Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Vancouver, Washington
Vancouver Apartment Loans in 2026
Select Commercial specializes in Vancouver apartment loan solutions for local investors, plus apartment building financing for larger properties and portfolios, with rates as low as 5.74% and up to 80% LTV. For properties elsewhere in the state, see our Washington apartment loans; for loans over $6 million, see Vancouver multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Vancouver
Vancouver apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Washington apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Vancouver 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 | 5.76% | Up to 75% |
| 7 Year Fixed | 5.74% | Up to 75% |
| 10 Year Fixed | 5.76% | 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 16, 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 Vancouver Apartment Loan Programs
As a broker, we compare every program to find your best-fit Vancouver 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 Vancouver multifamily loans.
2026 Vancouver Apartment Loan Market: Vancouver Anchors the Region as the Tightest Apartment Market in Southwest Washington
Vancouver sits within the Portland-Vancouver-Hillsboro metro and has emerged as one of the most resilient rental markets in the Pacific Northwest. The city is absorbing the bulk of the region's new apartment supply while surrounding Clark County stays exceptionally tight, and a no state income tax advantage continues to draw renters across the river. Job recovery, population growth, and steady demand keep fundamentals ahead of the broader metro.
Employment
Clark County employment has recovered to roughly 114 percent of its 2020 level, outpacing the rest of the Portland metro, even as the wider Portland-Vancouver-Hillsboro metro saw nonfarm payrolls fall about 35,000 jobs, or 2.8 percent, in the year ending May 2026. Business investment topping 1.68 billion dollars and thousands of jobs created or retained have reinforced local demand.
Construction and supply
Vancouver carries the region's supply wave, with about 2,187 units under construction, equal to roughly 5.6 percent of existing inventory and around half of all units being built across the Portland area. Over the trailing 12 months the city delivered 842 units and absorbed 905, while outlying Clark County has essentially no new construction underway.
Vacancy
Vacancy in the city of Vancouver stands near 6.6 percent as it works through new deliveries, while Clark County overall sits at an extremely tight 3.7 percent, well below its five year average of 5.7 percent. County vacancy is expected to hold near 3.8 percent through 2026.
Rent trend
Effective rents in the city of Vancouver run about 1,686 dollars per month, roughly flat over the past year, while Clark County asking rents average about 1,769 dollars with growth of 1.6 percent year over year. Concessions in the county remain the lowest in the metro at just 0.5 percent.
2026 Vancouver forecast at a glance:
- Vancouver will remain a leasing focused market in 2026 as the current construction pipeline is absorbed
- Outlying Clark County should stay exceptionally tight given almost no new supply is scheduled
- Rent growth is positioned to firm as deliveries slow and vacancy trends lower
- Population gains and the no state income tax advantage should sustain long term renter demand
Vancouver Multifamily Loans (Over $6 Million)
For larger Vancouver 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 Vancouver 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.
Vancouver Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Vancouver 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 Vancouver
As a full-service commercial mortgage broker, we arrange Vancouver financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Vancouver Neighborhoods We Serve
Select Commercial provides apartment loans throughout Vancouver, Washington and the surrounding area, including:
- Downtown
- Uptown Village
- Esther Short
- Shumway
- Hough
- Arnada
- Carter Park
- Rose Village
- Bagley Downs
- Fircrest
- Cascade Park
- Fisher's Landing
- Felida
- Salmon Creek
- Fruit Valley
- West Minnehaha
- Ellsworth Springs
- Northwest
For other cities in the state, see Washington 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 Vancouver Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Vancouver 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