Virginia Apartment Loan Rates
Select Commercial offers some of the most competitive Virginia apartment loan rates available, with 5, 7, and 10-year fixed-rate options starting as low as 5.73% as of May 9, 2026. As one of the most experienced apartment lenders in Virginia, we arrange apartment building loans and apartment building financing for properties valued between $1.5 million and $6 million, with up to 80% LTV, 30-year amortizations, and no upfront fees. For loans over $6 million, see our Virginia multifamily loan options.
| VA Apartment Loan Rates Less Than $6 Million | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Apartment Loan 5 Yr Fixed | 5.73% | Up to 80% | |
| Apartment Loan 7 Yr Fixed | 5.73% | Up to 80% | |
| Apartment Loan 10 Yr Fixed | 5.79% | Up to 80% | |
*Rates start as low as the rates stated here. Your rate, LTV, and amortization will be determined by underwriting.
Virginia apartment loan rates are priced based on the U.S. Treasury yield curve. As of May 9, 2026, the 10-year Treasury yield is 4.364% and the 5-year Treasury yield is 4.013%, which directly influences current pricing on apartment building loans in Virginia.
Want a personalized quote? Click here to request a customized loan quote for your Virginia apartment property.
Why Select Commercial Offers Competitive Virginia Apartment Loan Rates
When investors search for the best apartment loan rates in Virginia, Select Commercial consistently delivers some of the most competitive pricing available for properties under $6 million. We work directly with Fannie Mae Small Loan, Freddie Mac SBL, CMBS conduits, life insurance companies, banks, and credit unions, which means borrowers gain access to a wide network of apartment lenders in Virginia rather than the rates of a single bank. This multi-source approach allows us to consistently match borrowers with the lowest available rate and best terms for their specific apartment property.
Our Virginia apartment building financing programs include 5, 7, and 10-year fixed-rate options, up to 80% LTV, 30-year amortizations, non-recourse availability, and no upfront fees. Whether you are acquiring, refinancing, or pulling cash out of a stabilized apartment property valued between $1.5 million and $6 million, our team structures apartment building loans tailored to your investment goals.
Need a multifamily loan over $6 million? Visit our Virginia multifamily loan page. For other commercial property types, explore our Virginia commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
2026 Virginia Apartment Loan Market Overview
Entering 2026, Virginia presents a diversified apartment market supported by federal employment, technology growth, and strong regional population trends. For borrowers evaluating apartment loans, the state benefits from consistent renter demand across Northern Virginia, Richmond, and Hampton Roads. This environment supports apartment building financing strategies focused on stable occupancy, income durability, and long-term demand across multiple economic sectors.
Development activity across Virginia has remained active, particularly in Northern Virginia, though deliveries are beginning to moderate in select submarkets. Absorption has generally kept pace with new supply, helping maintain balanced vacancy levels. For apartment lenders, Virginia offers an underwriting profile centered on stability, tenant demand, and proximity to major employment centers.
Northern Virginia Anchors Apartment Loans
Northern Virginia remains the primary driver of apartment activity across the state. In 2026, the market is projected to add approximately 30,000 jobs, deliver roughly 9,000 units, maintain vacancy near 5.5%, and reach average effective rent around $2,100 per month. For borrowers seeking an apartment building loan, Northern Virginia offers strong fundamentals tied to government and technology employment.
Richmond Provides Balanced Growth
Richmond offers a growing apartment market supported by finance, healthcare, and logistics. The city has a population of approximately 230,000, median household income near $60,000, median rent around $1,450, and median home value near $320,000. These fundamentals support steady occupancy and income-focused investment strategies.
Virginia Beach Supports Coastal Demand
Virginia Beach contributes a large apartment market supported by military presence and tourism. The city has a population of approximately 460,000, median household income near $80,000, median rent around $1,600, and median home value near $400,000. This supports consistent renter demand and long-term investment stability.
