Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Tucson, Arizona
Tucson Apartment Loans in 2026
Select Commercial specializes in Tucson 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 Arizona apartment loans; for loans over $6 million, see Tucson multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Tucson
Tucson apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Arizona apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Tucson Apartment Loan Rates
Rates updated as of August 21, 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 21, 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 Tucson Apartment Loan Programs
As a broker, we compare every program to find your best-fit Tucson 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 Tucson multifamily loans.
2026 Tucson Apartment Loan Market: Demand in Key Development Zones Signals Renewed Investor Confidence
Signs point to renewed investor confidence in Tucson as demand concentrates in key development zones. A decelerating construction pipeline and stable, below-average vacancy support marginal rent growth heading into 2026.
Employment
Tucson anticipates the addition of 500 jobs in 2026, a modest gain that still represents an improvement from the prior two years, when the market lost jobs in aggregate.
Construction and supply
The metro's inventory expands by 0.7 percent in 2026, marking its first sub-1 percent increase since 2020, a threshold surpassed in only three other years since 2000.
Vacancy
A reduced delivery slate is expected to modestly lower vacancy, though at 5.4 percent by year-end the rate will tie for the ninth highest among major U.S. markets.
Rent trend
Rent growth is forecast to reemerge after two years of decline, pushing the average to $1,200 per month, tying San Antonio for the most affordable major market.
2026 Tucson forecast at a glance:
- The metro adds 500 jobs, an improvement after two years of losses.
- Inventory expands 0.7 percent, the first sub-1 percent increase since 2020.
- Vacancy edges down to 5.4 percent, tying for ninth highest nationally.
- Average rent reaches $1,200 per month as rent growth reemerges.
Tucson Multifamily Loans (Over $6 Million)
For larger Tucson 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 Tucson 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.
Tucson Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Tucson 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 Tucson
As a full-service commercial mortgage broker, we arrange Tucson financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Tucson Neighborhoods We Serve
Select Commercial provides apartment loans throughout Tucson, Arizona and the surrounding area, including:
- Downtown
- Sam Hughes
- West University
- Barrio Viejo
- Armory Park
- Catalina Foothills
- Casas Adobes
- Oro Valley
- El Presidio
- Rincon Heights
- Dunbar Spring
- Menlo Park
- Blenman-Elm
- Midtown
- Civano
- Drexel Heights
For other cities in the state, see Arizona 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 Tucson Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Tucson 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