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Multifamily & Apartment Financing in Massachusetts

Commercial Loan Direct (CLD) provides commercial real estate loans in Massachusetts. Current commercial loan rates in Massachusetts range from 4.99% to 12.75% depending on the loan program.

Massachusetts Apartment Loan Rates

Loan Types Rates LTV Loan Amount
Fannie Mae 5.46% - 6.26% 80% $700,000+
Freddie Mac 5.76% - 9.23% 80% $1,000,000+
FHA 4.87% - 6.22% 83.3% $5,000,000+
Conduit / CMBS 5.63% - 7.56% 75% $2,000,000+
Insurance 5.13% - 8.4% 75% $5,000,000+
USDA 6% - 8.75% 85% $1,000,000+
Bridge 5.75% - 12.75% 80% $1,500,000+
Construction 5.5% - 8.75% 83.3% $1,000,000+
Conventional 4.99% - 8.75% 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 affectthe displayed commercial loan rates. Commercial loan rates may change at any time and without notice.

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Massachusetts Interest Rates starting at 4.99%. Tell us about your property and financing goals. We will match your request with lending options based on program fit and current market conditions.

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Additional Multifamily Types

Additional Multifamily Mortgages

Locations Served in Massachusetts

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

Massachusetts Cities and Towns Served

98

Maryland Multifamily Financing Landscape

Maryland’s multifamily market is shaped by a blend of high-cost submarkets, institutional demand pockets, and a strong presence of regulatory and policy considerations that can influence underwriting. Lenders often focus on income stability, expense reality, and location resilience, especially in areas where taxes, insurance, and compliance requirements can materially impact net operating income.

Common Loan Types You’ll See

  • Agency (Fannie Mae / Freddie Mac): Common for stabilized multifamily with strong occupancy and consistent collections. Execution is typically strongest when the property is clean operationally and the rent roll is well supported.
  • Bank / Credit Union: Often competitive for smaller-to-mid-size assets, especially with relationship banking. Many lenders lean on conservative leverage and strong sponsor profiles.
  • CMBS: Can fit larger stabilized assets when borrowers want structure flexibility. It tends to favor predictable cash flow and strong third-party reporting.
  • Debt Funds / Bridge: Used for repositioning, renovations, lease-ups, or operational fixes. Higher cost is common, but these lenders can be more flexible on transition risk.
  • HUD / FHA: Attractive for long-term, fixed-rate financing on qualifying properties, though timelines and process are heavier. Best for borrowers who can plan and tolerate more documentation.
  • Affordable / LIHTC & Public Financing: For projects with affordability requirements, layered capital can reduce cost of funds, but adds compliance and reporting obligations.

What Lenders Underwrite Closest

  • Submarket and demand drivers: Proximity to strong employment anchors and stable renter demand matters.
  • Regulatory exposure: Lenders often assess any local rules that affect rent growth, fees, or operations.
  • Property taxes and insurance: Underwriting may “stress” these line items due to variability and reassessment risk.
  • Occupancy & collections: Consistent performance supports long-term financing; softness usually pushes toward bridge.
  • Capital needs: Deferred maintenance can require reserves, repair escrows, or a different loan structure.
  • Sponsor strength: Liquidity, net worth, and track record can materially influence leverage and pricing.

Leverage, Terms, and Structure Trends

Maryland multifamily execution often hinges on whether the asset is stabilized or transitional. Stabilized assets with solid financials typically get better pricing and longer terms, while transitional deals often require shorter maturities with extension options and a clear takeout strategy.

  • Stabilized properties: Longer terms, more predictable closing process, and better pricing when documentation is strong.
  • Value-add / transitional: Higher rates, more lender scrutiny on capex, and tighter controls around draws and timelines.
  • Smaller properties: Often relationship-bank driven; lender comfort rises with sponsor experience and liquidity.

Maryland-Specific Factors That Can Matter

  • Compliance and reporting: Some deals require added documentation due to local or program rules.
  • Rent growth constraints: Where rent increases are limited or politically sensitive, lenders may underwrite more conservatively.
  • High replacement costs: Lenders may require stronger reserves to protect long-term property condition.
  • County-by-county variability: Taxes, permitting, and operational requirements can differ materially across jurisdictions.

Challenges That Can Slow Approvals

  • Incomplete financial package: Missing T-12, unclear add-backs, weak rent rolls, or poor expense detail.
  • Underestimated expenses: Property tax, insurance, and repairs are common “gap” items that can reduce proceeds.
  • Unclear renovation plan: Vague scope or no bids can reduce lender confidence and push a deal to more expensive capital.
  • Regulatory uncertainty: If rules affecting operations are unclear, lenders may require deeper diligence and more time.

How to Position a Maryland Multifamily Deal for Better Terms

To maximize lender options in Maryland, you want a package that proves income durability and removes underwriting surprises. If the asset is value-add, the plan must be specific: scope, budget, timeline, and how improvements translate into verifiable rent premiums or occupancy gains.

  • Provide clean documentation: Rent roll, T-12, trailing collections, and a realistic pro forma.
  • Be conservative on taxes and insurance: Use credible assumptions to avoid retrades late in the process.
  • Itemize capex: Bids, contingency, draw schedule, and timeline tied to unit turns and leasing velocity.
  • Show operational plan: Property management approach, leasing strategy, and expense control measures.

Bottom Line

Maryland multifamily financing is strongest for stabilized assets with clean financials and realistic expense assumptions, with agencies and banks often providing the best execution. Transitional deals are financeable, but typically require bridge-style structures and a credible path to stabilization and refinance. Align the lender type with the property’s true condition and performance, and you’ll usually get faster approvals and better terms.

Lending Cities

Commercial loan direct provides services in the following Massachusetts 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.

Commercial Loan FAQs in Massachusetts

Multifamily interest rates in Massachusetts vary based on loan type, property type, loan-to-value, debt service coverage ratio, borrower strength, and market conditions. They range from approximately 4.99% to 12.75%.

Borrowers in Massachusetts 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 Massachusetts 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 Massachusetts, including Conventional, Insurance, SBA, USDA, and selected agency programs when eligibility requirements are met.

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

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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

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