Rent Levels Reflect Mid-Atlantic Positioning
Virginia maintains a wide range of rent levels depending on market. Northern Virginia is projected near $2,100 per month, with Richmond and Virginia Beach lower depending on submarket. This allows borrowers to structure apartment loans across both high-cost urban and workforce housing strategies.
2026 Virginia Apartment Loan Market Forecast
- Employment: Northern Virginia is projected to add approximately 30,000 jobs.
- Construction: Northern Virginia is projected to deliver roughly 9,000 units.
- Vacancy: Vacancy is projected near 5.5%.
- Rent: Average effective rent is projected near $2,100 per month.
For investors comparing apartment loans in Virginia, 2026 reflects a market driven by economic diversity and strong renter demand. Northern Virginia provides the primary scale, while Richmond and Virginia Beach offer complementary opportunities across growth and stability segments.
2026 Northern Virginia Apartment Loan Market Overview
Northern Virginia is the dominant apartment market in Virginia and a national leader for apartment loans in Virginia, a region of approximately 2.5 million residents generating a GDP of approximately $276 billion that accounts for approximately 41.6% of Virginia's entire GDP. The region is anchored by Amazon HQ2 in Arlington's National Landing, the Pentagon, major federal defense and intelligence agencies, and the nation's highest concentration of government technology contractors. Northern Virginia holds four of the top twenty highest median household income jurisdictions in the entire United States, including Loudoun County ranked 1st, Fairfax County ranked 4th, Falls Church City ranked 11th, and Arlington County ranked 12th. The region's median household income is approximately $149,502 as of 2024, the highest of any major metro area nationally. Arlington median home prices hit approximately $805,000 in late 2025, up approximately 21% year-over-year, and Fairfax County averages approximately $750,000. Average rents in Arlington are approximately $2,390 to $2,683 per month with median rent at approximately $2,790, approximately 46% above the national average. Northern Virginia vacancy is approximately 4.8%, significantly below the national average of 7%. These fundamentals support active demand for Virginia apartment loans in the nation's highest-income major metro region.
Northern Virginia Apartment Loan Rates and Financing in 2026
Financing conditions for Virginia apartment loans remain active in Northern Virginia in 2026, with lenders supporting stabilized assets in high-demand submarkets near Amazon HQ2's National Landing campus, the Pentagon and defense contracting corridor, and Metro-accessible nodes in Arlington, Alexandria, Tysons, and Reston. The Arlington median home price of approximately $805,000 and Fairfax County average of approximately $750,000 create extraordinary homeownership barriers that anchor professional renter demand even at median household incomes of approximately $149,502. For context, a two-parent, two-child family in Arlington County requires approximately $171,971 to afford basic necessities due to the region's cost structure, keeping even high-income professional households in rental housing longer than in other markets. For borrowers seeking an apartment building loan in Northern Virginia, the region's $276 billion GDP, Amazon HQ2 institutional anchor, and federal government employment permanence provide a compelling long-term underwriting profile within the broader Virginia apartment building financing landscape.
Trends in the Northern Virginia Apartment Market
Northern Virginia's rental market is undergoing a meaningful recalibration in 2026 as two structural forces intersect: a record supply cycle and a moderation in federal employment. Metro area unemployment climbed from approximately 3.1% to 4.1% within 2025 to 2026 as federal workforce reductions, agency downsizing, and early retirements introduced measurable softness into the regional labor market. The supply pipeline delivered record new units at Tysons, National Landing, and suburban nodes, temporarily pushing Arlington rents down approximately 1.6% year-over-year, the first meaningful contraction since 2020. However, the pipeline is projected to thin by late 2026 and 2027. Amazon HQ2 continues its phased buildout in National Landing, ultimately delivering approximately 25,000 employees at full development. Virginia's average effective rent grew approximately 3.4% year-over-year in Q1 2025 statewide with all nine major metros posting rent increases. The region's four top-twenty national income counties, consistently ranked among the wealthiest in the U.S., provide foundational renter income depth that supports long-term recovery. These fundamentals continue to attract Virginia apartment lenders evaluating the nation's most affluent major metro.
