Tampa, Florida
Tampa Apartment Loans in 2026
Insurance costs and new supply are what lenders press hardest on in Tampa this year, and every request we take is shopped to banks, agency lenders and debt funds with both already addressed. Our Tampa apartment loans run from $1,500,000 up to an 80% LTV ceiling, pricing as low as 6.12% for qualified buildings anywhere from Seminole Heights to South Tampa. Larger buildings belong on our multifamily program for Tampa, other Florida markets on apartment financing across Florida, and today's commercial mortgage rates on every loan type are posted for comparison.
Get a Free QuoteWhat the Tampa Bay Rebalancing Means for Apartment Loans
Forecasters have treated 2026 as a rebalancing year across the Tampa-St. Petersburg market: fewer new deliveries, vacancy edging lower and rent growth returning after a soft stretch. A second-quarter 2026 forecast had hiring picking up, with about 13,500 jobs, a 0.9% gain, and household formation running ahead of the national rate, which keeps a floor under renter demand.
Construction is the bigger swing factor. Roughly 5,800 units are due in 2026, another step down, for inventory growth of about 1.9%, the slowest pace since 2020. Central Tampa and the New Tampa-East Pasco County submarket are where the most new supply is concentrated, which keeps lease-up competition livelier there than elsewhere in the region. Region-wide, vacancy was forecast to tighten by roughly 30 basis points to about 5.8%, a better backdrop for underwriting a Tampa apartment building loan where absorption holds up.
Average effective rent fell in 2025 for the first time since 2009, and the same forecast expected a modest recovery, to about $1,800 a month at the end of 2026, a gain of roughly 0.7%.
Where Rents Stand in Late 2026
The latest readings show a city still working through new supply. Apartment List's October 2026 report puts the citywide median rent at $1,521, 2.8% below its level a year earlier, with one-bedrooms at $1,287 and two-bedrooms at $1,607. RentCafe, which reports the average rent in buildings with 50 or more units rather than the median, showed $2,025 as of October 1, 2026, down 1.19% year over year, and counts half of Tampa's households as renters.
That gap between forecast and reality matters for a Tampa apartment loan. Lenders size today's deals on in-place rents and trailing expenses, so a pro forma that leans on fast rent growth gets cut back to the actual rent roll.
Tampa Apartment Loan Rates
Rates updated as of November 9, 2026
These are best-case starting rates. In this market the insurance line on the operating statement often decides how much a lender will advance, so we review your current policy before we quote a final number.
| 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 Tampa Multifamily Rates Over $6 Million, Starting at 6.12%
Rates last updated November 9, 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.
Tampa Neighborhoods and Submarkets We Finance
Downtown is where Water Street Tampa keeps growing: its developer announced a 452-unit residential tower in July 2026 after reporting its office tower 95% occupied that March. North of downtown, Tampa Heights and Seminole Heights include City local historic districts with their own design guidelines, and Ybor City has guidelines too, so a renovation budget on an older building there may need preservation review before a lender will fund it. South Tampa shares the Interbay Peninsula with MacDill Air Force Base, and Westshore is a principal business district beside the airport.
Our Tampa lending reaches every one of those districts and the neighborhoods around them:
- 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 Islands
- Old West Tampa
- Ybor City
- Ballast Point
- Beach Park
- Palma Ceia
Comparing Tampa Apartment Loan Programs
Every request we take goes to more than one capital source, and the programs open at roughly these rates:
| 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 |
Plan on a debt-service-coverage ratio of at least 1.25x with most lenders, and remember that a higher insurance premium lowers the net operating income that coverage is tested against. Financing a bigger building? See Tampa multifamily loans for those programs.
Rates last updated November 9, 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.
Florida Rules, Taxes and Insurance Behind a Tampa Apartment Loan
No rent control. Florida law bars any city or county from adopting or keeping a measure "that would have the effect of imposing controls on rents" (Florida Statutes s. 166.043 for cities and s. 125.0103 for counties), and the 2023 Live Local Act deleted the authority local governments once had to adopt rent controls. Section 83.425 goes further and preempts landlord-tenant regulation to the state. Rents here are set by the market, which is why lenders study supply and absorption rather than local ordinances.
