Multifamily & Apartment Financing in Maine

Commercial Loan Direct (CLD) provides apartment loans in Maine. Current apartment loan rates in Maine range from 4.93% to 12.95%, depending on the loan program.

Maine Apartment Loan Rates

Loan Types Rates LTV Loan Amount
Fannie Mae 5.66% - 6.46% 80% $700,000+
Freddie Mac 5.96% - 9.43% 80% $1,000,000+
FHA 4.84% - 6.19% 83.3% $5,000,000+
Conduit / CMBS 5.81% - 7.74% 75% $2,000,000+
Insurance 5.31% - 8.59% 75% $5,000,000+
USDA 6.2% - 8.95% 85% $1,000,000+
Bridge 5.95% - 12.95% 80% $1,500,000+
Construction 5.7% - 8.95% 83.3% $1,000,000+
Conventional 4.93% - 8.95% 80.0% $1,000,000+

For more in-depth multifamily interest rates, please visit our Apartment Loan Rates page.

Note: The commercial mortgage rates displayed in this website should be used as a guideline and do not represent a commitment to lend. Commercial Loan Direct and CLD Financial, LLC are not liable for any commercial mortgage interest rate or data entry errors that might affect the displayed commercial loan rates. Commercial loan rates may change at any time and without notice.

Additional Multifamily Types

Additional Multifamily Mortgages

Locations Served in Maine

We are proud to be serving the state of Maine. Here are our commercial loan statistics for this state.

Maine Cities and Towns Served

26

Maine Multifamily Financing Landscape

Maine’s multifamily market is shaped by seasonal demand, a mix of small-balance properties in secondary cities, and lending that often prioritizes stability of income over aggressive rent-growth projections. For borrowers, the best execution usually comes down to three things: deal size, property condition, and how “financeable” the rent roll is (occupancy, collections, and lease quality).

Common Loan Types You’ll See

  • Agency (Fannie Mae / Freddie Mac): Often the go-to for stabilized multifamily with strong occupancy and clean financials. Typically favors durable cash flow and market support more than a “story deal.”
  • Bank / Credit Union: Very common in Maine, especially for smaller multifamily. These lenders may like local sponsorship, conservative leverage, and relationship deposits.
  • Debt Funds / Bridge: Used when a property needs work, has vacancy, or is in transition. Pricing is usually higher, but underwriting can be more flexible if the value-add plan is credible.
  • HUD / FHA: Can be attractive for longer-term, fixed-rate financing on qualifying properties, but timelines and process can be heavier. Best when the borrower can plan ahead.
  • State / Local & Affordable Housing Programs: For projects with affordability components, there may be layered capital options. These can reduce cost of capital but add compliance and documentation requirements.

What Lenders Underwrite Closest

  • Occupancy & collections: Consistent performance matters, and volatility raises pricing or reduces leverage.
  • Unit mix and rent roll quality: A clean, well-documented rent roll can materially improve lender confidence.
  • Property condition: Deferred maintenance can push a deal from agency/bank into bridge territory.
  • Expense reasonableness: Utilities, heating costs, snow removal, and maintenance can be closely scrutinized.
  • Insurance & replacement reserves: Costs can be meaningful; lenders may require reserves or updated coverage assumptions.
  • Borrower liquidity and net worth: Especially on smaller multifamily, sponsor strength can carry a deal.

Leverage, Terms, and Structure Trends

In today’s environment, many lenders prefer moderate leverage and strong debt coverage. Stabilized deals usually get the best rates and longest terms, while transitional properties often need shorter maturities with extension options and an expectation of refinance after improvements.

  • Stabilized properties: Better pricing, longer amortization, and more predictable execution.
  • Value-add / transitional: Higher rates, interest-only periods may exist, but underwriting is more sponsor- and plan-driven.
  • Smaller loan sizes: Often bank-driven; underwriting can be more relationship-based and market-specific.