Northern Virginia Apartment Loan Rent Levels in 2026
As of March 2026, the median rent in Arlington is approximately $2,790, approximately 46% above the national average. The average rent in Arlington is approximately $2,390 to $2,683 per month. By unit type in Arlington: studios average approximately $1,649 to $2,060/month, one-bedrooms average approximately $1,665 to $2,390/month, two-bedrooms average approximately $2,164 to $3,120/month, and three-bedrooms average approximately $4,146/month or more. Pentagon City and Downtown Arlington command one-bedroom rents of approximately $2,800 to $2,884/month. Fairfax averages approximately $2,321/month and the broader Northern Virginia median rent for two-bedrooms ranges approximately $2,100 to $2,400/month. Rent growth is projected at approximately 2 to 3.5% for 2026, a return to healthy historical norms. These levels support consistent underwriting for apartment loans in Virginia where Amazon HQ2 and federal contractor demand anchor durable absorption across all Northern Virginia submarkets.
Northern Virginia Apartment Loan Supply and Demand in 2026
Northern Virginia's supply cycle is moderating after a record delivery period. Virginia had approximately 22,628 multifamily units under construction statewide in Q1 2025, approximately 26% lower than one year prior, with Northern Virginia and Richmond holding the largest shares of new construction. Vacancy in Northern Virginia is approximately 4.8%, significantly better than the national average of 7.0% and confirming that even through the elevated supply cycle, demand absorption has been largely effective. The mid and high-rise segment carries approximately 8.0% vacancy while garden and low-rise units run approximately 5.6%, reflecting supply concentration in luxury towers. Fairfax County's median gross rent of approximately $2,276 and the county's approximately 31.4% renter-occupied rate confirm a large and income-dense renter base. For borrowers pursuing apartment building financing in Virginia, Northern Virginia's thinning construction pipeline, approximately 4.8% vacancy significantly below national norms, and the region's $276 billion GDP anchor support an improving underwriting trajectory through 2026 and 2027.
Opportunities for Apartment Investment in Northern Virginia
Investors pursuing a Virginia apartment loan in Northern Virginia in 2026 are focused on long-term stability and income growth from Amazon HQ2's phased National Landing buildout where ultimately approximately 25,000 employees at full development will anchor demand in one of the region's most supply-constrained Metro-accessible nodes, value-add acquisitions in older garden and low-rise stock where approximately 5.6% vacancy and rent growth projected at 2 to 3.5% support consistent repositioning returns at below-new-construction entry costs, and stabilized premium holds in Metro-connected Arlington and Alexandria where median household incomes of approximately $149,502 and home prices of approximately $705,000 to $805,000 structurally anchor professional renter demand long-term. The region's four top-twenty national income counties and $276 billion GDP provide unmatched renter income depth. For Virginia apartment lenders evaluating the nation's most affluent major metro, Northern Virginia offers Amazon HQ2 and Pentagon institutional permanence, the nation's highest regional median household income, and a thinning supply pipeline that supports strong long-term performance for apartment building loans throughout the metro.
2026 Richmond Virginia Apartment Loan Market Overview
Richmond is Virginia's state capital and a well-diversified mid-sized metro market for apartment loans in Virginia, anchored by Capital One Financial's corporate headquarters, Dominion Energy, Altria Group, Virginia Commonwealth University Health System, and a Fortune 500 corporate base that makes Richmond one of the most Fortune 500-concentrated mid-sized cities in the nation. The city has a population of approximately 227,595 to 230,467 residents as of 2026, growing at approximately 0.2% annually. The median household income is approximately $62,671 to $64,587 and the median property value is approximately $328,100 to $373,682, approximately 34% above the national median. Approximately 57,449 to 57,759 renter-occupied households represent approximately 57% of all occupied housing units, making Richmond a majority-renter city. Current data as of March 23, 2026 shows the average apartment rent at approximately $1,600 per month, up approximately 3.59% year-over-year, and the median rent at approximately $1,600, approximately 16% below the national average. Vacancy reached approximately 9.0% in Q4 2025, down from a peak of 9.7% in Q4 2023, with the pipeline contracting and annual absorption of approximately 1,700 to 2,000 units projected to normalize conditions by 2026 to 2027. These fundamentals support active demand for Virginia apartment loans in the state's capital market.
