Multifamily & Apartment Financing in Ohio

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

Ohio 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 Ohio

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

Ohio Cities and Towns Served

125

Ohio Multifamily Commercial Lending Landscape

Ohio’s multifamily market is supported by stable demand across major metros such as Columbus, Cleveland, and Cincinnati, along with a wide range of secondary cities and suburban communities. Economic drivers include healthcare, education, government, manufacturing, and logistics. Lenders are active throughout the state but often differentiate loan terms based on submarket strength, property condition, and local transaction volume.

Primary Financing Options in Ohio

  • Agency loans (Fannie Mae / Freddie Mac): Common for stabilized multifamily properties (5+ units) with consistent occupancy and predictable cash flow, offering competitive rates and longer loan terms.
  • Local and regional banks / credit unions: A major financing source for small-to-mid sized properties, typically providing relationship-based lending with recourse and shorter maturities.
  • Bridge loans: Frequently used for value-add acquisitions, lease-up situations, or repositioning projects prior to refinancing into permanent debt.
  • CMBS and debt funds: Available for larger loan sizes, portfolio transactions, or situations requiring higher leverage or flexible structures.
  • Construction loans: Typically bank-led and conservative, requiring experienced sponsorship, strong feasibility analysis, and meaningful borrower equity.

Key Underwriting Considerations in Ohio

Lenders in Ohio focus on submarket stability, occupancy performance, and realistic income assumptions. Because the state includes many secondary and tertiary markets, underwriting often reflects local economic trends and comparable sales availability.

  • Submarket strength: High-growth areas, strong suburbs, and neighborhoods near major employment centers generally receive the most favorable loan terms.
  • Occupancy and rent trends: Stable historical performance supports higher leverage, while volatility may reduce proceeds or require additional reserves.
  • Comparable sales: Limited transaction volume in smaller markets can constrain appraised values and loan sizing.
  • Property age and capital needs: Older housing stock is common, and deferred maintenance may require repair escrows or bridge financing.
  • Local economic drivers: Universities, healthcare systems, state government, and distribution/logistics hubs support long-term rental demand.

Common Ohio Deal Profiles

  • Stabilized workforce housing: Often financed with agency or bank permanent loans when financial performance is consistent and well documented.
  • Value-add repositioning: Bridge financing is commonly used to fund renovations, unit upgrades, and operational improvements before refinancing.
  • Small-balance properties (5–50 units): Frequently financed through local lenders with recourse and conservative leverage.
  • New development: Construction loans are available in strong markets but require experienced sponsorship, conservative lease-up assumptions, and detailed cost controls.

Documentation and Loan Requirements

A complete and well-prepared loan package helps lenders evaluate both the property and the sponsor, improving execution speed and loan terms.

  • Operating documentation: Current rent roll, trailing 12-month (T-12) financials, and explanations for any unusual income or expense trends.
  • Sponsor qualifications: Net worth, liquidity, real estate experience, and a clear management plan.
  • Third-party reports: Appraisal, Phase I environmental, and property condition assessments depending on the lender and loan type.
  • Renovation scope (if applicable): Detailed capex budget, contractor bids, and a realistic timeline for stabilization.

Challenges and Opportunities

Ohio offers relatively stable multifamily demand with moderate growth in key metros, but lenders may remain cautious in smaller or slower-growth markets. Borrowers with conservative projections and strong financial capacity typically receive the most favorable financing terms.

  • Challenges: slower population growth in certain areas, aging housing inventory, and limited comparable sales in tertiary markets.
  • Opportunities: value-add renovation of older properties, improving under-managed workforce housing, and targeting markets supported by strong institutional employment.

How to Strengthen an Ohio Multifamily Loan Request

  • Match the financing to the business plan: Stabilized properties are best suited for permanent loans, while transitional assets typically require bridge financing.
  • Use conservative projections: Support rent, vacancy, and expense assumptions with local market data.
  • Highlight demand drivers: Universities, healthcare systems, government employment, and major regional employers.
  • Demonstrate liquidity and reserves: Strong borrower financial capacity helps mitigate lender concerns in smaller or slower-growth markets.