Challenges That Can Slow Approvals

  • Incomplete financials: Missing trailing-12, inconsistent statements, or unclear add-backs can delay approvals.
  • Unit condition issues: If inspections reveal major repairs, lenders may require escrowed repairs or a different loan product.
  • Concentration risk: Very small properties (few units) can be viewed as higher risk because one vacancy impacts cash flow more.
  • Title, zoning, or code questions: Any uncertainty tends to trigger deeper diligence and longer timelines.

How to Position a Maine Multifamily Deal for Better Terms

The fastest path to strong terms is a lender-ready package: a clean rent roll, trailing financials, a clear capex plan (if any), and a tight story that matches the property’s current reality. If the deal has a value-add angle, be specific—scope, budget, timeline, and how the improvements translate into income.

  • Provide clean documentation: Rent roll, T-12, last two years, and a realistic pro forma.
  • Be conservative on income: Overly aggressive rent growth assumptions often backfire in underwriting.
  • Clarify capex: Itemized bids or credible budgets reduce lender uncertainty.
  • Show sponsor strength: Liquidity, experience, and property management plan matter.

Bottom Line

Maine multifamily financing is typically strongest for stabilized properties with verifiable cash flow. Transitional deals can still get done, but they usually require the right loan product and a more detailed business plan. Align the lender type with the property’s reality—stabilized goes long-term, transitional goes bridge—and the process is faster, cleaner, and usually cheaper.

Lending Cities

Commercial loan direct provides services in the following Maine cities. Please note we may be able to provide services in other cities as well by request. Rates are dependent on the market in your locale, feel free to use the provided Maine economic reports to get a better understanding of your market.