Richmond Virginia Apartment Loan Rates and Financing in 2026
Financing conditions for Virginia apartment loans are improving in Richmond in 2026 as the supply cycle transitions. The approximately 5,202 units still under construction are expected to deliver through 2026 to 2027 before the pipeline depletes significantly, with new construction starts having declined sharply as construction loan costs of approximately 7.5 to 9.0% and high building costs limit development feasibility at current rent levels. The median property value of approximately $328,100 to $353,000 and 43.5% homeownership rate confirm structural renter demand even at Richmond's approximately 57% renter-occupied rate. For borrowers seeking an apartment building loan in Richmond, market analysis confirms the current elevated vacancy represents "a temporary supply overhang creating a buying opportunity rather than fundamental demand weakness," with investors acquiring in 2025 to 2026 positioned for rent growth acceleration and cap rate compression. The city's approximately 3,000 to 5,000 annual job additions and Fortune 500 employer permanence provide consistent underwriting within the broader Virginia apartment building financing landscape.
Trends in the Richmond Virginia Apartment Market
Richmond's rental market benefits from one of the most diversified Fortune 500 and university employment bases among mid-sized Virginia cities. Capital One is Richmond's largest corporate employer with a major corporate campus in the metro. Dominion Energy, one of the nation's largest utility companies, is headquartered in Richmond. Altria Group's headquarters anchors the consumer goods sector. Virginia Commonwealth University is Richmond's largest university, awarding approximately 7,409 degrees in 2023 and anchoring consistent student and medical professional renter demand through the VCU Health System. The University of Richmond awarded approximately 1,261 degrees in 2023. Healthcare and social assistance leads city employment at approximately 17,721 workers, educational services at approximately 12,867 workers, and professional, scientific, and technical services at approximately 12,743 workers. Richmond's median age of approximately 34.5 to 34.7 years and 25 to 34 age group at 33% of renters reflect a strong young professional renter base. Approximately 44.1% of residents hold bachelor's degrees or higher. Richmond's relative affordability compared with Northern Virginia positions it as a long-term beneficiary of Wasatch Front-style in-migration. These fundamentals continue to attract Virginia apartment lenders evaluating the state's capital market.
Richmond Virginia Apartment Loan Rent Levels in 2026
As of March 23, 2026, the average apartment rent in Richmond is approximately $1,600 per month, up approximately 3.59% year-over-year from $1,544, and the median rent is approximately $1,600, approximately 16% below the national average. By unit type: studios average approximately $1,249 to $1,306/month, one-bedrooms average approximately $1,422 to $1,475/month, two-bedrooms average approximately $1,609 to $1,653/month, and three-bedrooms average approximately $2,101 to $2,107/month. Approximately 44.7 to 45% of all Richmond rentals are priced between $1,001 and $1,500 per month. Near West and The Fan command the highest rents at approximately $1,619 to $1,699/month for one-bedrooms, while Ginter Park offers the most affordable at approximately $925/month. Average rents grew approximately 1.7% year-over-year through Q3 2025 and approximately 2.8% in the 12 months through August 2025. These levels support consistent underwriting for apartment loans in Virginia where Capital One and VCU Health System demand anchor durable Richmond absorption.
