Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Virginia Beach, Virginia
Virginia Beach Apartment Loans in 2026
Select Commercial specializes in Virginia Beach 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 Virginia apartment loans; for loans over $6 million, see Virginia Beach multifamily loans. See current rates on every loan type we offer.
Get a Free QuoteFinancing Options in Virginia Beach
Virginia Beach apartment, multifamily and commercial properties each have dedicated financing. Pick the page that matches your property:
Financing more of the state? See Virginia apartment loans.
Financing in another state? Explore our apartment loans, multifamily loans and commercial mortgages nationwide.
Virginia Beach 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 17, 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 Virginia Beach Apartment Loan Programs
As a broker, we compare every program to find your best-fit Virginia Beach 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 Virginia Beach multifamily loans.
2026 Virginia Beach Apartment Loan Market: Virginia Beach Rents Climb as Hampton Roads Vacancy Tightens and New Supply Slows
Virginia Beach is the largest city in the Hampton Roads metro, also known as Virginia Beach-Norfolk-Newport News, and its apartment market has strengthened as elevated deliveries are steadily absorbed. Declining vacancy and a cooling construction pipeline are supporting continued rent growth across the region. Coastal demand and a diversified employment base keep the market attractive to renters and investors alike.
Employment
Total nonfarm employment across the Virginia Beach-Chesapeake-Norfolk metro reached about 816,900 jobs as of late 2025, and the region has averaged roughly 1,000 new jobs per month over the past five years. The area added about 1,700 jobs in January 2026 after a brief year end dip.
Construction and supply
After a 2024 peak, apartment deliveries across Hampton Roads were projected at about 2,250 units in 2025, and permitting has already pulled back sharply. With relatively few units still under construction, incremental supply pressure is expected to ease through 2026.
Vacancy
Vacancy across the Hampton Roads apartment market tightened to about 5.2 percent, improving roughly 40 basis points year over year as new supply was absorbed. The rate is forecast to settle near 5.2 percent, keeping conditions in the low to mid 5 percent range.
Rent trend
Average asking rents across the region topped 1,650 dollars per month, advancing more than 3.0 percent year over year. Over the past five years rents have climbed at an average pace of about 5.1 percent annually.
2026 Virginia Beach forecast at a glance:
- A cooling development pipeline should support firmer occupancy through 2026
- Rent growth is expected to stay above the national pace as new supply tightens
- Continued absorption of recent Class A deliveries should keep top tier vacancy stable
- Steady coastal demand and job gains should sustain investor interest in the market
Virginia Beach Multifamily Loans (Over $6 Million)
For larger Virginia Beach 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 Virginia Beach 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.
Virginia Beach Apartment Loan Types We Serve
Whether you are purchasing or refinancing a Virginia Beach 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 Virginia Beach
As a full-service commercial mortgage broker, we arrange Virginia Beach financing across every major property and loan type:
We consider commercial loan requests of all sizes, beginning at $1,500,000.
Virginia Beach Neighborhoods We Serve
Select Commercial provides apartment loans throughout Virginia Beach, Virginia and the surrounding area, including:
- Oceanfront
- Town Center
- Sandbridge
- Great Neck
- Kempsville
- Hilltop
- Bayside
- Red Mill
- Pungo
- Thalia
- Lynnhaven
- Princess Anne
- Green Run
- Windsor Woods
- Aragona Village
- Croatan
- North End
- Little Neck
For other cities in the state, see Virginia 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 Virginia Beach Apartment Loan Quote
No cost, no obligation. Written answers within 48 hours on Virginia Beach 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