Virginia Beach, Virginia
Virginia Beach Apartment Loans in 2026
Because the City Real Estate Assessor revalues every parcel each year, Virginia Beach apartment loans are underwritten against a tax line that moves annually, along with flood zones and Oceanfront zoning. We place loans from $1,500,000, leverage can go to 80% LTV, and a fully leased building can price from 6.12%. Agency, bank, HUD, conduit and bridge sources all bid before we recommend one, and the written lender terms you receive come without application or processing fees. Check commercial mortgage rates by loan program, use Virginia Beach multifamily loans for bigger complexes, and see Virginia apartment loans for buildings elsewhere in the state.
Get a Free QuoteVirginia Beach Apartment Demand Against a Flat Metro Payroll
September 2026 brought the Virginia Beach-Chesapeake-Norfolk metro area 832,900 nonfarm jobs, 0.2% under the prior September in BLS's preliminary count, which is not seasonally adjusted; in April the gap was 0.8%, and in May 0.9%. Education and health services payrolls rose 2.5%, with leisure and hospitality close behind at 2.4%; government shed 1.9% and manufacturing 5.3%. Census estimates show 453,737 people living in Virginia Beach as of July 2025, against 459,470 in 2020, while 2020-2024 survey data show 65.1% of occupied homes owned rather than rented.
HUD's newest full market analysis, dated November 1, 2024, judged the wider rental market slightly soft, with 6.6% apartment vacancy as of 2024's third quarter. Its Virginia Beach market area, a CoStar Group-defined area that is home to four military installations, ran tighter at 4.7%, as 1,025 market-rate units were absorbed against 650 completions, and average rent there rose 2% to $1,658.
Rents, Bases and the Atlantic Park Project
Apartment List's October 2026 numbers have Virginia Beach at a $1,959 median, an 8.6% climb over the year, versus 0.5% statewide and -0.4% across the U.S. RentCafe, tracking all 50-plus-unit buildings in the city, logged $1,833 as the September 30, 2026 average, 5.72% more than the prior year's $1,734.
The city's economic development site lists NAS Oceana, with its Dam Neck Annex and NALF Fentress, at 16,450 active-duty and civilian personnel and Joint Expeditionary Base Little Creek-Fort Story at 15,472, and its 2025 employer list adds Sentara Healthcare (4,900), GEICO (3,600) and STIHL's North American headquarters (3,300). At the Oceanfront, the $350 million Atlantic Park opened its 3,500-seat Dome in May 2025 and includes more than 300 apartments. Those payrolls are the renter base lenders weigh.
Virginia Beach Apartment Loan Rates
Rates updated as of November 4, 2026
Coastal insurance costs and an assessment that resets every year both shape a Virginia Beach apartment loan's final pricing. The figures below presume a stabilized property carrying routine coverage.
| 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 Virginia Beach Multifamily Rates Over $6 Million, Starting at 6.12%
Rates last updated November 4, 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.
Virginia Beach Lending Areas From Little Neck to Pungo
Windsor Woods, Princess Anne Plaza and The Lakes, which the city says flooded severely in Hurricane Matthew in 2016, share the flood program's mega bundle of seven large-scale projects, with early construction scheduled for the third quarter of 2026. Seatack's drainage project was completed in March 2026. The 1,200-acre Pembroke growth area is home to Town Center, Little Neck's residential assessments rose 10.69% on average for FY2027, and RentCafe's averages put Thalia at $1,769 and Green Run at $1,607.
Apartment financing we arrange reaches these Virginia Beach neighborhoods:
- Oceanfront
- Town Center
- Sandbridge
- Great Neck
- Little Neck
- Lynnhaven
- Thalia
- Kempsville
- Green Run
- Windsor Woods
- Princess Anne Plaza
- The Lakes
- Aragona Village
- Seatack
- Croatan
- Red Mill
- Pungo
How Each Lender Type Treats a Virginia Beach Building
Since the city values property again every year, lenders price Virginia Beach apartment loans against the newest assessment as well as the rent roll. Where each program starts:
| 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 |
Each $1,000,000 of assessed value costs $9,700 a year in Virginia Beach real estate tax under the FY2027 general rate ($0.97 per $100), and the customary 1.25x coverage test comes after that bill and any flood premium. Larger complexes belong with Virginia Beach multifamily loans.
Rates last updated November 4, 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.
Assessments, Trustee Sales, Flood Bonds and Rental Zoning in Virginia Beach
A fresh value every year. The Virginia Beach Assessor is required by law to reassess all real estate every year, and Virginia Code 58.1-3201 has annual assessments made "at 100 percent fair market value." FY2027 values capture the change from January 1, 2025 to January 1, 2026; notices go out by March 1, assessor hearings run through April 30 and Board of Equalization applications are due by June 30. The FY27 rate is $0.97 per $100, billed by the City Treasurer in two parts.