Richmond Virginia Apartment Loan Supply and Demand in 2026
Richmond's rental market is normalizing after a concentrated supply cycle. Vacancy reached approximately 9.0% in Q4 2025, down from its peak of approximately 9.7% in Q4 2023, a 70-basis-point improvement confirming the correction is working. Approximately 3,442 units were delivered year-to-date through Q3 2025, concentrated in Downtown Richmond and Chesterfield County, with the remaining pipeline of approximately 5,202 units delivering through 2026 to 2027 before new starts decline sharply. Annual absorption of approximately 1,700 to 2,000 units is expected to normalize vacancy to historical averages as the pipeline empties. Approximately 48% of Richmond's rental stock was built before 1970, with the pre-1939 vintage representing approximately 24% of all units, creating a deep value-add repositioning base. Two-bedroom units make up the largest share at approximately 42% of all units. For borrowers pursuing apartment building financing in Virginia, Richmond's recovering vacancy trajectory, thinning construction pipeline, and Fortune 500 employment permanence support an improving underwriting environment through 2026.
Opportunities for Apartment Investment in Richmond Virginia
Investors pursuing a Virginia apartment loan in Richmond in 2026 are focused on stable income and growth potential from Capital One, Dominion Energy, and VCU Health System where professional incomes averaging approximately $62,671 to $64,587 median household and a 57% renter-occupied market support consistent rent capacity, value-add acquisitions at below-replacement-cost pricing where Richmond's approximately 9.0% vacancy has created more favorable entry pricing than any period since 2020, with investors acquiring in 2025 to 2026 positioned for rent growth acceleration as approximately 3 to 3.59% annual rent growth accelerates as the pipeline normalizes, and stabilized holds in The Fan and Scott's Addition neighborhoods where historic character and walkability command premium rents. Richmond's median property value of approximately $328,100 and rents approximately 16% below the national average combine for favorable initial yields. For Virginia apartment lenders evaluating the state's capital market, Richmond offers Fortune 500 employer permanence, VCU's university anchor, and a recovering vacancy trajectory that supports strong long-term performance for apartment building loans throughout the metro.
2026 Virginia Beach Apartment Loan Market Overview
Virginia Beach is Virginia's most populous city and a consistently outperforming apartment market for apartment loans in Virginia, a coastal metro anchored by Naval Air Station Oceana, Joint Expeditionary Base Little Creek-Fort Story, the Hampton Roads military complex spanning the broader Virginia Beach-Norfolk-Newport News MSA, Dollar Tree's corporate headquarters, STIHL Inc.'s North American headquarters, and GEICO's major regional operations. The city has a population of approximately 452,375 to 458,842 residents as of 2026, with the broader Virginia Beach-Norfolk-Newport News MSA at approximately 1.8 million people. The median household income is approximately $92,968 and the median property value is approximately $343,700 to $386,482. Approximately 63,422 renter-occupied households represent approximately 35% of all occupied housing units. Current data as of February 21, 2026 shows the average apartment rent at approximately $1,743 per month, up approximately 2.19% year-over-year, with Virginia Beach ranking as the #1 U.S. metro for year-over-year rent growth at approximately 5.5% in early 2026. The Virginia Beach-Norfolk-Newport News MSA vacancy rate is approximately 4.7%, well below the national average of 7.0% and down approximately 7.84% year-over-year, confirming a tightening market. These fundamentals support active demand for Virginia apartment loans in one of the nation's strongest coastal military and tourism markets.
Virginia Beach Apartment Loan Rates and Financing in 2026
Financing conditions for Virginia apartment loans remain favorable in Virginia Beach in 2026, with lenders supporting stabilized coastal assets near Naval Air Station Oceana, Joint Expeditionary Base Little Creek-Fort Story, and the Oceanfront and Town Center premium submarkets. The median property value of approximately $343,700 to $386,482 and a homeownership rate of approximately 64.6% confirm a market where renter demand is broadly workforce and military-family driven, with consistent BAH-supported rent capacity. Virginia Beach has not recorded annual rent cuts in nearly 10 years, the longest streak of any major Virginia metro, providing exceptional underwriting income stability. For borrowers seeking an apartment building loan in Virginia Beach, the city's #1 U.S. rent growth ranking, approximately 4.7% vacancy well below the national average, and military installation permanence provide a compelling underwriting profile within the broader Virginia apartment building financing landscape.
