Tulsa, Oklahoma
Tulsa Apartment Loans in 2026
Behind the west Tulsa levees or a few blocks from the Gathering Place, Tulsa apartment loans from Select Commercial begin at $1,500,000, run up to 80% LTV and, on a stabilized building, can price from 6.12%; our commercial mortgage rates page has the full grid by loan program. We put each request in front of banks, the agencies, HUD, conduit desks and bridge funds, bill nothing for applications or processing, and hand back written lender terms. Bigger properties are handled on Tulsa multifamily loans, while other Oklahoma markets fall under Oklahoma apartment loans.
Get a Free QuoteSecond-Half Job Gains and a Slightly Soft Apartment Market in Tulsa
The Bureau of Labor Statistics' preliminary September 2026 tally for metro Tulsa is 485,600 nonfarm jobs, 0.7% ahead of September 2025 and a turnaround from an April-to-June dip below 2025 levels. Over the year, construction employment climbed 4.9% and health and education jobs 2.2%, while information lost 6.8% and the leisure and hospitality sector 1.9%.
HUD's analysis as of January 1, 2026 rates the metro rental market slightly soft: apartments stood 10.8% vacant in late 2025 as about 1,575 completions outran 1,200 units of absorption, though class A vacancy fell to 7.4%. HUD expects the excess of vacant units plus 1,525 under construction to meet demand through the opening two years of its three-year forecast. With supply still leasing, we underwrite each Tulsa apartment loan to collections already in place.
Tulsa Rent Figures, Hospitals and the Maintenance Base
Apartment List's October 2026 report pegs the citywide median at $1,084 after a 0.5% September gain; over 12 months it is up 2.9%, while the state gained 1.7% and the country slipped 0.4%. Medians by size: $905 for one bedroom, $1,127 for two. At RentCafe, which tracks all city properties with 50-plus units, the September 30, 2026 average stood at $1,035, 2.44% above the year-earlier $1,010, with renters making up 48% of city households.
Saint Francis Healthcare System heads the Oklahoma Department of Commerce employer list in HUD's report (7,500 to 8,000 workers, school districts excluded), ahead of American Airlines at 5,000 to 5,500 and City government at 3,500 to 4,000; about 5,000 airline employees work at its maintenance facility here, and HUD notes a planned $4 billion aluminum plant at the Tulsa Port of Inola with 1,000 jobs. Lenders weigh how much a rent roll depends on them.
Tulsa Apartment Loan Rates
Rates updated as of November 7, 2026
The grid shows opening quotes for a leased-up building. Behind the west Tulsa levees, the FEMA zone shown on the survey can still move the final terms.
| 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 Tulsa Multifamily Rates Over $6 Million, Starting at 6.12%
Rates last updated November 7, 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.
Tulsa Neighborhoods on the National Register and Beyond
The Tulsa Preservation Commission lists 14 residential National Register districts, among them Maple Ridge, Swan Lake, Yorktown, Owen Park, Riverview and White City. RentCafe's September 2026 averages for buildings of 50-plus units run $1,562 in the Brady Arts District, $1,489 in the Blue Dome District and $1,267 in Brookside. In Greenwood and North Tulsa, the Kirkpatrick Heights-Greenwood Master Plan covers 56 acres of City and Tulsa Development Authority land. On the riverfront, the Gathering Place opened its 66.5-acre first phase in September 2018, and Zink Lake followed over Labor Day weekend 2024. Broken Arrow, Jenks, Bixby and Sand Springs are separate cities we also serve.
Inside the city limits, Tulsa apartment loans we arrange reach neighborhoods such as:
- Brookside
- Maple Ridge
- Midtown
- Kendall-Whittier
- Owen Park
- Swan Lake
- Riverview
- Florence Park
- Ranch Acres
- White City
- Yorktown
- Greenwood
- Brady Heights
- Tracy Park
- Gillette
- Riverside
- Blue Dome District
- Brady Arts District
The Lender Lineup for a Tulsa Apartment Building
A Midtown walk-up, a downtown loft and a south Tulsa garden complex rarely suit one lender, so we price every request against each program below:
| 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 |
Lenders typically test cash flow at 1.25 times the mortgage payment or better, after the Tulsa County tax bill and, in an A zone, the flood premium. Bigger balances start at Tulsa multifamily loans.
Rates last updated November 7, 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.
Tulsa Underwriting Starts at the County Line
Four counties, one city. Census Bureau files place parts of Tulsa in Osage, Rogers and Wagoner Counties as well as Tulsa County, and the assessor and levy follow the parcel. Tulsa County assesses real property at 11% of its fair cash value and inspects it visually every four years; its Excise Board sets yearly taxes for about 30 entities. The assessor's 2024 weighted county average was 127.48 mills, or $14,023 annually for every $1 million of fair cash value. The 5% cap on annual increases in fair cash value lapses in the year a property sells, and State Question 847, before voters on November 3, 2026, would lower it to 4% from 2027.