Lending Cities

Commercial loan direct provides services in the following Ohio 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 Ohio economic reports to get a better understanding of your market.

  • Ada
  • Adams County
  • Akron
  • Allen County
  • Alliance
  • Amberley
  • Amelia
  • Amherst
  • Andover
  • Anna
  • Ansonia
  • Antwerp
  • Apple Creek
  • Apple Valley
  • Arcanum
  • Archbold
  • Arlington
  • Ashland
  • Ashland County
  • Ashley
  • Ashtabula
  • Ashtabula County
  • Ashville
  • Athens
  • Athens County
  • Auglaize County
  • Aurora
  • Austintown
  • Avon
  • Avon Center
  • Avon Lake
  • Bainbridge
  • Ballville
  • Baltimore
  • Barberton
  • Barnesville
  • Batavia
  • Bay Village
  • Beach City
  • Beachwood
  • Beavercreek
  • Beckett Ridge
  • Bedford
  • Bedford Heights
  • Beechwood Trails
  • Bellaire
  • Bellbrook
  • Bellefontaine
  • Bellevue
  • Bellville
  • Belmont County
  • Belpre
  • Berea
  • Bethel
  • Bethesda
  • Beverly
  • Bexley
  • Blacklick Estates
  • Blanchester
  • Blue Ash
  • Bluffton
  • Boardman
  • Bolindale
  • Boston Heights
  • Botkins
  • Bowling Green
  • Bradford
  • Bradner
  • Bratenahl
  • Brecksville
  • Bremen
  • Brewster
  • Bridgeport
  • Bridgetown
  • Brilliant
  • Brimfield
  • Broadview Heights
  • Brook Park
  • Brookfield Center
  • Brooklyn
  • Brooklyn Heights
  • Brookville
  • Brown County
  • Brunswick
  • Bryan
  • Buckeye Lake
  • Bucyrus
  • Burlington
  • Burton
  • Butler County
  • Byesville
  • Cadiz
  • Calcutta
  • Caldwell
  • Cambridge
  • Camden
  • Campbell
  • Canal Fulton
  • Canal Winchester
  • Canfield
  • Canton
  • Cardington
  • Carey
  • Carlisle
  • Carroll County
  • Carrollton
  • Cedarville
  • Celina
  • Centerburg
  • Centerville
  • Chagrin Falls
  • Champaign County
  • Champion Heights
  • Chardon
  • Chauncey
  • Cherry Grove
  • Chesterland
  • Cheviot
  • Chillicothe
  • Choctaw Lake
  • Churchill
  • Cincinnati
  • Circleville
  • Clark County
  • Clark-Fulton
  • Clayton
  • Clermont County
  • Cleveland
  • Cleveland Heights
  • Cleves
  • Clinton
  • Clinton County
  • Clyde
  • Coal Grove
  • Coldwater
  • Collinwood
  • Columbiana
  • Columbiana County
  • Columbus
  • Columbus Grove
  • Commercial Point
  • Conneaut
  • Continental
  • Convoy
  • Copley
  • Cortland
  • Coshocton
  • Coshocton County
  • Covedale
  • Covington
  • Craig Beach
  • Crawford County
  • Crestline
  • Creston
  • Cridersville
  • Crooksville
  • Crystal Lakes
  • Curtice
  • Cuyahoga County
  • Cuyahoga Falls
  • Dalton
  • Danville
  • Darke County
  • Day Heights
  • Dayton
  • De Graff
  • Deer Park
  • Defiance
  • Defiance County
  • Delaware
  • Delaware County
  • Delhi Hills
  • Delphos
  • Delta
  • Dennison
  • Dent
  • Deshler
  • Detroit-Shoreway
  • Devola
  • Dillonvale
  • Dover
  • Doylestown
  • Dresden
  • Drexel
  • Dry Ridge
  • Dry Run
  • Dublin
  • Dunlap
  • East Canton
  • East Cleveland
  • East Liverpool
  • East Palestine
  • Eastlake
  • Eaton