Trends in the Virginia Beach Apartment Market
Virginia Beach's rental market is defined by permanent dual anchors that operate on independent cycles: military and coastal tourism. Naval Air Station Oceana is one of the largest Master Jet Bases on the East Coast and Joint Expeditionary Base Little Creek-Fort Story is the largest amphibious base in the world, together generating tens of thousands of active military, civilian, and veteran household renters with BAH-supported rent capacity. Dollar Tree is headquartered in Virginia Beach and STIHL Inc. and GEICO add major corporate employment. The Hampton Roads MSA's Old Dominion University awarded approximately 5,241 degrees in 2022 and ECPI University approximately 4,022 degrees. Virginia Beach's apartment market has consistently outperformed national averages: the 3% effective rent growth in the year-ending August 2024 was the seventh-highest performance among all large U.S. markets and well above the U.S. norm of 0.4%. Class A and Class C units both achieved approximately 3.4% annual rent growth through 2024. These fundamentals continue to attract Virginia apartment lenders evaluating the state's largest city.
Virginia Beach Apartment Loan Rent Levels in 2026
As of February 21, 2026, the average apartment rent in Virginia Beach is approximately $1,743 per month, up approximately 2.19% year-over-year from $1,706, and the average rent was approximately $1,820/month as of September 2025, up approximately 4.2% year-over-year. By unit type: studios average approximately $1,487 to $1,574/month, one-bedrooms average approximately $1,373 to $1,558/month, two-bedrooms average approximately $1,740 to $1,769/month, and three-bedrooms average approximately $2,127 to $2,141/month. Approximately 52 to 53% of all Virginia Beach rentals are priced between $1,501 and $2,000 per month. Virginia Beach ranks as the #1 U.S. metro for year-over-year rent growth at approximately 5.5% as of early 2026. The Chesapeake submarket recorded the strongest rent growth in the metro at approximately 5.4% annually. These levels support consistent underwriting for apartment loans in Virginia where Naval Air Station Oceana and Joint Base Little Creek-Fort Story demand anchor year-round absorption.
Virginia Beach Apartment Loan Supply and Demand in 2026
Virginia Beach carries one of the tightest vacancy profiles of any major Virginia metro, with the Virginia Beach-Norfolk-Newport News MSA vacancy at approximately 4.7%, down approximately 7.84% year-over-year and well below the national average of 7.0%. Virginia Beach's tighter-than-average occupancy throughout the post-pandemic period meant operators never needed to resort to rent cuts, unlike many other large markets. Approximately 47% of Virginia Beach's rental stock was built between 1970 and 1989, with the 1980s vintage representing approximately 26% of all units and the 1970s approximately 21%, creating a deep value-add renovation base. Two-bedroom units make up the largest share at approximately 43% of all units, consistent with the military family and workforce renter orientation. The market's five-year pre-pandemic average effective rent growth was approximately 1.8% annually, and the current approximately 5.5% growth confirms exceptionally strong demand relative to constrained supply. For borrowers pursuing apartment building financing in Virginia, Virginia Beach's #1 U.S. rent growth ranking, approximately 4.7% vacancy, and permanent military installation demand support one of Virginia's most favorable underwriting environments.
Opportunities for Apartment Investment in Virginia Beach
Investors pursuing a Virginia apartment loan in Virginia Beach in 2026 are focused on stable income and long-term demand from NAS Oceana and Joint Base Little Creek-Fort Story where BAH-supported military household renter demand at approximately $92,968 median household income anchors consistent rent capacity with exceptional lease stability, value-add acquisitions in the large 1970s and 1980s vintage stock where approximately 5.5% year-over-year rent growth and below-replacement-cost entry pricing deliver the most compelling repositioning returns in Virginia, and stabilized premium holds near the Oceanfront and Town Center where tourism-driven professional demand supports premium pricing. Virginia Beach's nearly 10-year streak of no annual rent cuts is the strongest income stability track record of any major Virginia market. For Virginia apartment lenders evaluating the state's largest city, Virginia Beach offers permanent military installation demand, the nation's #1 current rank for year-over-year rent growth, and approximately 4.7% vacancy well below national norms that supports strong long-term performance for apartment building loans throughout the metro.