  • Acton
  • Addison
  • Albion
  • Alfred
  • Androscoggin County
  • Appleton
  • Aroostook County
  • Arundel
  • Auburn
  • Augusta
  • Bangor
  • Bar Harbor
  • Bath
  • Belfast
  • Belgrade
  • Benton
  • Berwick
  • Bethel
  • Biddeford
  • Boothbay
  • Boothbay Harbor
  • Bradford
  • Bradley
  • Brewer
  • Bridgton
  • Bristol
  • Brooks
  • Brownfield
  • Brownville
  • Brunswick
  • Buckfield
  • Bucksport
  • Burnham
  • Buxton
  • Calais
  • Camden
  • Canaan
  • Canton
  • Cape Neddick
  • Caribou
  • Carmel
  • Castine
  • Charleston
  • Chelsea
  • Cherryfield
  • Chesterville
  • China
  • Chisholm
  • Clinton
  • Corinna
  • Cornish
  • Cornville
  • Cumberland Center
  • Cumberland County
  • Cushing
  • Damariscotta
  • Dayton
  • Dedham
  • Deer Isle
  • Denmark
  • Dexter
  • Dixfield
  • Dixmont
  • Dover-Foxcroft
  • East Machias
  • East Millinocket
  • Easton
  • Eastport
  • Eddington
  • Edgecomb
  • Eliot
  • Ellsworth
  • Enfield
  • Etna
  • Fairfield
  • Falmouth
  • Falmouth Foreside
  • Farmingdale
  • Farmington
  • Fayette
  • Fort Fairfield
  • Fort Kent
  • Frankfort
  • Franklin
  • Franklin County
  • Freeport
  • Frenchville
  • Friendship
  • Fryeburg
  • Gardiner
  • Garland
  • Gorham
  • Gouldsboro
  • Greenbush
  • Greene
  • Greenville
  • Hallowell
  • Hampden
  • Hancock
  • Hancock County
  • Harpswell Center
  • Harrison
  • Hartford
  • Hebron
  • Hermon
  • Hiram
  • Hodgdon
  • Holden
  • Hollis Center
  • Hope
  • Houlton
  • Howland
  • Hudson
  • Jay
  • Jefferson
  • Jonesport
  • Kenduskeag
  • Kennebec County
  • Kennebunk
  • Kennebunkport
  • Kingfield
  • Kittery
  • Kittery Point
  • Knox County
  • Lake Arrowhead
  • Lebanon
  • Leeds
  • Levant
  • Lewiston
  • Limerick
  • Limestone
  • Limington
  • Lincoln
  • Lincoln County
  • Lincolnville
  • Lisbon
  • Lisbon Falls
  • Livermore
  • Livermore Falls
  • Lovell
  • Machias
  • Machiasport
  • Madawaska
  • Madison
  • Manchester
  • Mechanic Falls
  • Medway
  • Mexico
  • Milbridge
  • Milford
  • Millinocket
  • Milo
  • Minot
  • Monmouth
  • Mount Vernon
  • New Gloucester
  • New Sharon
  • Newfield
  • Newport
  • Nobleboro
  • Norridgewock
  • North Bath
  • North Berwick
  • North Windham
  • Northport
  • Norway
  • Oakland
  • Ogunquit
  • Old Orchard Beach
  • Old Town
  • Orland
  • Orono
  • Orrington
  • Owls Head
  • Oxford
  • Oxford County
  • Palermo
  • Palmyra
  • Paris
  • Parsonsfield
  • Patten
  • Penobscot
  • Penobscot County
  • Peru
  • Phillips
  • Phippsburg
  • Piscataquis County
  • Pittsfield
  • Pittston
  • Plymouth
  • Poland
  • Porter
  • Portland
  • Presque Isle
  • Randolph
  • Raymond
  • Readfield
  • Richmond
  • Rockland
  • Rockport
  • Rome
  • Rumford
  • Sabattus
  • Saco
  • Sagadahoc County
  • Saint Albans
  • Saint George
  • Sanford
  • Sangerville
  • Scarborough
  • Searsmont
  • Sedgwick
  • Shapleigh
  • Sidney
  • Skowhegan
  • Somerset County
  • South Berwick
  • South Eliot
  • South Paris
  • South Portland
  • South Portland Gardens
  • South Sanford
  • South Thomaston
  • South Windham
  • Springvale
  • Steep Falls
  • Stetson
  • Steuben
  • Stockton Springs
  • Stonington
  • Strong
  • Sullivan
  • Surry
  • Swanville
  • Thomaston
  • Topsham
  • Tremont
  • Trenton
  • Troy
  • Turner
  • Union
  • Van Buren
  • Vassalboro
  • Veazie
  • Vinalhaven
  • Waldo County
  • Waldoboro
  • Warren
  • Washington
  • Washington County
  • Waterboro
  • Waterville
  • Wayne
  • Wells Beach Station
  • West Kennebunk
  • West Paris
  • West Scarborough
  • Westbrook
  • Whitefield
  • Wilton
  • Windsor
  • Winslow
  • Winterport
  • Winthrop
  • Wiscasset
  • Woodstock
  • Woolwich
  • Yarmouth
  • York Beach
  • York County
  • York Harbor

Commercial Loan FAQs in Maine

Multifamily interest rates in Maine vary based on loan type, property type, loan-to-value, debt service coverage ratio, borrower strength, and market conditions. They range from approximately 4.93% to 12.95%.

Borrowers in Maine can access Conventional, CMBS/Conduit, Insurance, FHA/HUD, USDA, Bridge, Construction, and SBA financing based on property type, leverage, and occupancy.

Multifamily loan rates in Maine depend on loan type, property cash flow, debt service coverage ratio, loan-to-value, borrower strength, and market conditions.

Yes. Owner-occupied financing is available in Maine, including Conventional, Insurance, SBA, USDA, and selected agency programs when eligibility requirements are met.

Yes. Refinance options in Maine include rate-and-term and cash-out structures, subject to underwriting, property performance, and lender program guidelines.

Get A Free Quote

Get a free commercial loan quote. This process does not affect your credit score.

Please put your first name here.
Please put your last name here.
Please put your email here.
Please put your phone number here.
Please select a property type.

Was this page helpful?

What Clients Say About Us

Our Reviews

Unfiltered Reviews
Fernando and Leanne are Amazing

Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever

- Nirav Patel

She Took Care of All My Needs

If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.

- Vincent Arias

Commercial Loan Direct Streamlined the Whole Process

We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them

- Rita Pisarski