Apartments led the FY2027 roll. Taxable property reached $92.3 billion, up 6%, and apartments posted the highest growth, a 6.5% median, which the Assessor ties to "strong demand for rental housing." Apartments, assessed at about $7.74 billion, are 8.4% of the total. Special service districts list their own rates, such as $1.42 per $100 in Central Business District South, and the Atlantic Park CDA district carries an additional $.25 levy beginning in FY26.
Trustee auctions after default. Virginia Code 55.1-320, which governs unless the deed of trust provides otherwise, has the trustee, at a beneficiary's request after a default, declare the debt due, after which the trustee may sell at auction at the property, in front of the circuit court building or elsewhere in the city. Section 55.1-321 calls for written notice to the owner; certified or registered mail sent no less than 14 days ahead of the auction (60 for owner-occupied residential property) satisfies it, and Section 55.1-322 sets the sale no earlier than eight days after the first advertisement and no later than 30 days after the last.
Flood bonds and insurance. Virginia Beach voters backed a November 2, 2021 referendum allowing up to $567,500,000 in general obligation bonds for flood mitigation, and the city calls the program a comprehensive 10-year plan. FEMA declared major disasters covering the city for Hurricanes Isabel (2003), Irene (2011) and Matthew (2016). Flood insurance is mandatory for an A- or V-zone building carrying a government-backed mortgage, NFIP policies stop at $500,000 of building coverage for structures housing five or more families, and the city's Class 7 rating in FEMA's Community Rating System, recertified yearly, cuts premiums.
Where nightly rentals are allowed. A short-term rental, meaning an entire dwelling rented for less than 30 consecutive days, is eligible anywhere in the Sandbridge Special Service District; new registrations in the Oceanfront Resort STR Overlay District need a conditional use permit, and rentals registered before July 1, 2018 with transient occupancy taxes paid are grandfathered. Each address also needs an annual $500 zoning permit and one parking space per bedroom.
Financing Options in Virginia Beach
Match your Virginia Beach property to the financing page built for it:
Also own property in Richmond or Roanoke? Those buildings go through Virginia apartment loans.
Virginia Beach Refinancing With a New Assessment Every Year
Because every Virginia Beach building is revalued yearly, a refinance is underwritten on the FY2027 assessment, not the purchase figure, and with apartments up a 6.5% median this cycle, an older tax bill can understate expenses. If the value looks out of line with income, the FY2028 notice, due by March 1, 2027, opens the next appeal window.
Apartment List clocked an 8.6% twelve-month citywide rent gain in October 2026, yet lenders size loans on what the building collects. In Windsor Woods, Princess Anne Plaza or The Lakes, expect flood-zone and premium questions while the mega bundle moves toward construction, and units rented by the night need current zoning permits.
Virginia Beach Apartment Building Loans, Oceanfront to Kempsville
The Assessor counts 41,827 apartment units in multifamily complexes beside about 100,000 single-family homes. Typical Virginia Beach collateral includes:
- Mid-rise buildings in the Oceanfront resort area
- Garden-style apartment complex properties
- Mixed-use buildings at Town Center
- Rentals near NAS Oceana and Little Creek-Fort Story
- Workforce and income-restricted housing
- Smaller rentals of five units and up
When a Virginia Beach Complex Outgrows Bank Debt: Multifamily Options
On bigger Virginia Beach communities, the agency route (Fannie Mae, Freddie Mac) tops out at 80% LTV, with terms no longer than 30 years, and holds the borrower's personal exposure to the usual carve-outs. Longest amortization belongs to HUD, where Fannie Mae's FHA Risk Share sheet lists full payoff within 40 years. Conduit loans (CMBS) are non-recourse, while bank loans bend more on structure and often carry recourse.
A lender on a large complex here will verify flood coverage, the latest reassessed tax bill and any special district or Atlantic Park CDA levy. Details sit on Virginia Beach multifamily loans, with separate pages on each agency: Freddie Mac and Fannie Mae.
Virginia Beach Multifamily Loan Rates
For larger balances, over $6 million
Resort Hotels to Warehouses: Virginia Beach Commercial Loans
Virginia Beach owners with hotels, offices, medical space or industrial buildings can put those through the same lender comparison:
Nearby Apartment Loan Markets
Norfolk, in the same HUD housing market area, has its own page; so do Virginia as a whole and other U.S. cities:
Recent Apartment Loan Closings
Out-of-state loans make up the closings below; a Virginia Beach request would go through the identical comparison of competing lenders.
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 Virginia Beach Apartment Loan Quote
To underwrite a Virginia Beach property, lenders need the unit-level rent roll, the past year's income and expenses, the FY2027 assessment notice and current tax bill, the property's FEMA flood zone, flood and wind policy declarations and, for any nightly rentals, zoning permits. Written lender terms follow.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up