Why Choose Select Commercial for Apartment Loans
What sets Select Commercial apart from traditional lenders and large banks? In this short video, we highlight the key reasons apartment building investors choose to work with us for Virginia apartment loans between $1.5 million and $6 million. We also actively finance multifamily loans exceeding $6 million.
Here's what the video touches on:
- No upfront application or processing fees
- Fast written pre-approvals often within 24 hours
- Access to a wide range of apartment lenders, not just one bank
- Loan structures tailored to your property and investment goals
Apartment Property Types We Finance in Virginia
At Select Commercial, we arrange financing for a wide range of Virginia apartment buildings, from smaller 5+ unit walkups to large portfolios of rental properties. Whether your property is urban, suburban, or mixed-use, we can help you secure the right loan structure based on your investment goals.
- Urban mid-rise and high-rise apartment buildings
- Suburban garden-style apartment complexes
- Small apartment buildings with 5+ units
- Mixed-use properties with residential and limited commercial space
- Underlying co-op apartment building loans
- Portfolios of small apartment or single-family rental properties
- Stabilized buildings with strong cash flow and rent history
If you're not sure whether your property qualifies, contact us for a free quote and we'll review your deal and let you know within 24 hours.
Recent Apartment Loan Closings
Why Virginia Borrowers Choose Select Commercial
Thousands of apartment building investors trust Select Commercial for our direct, transparent approach and proven expertise in the Virginia apartment loan market. We're not just brokers, we provide personalized service, fast answers, and access to top institutional lenders without the bureaucracy of traditional banks.
- Over 30 years of apartment loan experience with a national platform
- No upfront fees and fast pre-approvals, often within 24 hours
- Direct access to top lenders offering aggressive terms
- Dedicated support from quote to closing
Want to see why so many clients return to us for their next deal? Start with a free quote – we'll review your scenario and respond quickly.
Our Reviews
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a renowned expert in the field of multifamily financing. His insights and perspectives are regularly sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.
Navigating Opportunity, Risk as 2025 Winds Down
In an article for Commercial Property Executive titled "Navigating Opportunity, Risk as 2025 Winds Down", Sobin explains as we head into the final stretch of 2025, the commercial real estate industry stands at a pivotal moment. After several years of upheaval—from pandemic disruptions to aggressive Federal Reserve rate hikes and lasting shifts in how people live and work—the sector is entering a new phase.
Why Lower Rates Haven't Fixed Commercial Real Estate
In an article for Wealth Management titled "Why Lower Rates Haven't Fixed Commercial Real Estate", Sobin explains that even as the Federal Reserve has begun cutting rates and borrowing costs should be falling, the commercial real estate sector remains locked in a frustrating stalemate. For high-net-worth investors trying to time the market, he emphasizes that understanding this disconnect requires looking beyond the headlines.
Why the Fed Rate Cut’s a Game Changer for CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that after months of speculation and market anticipation, the Federal Reserve finally pulled the trigger last week, cutting the federal funds rate by 25 basis points to 4.00 to 4.25 percent. read the full article.
Inflation's Current Impact on Apartment
In an article featured in Multi-Housing News, Sobin explains how commercial mortgage rates continue to challenge investors, with elevated inflation depressing real estate market activity. Read the full article.
Will the July Jobs Report Pressure the Fed to Act?
Sobin noted in Multi-Housing News that unemployment hit a three-year high and job creation slowed significantly, factors that could push the Fed to reconsider future rate hikes. Read the full article.
Persistent Inflation and Its Effects on CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that while inflation is still a challenge for the Federal Reserve, there are many positive signs for the commercial real estate industry. The headline Consumer Price Index rose 3.2 percent for the year ended Feb. 29, a figure 20 basis points lower than the Dec. 31, 2023, rate. read the full article.