  • Eaton Estates
  • Edgerton
  • Edgewood
  • Elida
  • Elmore
  • Elmwood Place
  • Elyria
  • Englewood
  • Enon
  • Erie County
  • Etna
  • Euclid
  • Evendale
  • Fairborn
  • Fairfax
  • Fairfield
  • Fairfield Beach
  • Fairfield County
  • Fairlawn
  • Fairport Harbor
  • Fairview Park
  • Farmersville
  • Fayette
  • Fayette County
  • Findlay
  • Finneytown
  • Five Points
  • Forest
  • Forest Park
  • Forestville
  • Fort Loramie
  • Fort McKinley
  • Fort Recovery
  • Fort Shawnee
  • Fostoria
  • Frankfort
  • Franklin
  • Franklin County
  • Franklin Furnace
  • Frazeysburg
  • Fredericktown
  • Fremont
  • Fruit Hill
  • Fulton County
  • Gahanna
  • Galion
  • Gallia County
  • Gallipolis
  • Gambier
  • Garfield Heights
  • Garrettsville
  • Gates Mills
  • Geauga County
  • Geneva
  • Geneva-on-the-Lake
  • Genoa
  • Georgetown
  • Germantown
  • Gibsonburg
  • Girard
  • Glandorf
  • Glendale
  • Glenmoor
  • Glenville
  • Glouster
  • Gnadenhutten
  • Golf Manor
  • Goshen
  • Grafton
  • Grandview
  • Grandview Heights
  • Granville
  • Granville South
  • Green
  • Green Meadows
  • Green Springs
  • Greene County
  • Greenfield
  • Greenhills
  • Greensburg
  • Greentown
  • Greenville
  • Greenwich
  • Groesbeck
  • Grove City
  • Groveport
  • Guernsey County
  • Hamilton
  • Hamilton County
  • Hancock County
  • Hanover
  • Harbor Hills
  • Hardin County
  • Harrison
  • Harrison County
  • Hartville
  • Haskins
  • Heath
  • Hebron
  • Henry County
  • Hicksville
  • Highland County
  • Highland Heights
  • Highpoint
  • Hilliard
  • Hillsboro
  • Hiram
  • Hocking County
  • Holgate
  • Holiday Valley
  • Holland
  • Holmes County
  • Hough
  • Howland Center
  • Hubbard
  • Huber Heights
  • Huber Ridge
  • Hudson
  • Hunter
  • Huron
  • Huron County
  • Independence
  • Ironton
  • Jackson
  • Jackson Center
  • Jackson County
  • Jamestown
  • Jefferson
  • Jefferson County
  • Jeffersonville
  • Johnstown
  • Kalida
  • Kent
  • Kenton
  • Kenwood
  • Kettering
  • Kings Mills
  • Kingston
  • Kirtland
  • Knox County
  • La Croft
  • Lagrange
  • Lake County
  • Lake Darby
  • Lake Lakengren
  • Lake Mohawk
  • Lakemore
  • Lakeview
  • Lakewood
  • Lancaster
  • Landen
  • Lawrence County
  • Leavittsburg
  • Lebanon
  • Leesburg
  • Leetonia
  • Leipsic
  • Lewis Center
  • Lewisburg
  • Lexington
  • Liberty Center
  • Licking County
  • Lima
  • Lincoln Heights
  • Lincoln Village
  • Lisbon
  • Lithopolis
  • Lockland
  • Lodi
  • Logan
  • Logan County
  • Logan Elm Village
  • London
  • Lorain
  • Lorain County
  • Lordstown
  • Loudonville
  • Louisville
  • Loveland
  • Loveland Park
  • Lowellville
  • Lucas County
  • Lucasville
  • Luckey
  • Lynchburg
  • Lyndhurst
  • Macedonia
  • Mack
  • Madeira
  • Madison
  • Madison County
  • Mahoning County
  • Malvern
  • Manchester
  • Mansfield
  • Mantua
  • Maple Heights
  • Mariemont
  • Marietta
  • Marion
  • Marion County
  • Martins Ferry
  • Marysville
  • Mason
  • Massillon
