Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Toledo, Ohio
Toledo Apartment Loans in 2026
Select Commercial specializes in Toledo apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.81% and up to 80% LTV. For properties elsewhere in the state, see our Ohio apartment loans; for loans over $6 million, see Toledo multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Toledo
Toledo apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Ohio apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Toledo 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 | 5.81% | Up to 75% |
| 7 Year Fixed | 5.79% | Up to 75% |
| 10 Year Fixed | 5.81% | 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 12, 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 Toledo Apartment Loan Programs
As a broker, we compare every program to find your best-fit Toledo 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 Toledo multifamily loans.
2026 Toledo Apartment Loan Market: Balanced and affordable, jobs softening
Toledo's apartment market has moved toward balanced conditions in 2026 after several strong years, with affordable rents and manageable vacancy.
Employment
Metro employment rose by about 3,400 jobs in the year ending mid 2025 but has since softened, with more recent readings showing year over year declines.
Vacancy
Vacancy is running near 5.4 percent, indicating a balanced market.
Rent trend
Average apartment rent is about $989 per month, up roughly 2.1 percent year over year.
2026 Toledo forecast at a glance:
- Market normalizes after strong years
- Vacancy near 5 percent
- Rents rise about 2 percent
- Employment trend softens
Toledo Multifamily Loans (Over $6 Million)
For larger Toledo 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 Toledo 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.
Toledo Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Toledo 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 Toledo
As a full-service commercial mortgage broker, we arrange Toledo financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Toledo Neighborhoods We Serve
Select Commercial provides apartment loans throughout Toledo, Ohio and the surrounding area, including:
- Old West End
- Ottawa Hills
- Point Place
- The Vistula
- Old Orchard
- Toledo Warehouse District
- Uptown
- Deveaux
- Beverly
- Westmoreland
- Birmingham
- DeVilbiss
- Reynolds Corners
- Onyx
- Shoreland
- Ottawa
- Colony
- Franklin Park
For other cities in the state, see Ohio apartment loans.
Nearby Apartment Loan Markets
We finance apartment buildings nationwide. Explore related markets:
Cincinnati · Cleveland · Columbus · All Ohio · 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 Toledo Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Toledo 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