Commercial Spotlight: Mid-Atlantic Region In this four-state powerhouse, smaller metros are thriving.
In a feature in Scotsman Guide, the Mid-Atlantic Region's real estate dynamics are explored, highlighting its resilience and growth amidst the pandemic.
Stephen Sobin of Select Commercial Funding LLC shared insights on the New York market's allure and the challenges buyers face. He noted the shift from primary urban areas to tertiary markets due to evolving preferences and financial conditions. For a deeper dive into Sobin's analysis, read the full article.
What the New Jobs Report Means for CRE
In an article titled "What the New Jobs Report Means for CRE" in Commercial Property Executive, Stephen Sobin shared his perspective on the latest jobs report and its implications for the Commercial Real Estate (CRE) sector. He highlighted the challenges posed by high interest rates and the prevailing uncertainty in the market. Sobin remarked, "Sellers aren’t selling, buyers aren’t buying... Everyone is waiting because no one knows what to expect." For a detailed analysis and more of Sobin's insights, read the full article.
Decoding "Junk Fees" in Rental Housing
In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.
Understanding the Impact of Federal Reserve's Decisions
In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.
Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.
Frequently Asked Questions About Virginia Apartment Loans
As of May 9, 2026, Select Commercial offers Virginia apartment loan rates starting as low as 5.73% on 5, 7, and 10-year fixed-rate options for apartment properties valued between $1.5 million and $6 million. Final rates depend on loan-to-value ratio (LTV), debt service coverage ratio (DSCR), borrower credit and experience, and current market conditions. View the full Virginia apartment loan rate table above for current pricing across loan terms.
Most lenders require a debt service coverage ratio (DSCR) of at least 1.25, good borrower credit, sufficient net worth and liquidity, and prior real estate ownership experience. Loan-to-value (LTV) ratios typically range from 65% to 80% depending on the loan program and current market conditions. Properties with strong occupancy and clean operating financials qualify for the most favorable Virginia apartment loan terms.
Most apartment lenders in Virginia require a 20% to 25% down payment. Your final loan-to-value ratio will be determined by the property's debt service coverage ratio (DSCR), occupancy, location, and overall financial performance.
A qualified broker like Select Commercial can present your loan to many different capital sources, including banks, credit unions, CMBS conduits, agency lenders (Fannie Mae and Freddie Mac), life insurance companies, and private funds. This multi-source approach increases the odds of approval and helps you secure the most favorable rates and terms available across the Virginia apartment lender market.
The process starts with gathering financials including a current rent roll, trailing 12-month income and expense statement, borrower resume, and a personal financial statement. A mortgage broker will analyze your documents and match you with the best lending program for your Virginia apartment property. Start with a Free Quote today.
Select Commercial is a leading provider of competitive Virginia apartment loan rates for properties valued between $1.5 million and $6 million. Through our access to Fannie Mae Small Loan, Freddie Mac SBL, CMBS, life insurance company, bank, and credit union capital, we consistently match borrowers with the lowest available rate and best terms for their specific apartment property. As of May 9, 2026, our Virginia apartment loan rates start as low as 5.73%.
Yes. While this page focuses on apartment loans under $6 million, Select Commercial also arranges larger balance loans for qualified borrowers. Visit our Virginia multifamily loan page for options over $6 million.
Agency Small Balance Apartment Loan Programs
Select Commercial connects borrowers with top-tier agency small balance loan programs in addition to bank and private capital options. Featured programs include:
- Fannie Mae® Small Loan Program – For apartment properties with 5+ units and loan sizes from $1 million to $6 million
- Freddie Mac® Small Balance Loan (SBL) Program – Streamlined financing solutions up to $6 million
- Loans Over $6 Million – Explore large-balance apartment loan programs in Virginia
These agency-backed options offer competitive fixed rates, non-recourse terms, and simplified underwriting for qualified apartment investors.
Virginia Apartment Building Financing
Select Commercial provides apartment building financing and Virginia commercial mortgages throughout the state of Virginia including but not limited to the areas below.