Taxes on the loan itself. Florida charges documentary stamp tax on the note at 35 cents per $100 of debt (s. 201.08) and a one-time nonrecurring intangible tax of 2 mills on the mortgage (s. 199.133). On a $3,000,000 loan that is $10,500 in stamps plus $6,000 in intangible tax. The stamps are paid to the clerk when the mortgage is recorded, and a purchase adds deed stamps of 70 cents per $100 of the price, so we build all three into the closing budget.
Assessment caps, and the reset on sale. An apartment building is not homestead property, so Florida limits annual increases in its assessed value to 10% for levies other than school taxes. A sale, or a transfer of more than half of the owning entity, resets the assessment to just value the following January 1, which means a buyer's tax line is underwritten at the reset value rather than the seller's bill. Voters decide Amendment 3 on November 3, 2026; with 60% approval it would lower that cap to 5% starting in 2027.
Storms and insurance. Hurricane Helene drove 5 to 7 feet of storm surge into Tampa Bay in September 2024, and Milton followed in October with an 83-knot gust at Tampa International Airport and record crests on the Hillsborough River, according to the National Hurricane Center. Lenders now ask for the flood zone, the wind deductible and the premium history at the start. The federal flood program caps building coverage at $500,000 per building for an apartment building with five or more units, so larger properties in a flood zone typically carry excess flood coverage as well.
Financing Options in Tampa
Owners here usually need one of three kinds of financing. Pick the one that matches your building:
Buying somewhere else in Florida? Start with our Florida apartment loans page.
Refinancing in Tampa After the 2024 Storms
Most refinances in 2026 turn on two lines of the operating statement: insurance and taxes. A building bought before the 2024 storms may be carrying a premium that has since been repriced, and the new lender will size the loan off the current premium, not the one in the old appraisal. Bring the renewal quote, your trailing operating statements and a current rent roll, and we will show you the coverage-based loan amount before you pay for an appraisal.
New money also means new closing taxes: a refinance with a new note and mortgage pays Florida's documentary stamp and intangible taxes again, so we put them in the math up front. If you are rolling off a five-year fixed loan from the low-rate years, weigh a cash-out refinance against a rate-and-term loan that carries a lighter prepayment schedule; the better choice depends on how much of the rent roll is already at market.
Tampa Apartment Building Loans by Property Type
Tampa's rental stock ranges from older brick and frame buildings near Ybor City and Tampa Heights to suburban garden communities toward New Tampa. Buildings we regularly finance include:
- Suburban garden apartment complexes
- Mid-rise and high-rise buildings downtown and along the Hillsborough River
- Older walk-up buildings in the historic districts
- Workforce and affordable properties, including Live Local Act projects
- Rentals serving University of South Florida students
- Downtown buildings with shops or offices on the ground floor
Our smallest Tampa loan is $1,500,000.
Tampa Multifamily Loans for Large Stabilized Assets
When a property needs a bigger loan, the lender list changes. Agency lenders (Fannie Mae's DUS program and Freddie Mac), HUD's FHA programs and CMBS conduits compete for stabilized buildings. The agencies offer non-recourse terms, leverage up to 80% and fixed rates for as long as 30 years; HUD stretches further with fully amortizing loans. On a Tampa Bay property, each of them will review the wind and flood coverage before quoting.
Our multifamily loans for Tampa page covers those programs in detail, or read our Fannie Mae and Freddie Mac guides.
Tampa Multifamily Loan Rates
For larger balances, over $6 million
More Than Apartments: Tampa Commercial Loans
Own other property around Hillsborough County? We arrange these loans as well:
Nearby Apartment Loan Markets
Other Florida cities we finance, from Miami to Jacksonville:
Miami · Orlando · Fort Lauderdale · Jacksonville · All Florida · Other U.S. cities
Recent Apartment Loan Closings
From upstate New York to Texas, each of these loans went through the lender comparison we run for Tampa buildings.
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
Send the rent roll, operating statements and your latest insurance renewal for the Tampa property; our written answer starts with the premium, because lenders do.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up