A city code team for apartments. Since July 2023, inspectors from Code Enforcement and the Fire Marshal's office have checked multifamily properties, which the City defines as four or more apartments in one building or parcel, taking 311 complaints and issuing notices with deadlines to fix violations. KJRH reported in July 2024 that in the first year they inspected about 20% of the properties on their list and found violations at 97% of them, and an August 2023 code update lets officials require landlords with violations to consult an architect. State law (11 O.S. 14-101.1) bars city rent control on private rentals, with narrow exceptions.
The 1984 flood and a Class 1 rating. FEMA recounts that the 1984 Memorial Day flood left 14 people dead, injured 288 and flooded about 7,000 buildings. Tulsa, in the Community Rating System since 1991, reached Class 1 in 2022, one of two such communities nationally at the time, and still cited it in April 2026, with premium discounts of up to 45%. Any building FEMA maps into a high-risk zone carrying an A or V prefix needs flood coverage when the loan is government-backed or the lender federally regulated, and NFIP building coverage on a residential structure built for at least five families stops at $500,000.
West Tulsa levees. Built by the Corps of Engineers in 1945, the Tulsa-West Tulsa Levee system was ranked after the 2019 flood among the top 5% of levee systems nationwide, signaling the highest risk for failure. Full funding of $137.4 million was announced in January 2022, a partnership agreement with Tulsa County Drainage District 12 followed in August 2025, and the Tulsa Flyer reported in May 2026 that a $191 million repair project will start in 2027 and take several years. The levees protect some 10,000 residents and about $2 billion of property, so we pull the flood determination early.
Financing Options in Tulsa
Owners usually begin with one of these pages:
Norman, Stillwater, Lawton and every other Oklahoma market appear on Oklahoma apartment loans.
Tulsa Refinancing Turns on Occupancy and Flood Coverage
In HUD's Midtown market area, which includes the University of Tulsa, apartment vacancy climbed to 13.6% from 9.9% during 2025, while downtown eased to 13.6% from 15.0%. A Tulsa refinance is sized on current collections, not a pro forma.
Under the city's Class 1 rating, flood premium discounts can reach 45%, which matters in an A zone, and owners behind the west Tulsa levees will be asked about the 2027 repairs. Clear or document any open City violation notice before applying; lenders treat unresolved ones as deferred maintenance.
Tulsa Apartment Building Loans and the Buildings Behind Them
A March 2023 citywide housing assessment put nearly half of the city's housing past the 50-year mark and, from CoStar data, counted close to 59,400 multifamily units in 685 properties. HUD dates 35% of the metro's occupied rentals in five-plus-unit buildings to before 1980. We arrange financing for:
- Garden-style apartment complexes
- Downtown mid-rises and loft conversions
- Walk-ups in Midtown's older neighborhoods
- Buildings leased to University of Tulsa students and staff
- LIHTC and income-restricted properties
- Mixed-use buildings with shops below apartments
Long-Term Multifamily Money for Tulsa's Garden Communities
Agency execution opens up once a community is big enough. Fannie Mae will advance as much as 80% of value on fixed terms reaching 30 years, Freddie Mac matches those limits, and personal liability stays confined to customary carve-outs. HUD's FHA route has the longest payoff schedule: Fannie Mae's Risk Share terms for FHA loans permit a loan to amortize completely across 40 years. Conduit (CMBS) debt carries no recourse; banks negotiate flexible structures and frequently want a personal guaranty.
On a large complex, lenders check the county and levy for each parcel and the flood zone of each building, especially in west Tulsa. See Tulsa multifamily loans, or the Fannie Mae multifamily program and Freddie Mac multifamily program pages.
Tulsa Multifamily Loan Rates
For larger balances, over $6 million
Commercial Property Loans Around Tulsa
Investors with offices, retail centers, warehouses or medical space get the same multi-lender shopping for those buildings:
Nearby Apartment Loan Markets
Oklahoma City is covered on a separate page; the rest of Oklahoma and other U.S. cities are linked here too:
Recent Apartment Loan Closings
No Oklahoma property appears in this set of recent loans; each was still shopped among competing lenders, the treatment a Tulsa building receives.
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 Tulsa Apartment Loan Quote
Lenders weighing a Tulsa property request two years of income and expense statements, a current rent roll, the latest county tax statement and valuation notice, insurance declarations (plus any NFIP policy), a FEMA flood determination and any open City violation notice with proof of the fix.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up