  • Masury
  • Maumee
  • Mayfield
  • Mayfield Heights
  • McArthur
  • McComb
  • McConnelsville
  • McDonald
  • McKinley Heights
  • Mechanicsburg
  • Medina
  • Medina County
  • Meigs County
  • Mentor
  • Mentor-on-the-Lake
  • Mercer County
  • Miami County
  • Miami Heights
  • Miamisburg
  • Miamitown
  • Middleburg Heights
  • Middlefield
  • Middleport
  • Middletown
  • Milan
  • Milford
  • Millbury
  • Millersburg
  • Millersport
  • Mineral Ridge
  • Minerva
  • Minerva Park
  • Mingo Junction
  • Minster
  • Mogadore
  • Monfort Heights
  • Monroe
  • Monroe County
  • Monroeville
  • Montgomery
  • Montgomery County
  • Montpelier
  • Montrose-Ghent
  • Moraine
  • Moreland Hills
  • Morgan County
  • Morgandale
  • Morrow
  • Morrow County
  • Mount Carmel
  • Mount Gilead
  • Mount Healthy
  • Mount Healthy Heights
  • Mount Orab
  • Mount Repose
  • Mount Sterling
  • Mount Vernon
  • Mulberry
  • Munroe Falls
  • Muskingum County
  • Napoleon
  • Navarre
  • Nelsonville
  • New Albany
  • New Boston
  • New Bremen
  • New Burlington
  • New California
  • New Carlisle
  • New Concord
  • New Franklin
  • New Lebanon
  • New Lexington
  • New London
  • New Matamoras
  • New Miami
  • New Middletown
  • New Paris
  • New Philadelphia
  • New Richmond
  • New Vienna
  • New Waterford
  • Newark
  • Newburgh Heights
  • Newcomerstown
  • Newport
  • Newton Falls
  • Newtown
  • Niles
  • Noble County
  • North Baltimore
  • North Canton
  • North College Hill
  • North Fork Village
  • North Kingsville
  • North Lewisburg
  • North Madison
  • North Olmsted
  • North Randall
  • North Ridgeville
  • North Royalton
  • North Zanesville
  • Northbrook
  • Northfield
  • Northgate
  • Northridge
  • Northwood
  • Norton
  • Norwalk
  • Norwood
  • Oak Harbor
  • Oak Hill
  • Oakwood
  • Oberlin
  • Obetz
  • Olmsted Falls
  • Ontario
  • Orange
  • Oregon
  • Orrville
  • Orwell
  • Ottawa
  • Ottawa County
  • Ottawa Hills
  • Oxford
  • Painesville
  • Pandora
  • Park Layne
  • Parma
  • Parma Heights
  • Pataskala
  • Paulding
  • Paulding County
  • Payne
  • Peebles
  • Pemberville
  • Pepper Pike
  • Perry
  • Perry County
  • Perry Heights
  • Perrysburg
  • Pickaway County
  • Pickerington
  • Pike County
  • Piketon
  • Pioneer
  • Piqua
  • Plain City
  • Pleasant Grove
  • Pleasant Hill
  • Pleasant Run
  • Pleasant Run Farm
  • Plymouth
  • Poland
  • Pomeroy
  • Port Clinton
  • Portage County
  • Portage Lakes
  • Portsmouth
  • Powell
  • Powhatan Point
  • Preble County
  • Prospect
  • Putnam County
  • Ravenna
  • Reading
  • Reminderville
  • Reno
  • Reynoldsburg
  • Richfield
  • Richland County
  • Richmond Heights
  • Richville
  • Richwood
  • Ripley
  • Rittman
  • Riverside
  • Roaming Shores
  • Rockford
  • Rocky River
  • Rosemount
  • Roseville
  • Ross
  • Ross County
  • Rossford
  • Rossmoyne
  • Russells Point
  • Sabina
  • Saint Bernard
  • Saint Clairsville
  • Saint Henry
  • Saint Marys
  • Saint Paris
  • Salem
  • Salem Heights
