vacancy as Rent Growth Reaccelerates
Tampa enters 2026 in a rebalancing phase as supply and demand shift within the broader Tampa-St. Petersburg market. For Tampa borrowers comparing apartment building loans, the same fundamentals behind a durable Tampa apartment loan remain the focus: employment growth, the pace of new deliveries, vacancy direction, and rent momentum across major Tampa-area submarkets.
Employment
Within the Tampa-St. Petersburg market, total employment is expected to add about 6,000 jobs in 2026, marking the fourth consecutive year of slower growth. Even so, the metro is still projected to outpace the national gain, supporting baseline renter demand that helps stabilize Tampa apartment loan performance.
Construction and supply
Deliveries are projected to fall again, with about 5,300 units expected in 2026. Inventory is still projected to expand about 1.8%, placing the broader market in the top quartile for growth, but the cooling pipeline should bring relief to areas that faced heavier construction in recent years. In Tampa, submarkets such as Central Tampa and New Tampa-East Pasco County can still see elevated completions, which may keep lease-up competition more active than in other parts of the region.
Vacancy
Vacancy within the Tampa-St. Petersburg market is projected to tighten by about 20 bps in 2026, ending near 5.4%. That improvement supports steadier underwriting for a Tampa apartment building loan, especially where deliveries are easing and absorption holds up.
Rent trend
Contracting vacancy is expected to lift rent growth to the fastest pace since 2022. Average effective rent in the Tampa-St. Petersburg market is projected near $1,875 per month in 2026, up roughly 2.1%. For a Tampa apartment loan, this supports more constructive income assumptions than the recent period of softer pricing power.
2026 Tampa forecast at a glance:
- Employment Growth: About 6,000 jobs added in 2026 (approximately +0.4%) across the Tampa-St. Petersburg market.
- Construction Trends: About 5,300 units projected for delivery in 2026, the lowest level since 2020.
- Vacancy: Vacancy projected near 5.4%, improving by roughly 20 bps.
- Rent: Average effective rent projected near $1,875 per month, up about 2.1%.
Tampa Multifamily Loans (Over $6 Million)
For larger Tampa 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 Tampa 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.
Tampa Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Tampa 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 Tampa
As a full-service commercial mortgage broker, we arrange Tampa financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Tampa Neighborhoods We Serve
Select Commercial provides apartment loans throughout Tampa, Florida and the surrounding area, including:
- East Tampa
- Sulphur Springs
- Tampa Palms
- University Square
- Temple Crest
- Wellswood
- North Hyde Park
- Old Seminole Heights
- Forest Hills
- Tampa Heights
- Seminole Heights
- Hunters Green
- Bayshore Beautiful
- North Tampa
- Davis Island
- Old West Tampa
- Ybor City
- Ballast Point
- Beach Park
- Palma Ceia
For other cities in the state, see Florida apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
Miami · Orlando · Fort Lauderdale · Jacksonville · All Florida · Other U.S. cities
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 Tampa Apartment Loan Quote
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- For 5+ unit and commercial properties, $1.5M and up