  • Salineville
  • Sandusky
  • Sandusky County
  • Sawyerwood
  • Scioto County
  • Sciotodale
  • Sebring
  • Seneca County
  • Seven Hills
  • Seville
  • Shadyside
  • Shaker Heights
  • Sharonville
  • Shawnee Hills
  • Sheffield
  • Sheffield Lake
  • Shelby
  • Shelby County
  • Sherwood
  • Shiloh
  • Shreve
  • Sidney
  • Silver Lake
  • Silverton
  • Sixteen Mile Stand
  • Skyline Acres
  • Smithville
  • Solon
  • Somerset
  • South Amherst
  • South Bloomfield
  • South Canal
  • South Charleston
  • South Euclid
  • South Lebanon
  • South Point
  • South Russell
  • South Zanesville
  • Spencerville
  • Springboro
  • Springdale
  • Springfield
  • Stark County
  • Steubenville
  • Stony Prairie
  • Stow
  • Strasburg
  • Streetsboro
  • Strongsville
  • Struthers
  • Stryker
  • Sugarcreek
  • Sugarcreek Police Dept
  • Summerside
  • Summit County
  • Sunbury
  • Swanton
  • Sylvania
  • Tallmadge
  • Terrace Park
  • The Plains
  • The Village of Indian Hill
  • Thornport
  • Tiffin
  • Tiltonsville
  • Tipp City
  • Toledo
  • Toronto
  • Trenton
  • Trotwood
  • Troy
  • Trumbull County
  • Turpin Hills
  • Tuscarawas
  • Tuscarawas County
  • Twinsburg
  • Uhrichsville
  • Union
  • Union City
  • Union County
  • Uniontown
  • University Heights
  • Upper Arlington
  • Upper Sandusky
  • Urbana
  • Urbancrest
  • Utica
  • Valley View
  • Van Wert
  • Van Wert County
  • Vandalia
  • Vermilion
  • Vermilion-on-the-Lake
  • Versailles
  • Vinton County
  • Wadsworth
  • Wakeman
  • Walbridge
  • Walton Hills
  • Wapakoneta
  • Warren
  • Warren County
  • Warrensville Heights
  • Washington County
  • Washington Court House
  • Waterville
  • Wauseon
  • Waverly
  • Wayne County
  • Waynesville
  • Wellington
  • Wellston
  • Wellsville
  • West Alexandria
  • West Carrollton City
  • West Hill
  • West Jefferson
  • West Lafayette
  • West Liberty
  • West Milton
  • West Portsmouth
  • West Salem
  • West Union
  • West Unity
  • Westerville
  • Westfield Center
  • Westlake
  • Weston
  • Wetherington
  • Wheelersburg
  • White Oak
  • Whitehall
  • Whitehouse
  • Wickliffe
  • Wilberforce
  • Willard
  • Williams County
  • Williamsburg
  • Williamsport
  • Willoughby
  • Willoughby Hills
  • Willowick
  • Wilmington
  • Winchester
  • Windham
  • Wintersville
  • Withamsville
  • Wolfhurst
  • Wood County
  • Woodlawn
  • Woodsfield
  • Woodville
  • Wooster
  • Worthington
  • Wright-Patterson AFB
  • Wyandot County
  • Wyoming
  • Xenia
  • Yellow Springs
  • Yorkville
  • Youngstown
  • Zanesville

Commercial Loan FAQs in Ohio

Multifamily interest rates in Ohio 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 Ohio 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 Ohio 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 Ohio, including Conventional, Insurance, SBA, USDA, and selected agency programs when eligibility requirements are met.

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

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