Multifamily & Apartment Financing in Oregon

Commercial Loan Direct (CLD) provides apartment loans in Oregon. Current apartment loan rates in Oregon range from 4.73% to 12.75%, depending on the loan program.

Oregon 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 4.64% - 5.99% 83.3% $5,000,000+
Conduit / CMBS 5.61% - 7.54% 75% $2,000,000+
Insurance 5.11% - 8.39% 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 4.73% - 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 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 Oregon

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

Oregon Cities and Towns Served

67

Multifamily Commercial Loans in Oregon (Summary)

Multifamily financing in Oregon applies to residential properties with five or more units and is primarily underwritten based on the property’s net operating income (NOI) and overall financial performance. Lenders evaluate debt service coverage ratio (DSCR), occupancy levels, rent trends, borrower experience, and the strength of the local submarket.

Common Multifamily Loan Options

  • Agency loans (Fannie Mae and Freddie Mac): Ideal for stabilized properties with strong occupancy and consistent operating history. These loans often provide longer terms, competitive rates, and higher leverage for qualified assets.
  • Bank and credit union financing: Regional and local lenders are active throughout Oregon and may offer flexible structures, especially for smaller properties or experienced investors.
  • Bridge loans: Short-term financing used for value-add projects, lease-up situations, or repositioning strategies, with the intention of refinancing into permanent debt once stabilized.
  • CMBS or debt fund financing: Often used for larger or more complex transactions, offering flexible underwriting but sometimes with stricter prepayment terms.
  • Construction and rehabilitation loans: Used for ground-up development or major renovations, typically requiring strong borrower experience, liquidity, and a clear exit plan.

Key Underwriting Factors

  • Income stability and DSCR: Lenders require reliable cash flow with conservative underwriting assumptions.
  • Occupancy and rent performance: Historical occupancy, collections, and market-supported rent levels are critical.
  • Borrower strength: Net worth, liquidity, and multifamily experience influence loan terms and approval.
  • Property condition: Deferred maintenance or capital improvement needs may affect loan proceeds or require reserves.
  • Submarket dynamics: Population growth, employment drivers, housing supply, and rent control considerations in certain jurisdictions.

Typical Uses for Multifamily Financing

  • Acquisition: Purchase stabilized or transitional apartment properties.
  • Refinance: Replace existing financing, reduce debt costs, or access equity through cash-out.
  • Value-add strategies: Fund renovations, operational improvements, or repositioning.
  • New development: Finance construction with a plan to transition into permanent financing after lease-up.

Market-Specific Considerations in Oregon

Oregon’s multifamily market is driven by demand in major population centers such as Portland, Eugene, and Salem, where housing supply constraints and population growth support long-term rental demand. However, lenders closely evaluate local regulations, including rent control policies and tenant protection laws in certain areas, as well as construction costs, insurance trends, and the pipeline of new supply. Conservative underwriting and realistic rent projections are especially important.

How to Improve Approval and Terms

  • Prepare complete financials: Current rent roll, trailing 12-month income and expenses, and a capital improvement plan if applicable.
  • Support projections with data: Use market comps for rent increases and occupancy assumptions.
  • Maintain adequate liquidity: Lenders prefer borrowers with post-closing reserves and operating capital.
  • Match the loan to the strategy: Bridge financing for transitional assets, long-term agency or bank loans for stabilized properties.

Lending Cities

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

  • Albany
  • Aloha
  • Altamont
  • Amity
  • Ashland
  • Astoria
  • Athena
  • Aumsville
  • Baker City
  • Baker County
  • Bandon
  • Banks
  • Barview
  • Bay City
  • Beavercreek
  • Beaverton
  • Bend
  • Benton County
  • Bethany
  • Boardman
  • Brookings
  • Brownsville
  • Bunker Hill
  • Burns
  • Canby
  • Cannon Beach
  • Canyon City
  • Canyonville
  • Carlton
  • Cascade Locks
  • Cave Junction
  • Cedar Hills
  • Cedar Mill
  • Central Point
  • Chenoweth
  • Clackamas
  • Clackamas County
  • Clatskanie
  • Clatsop County
  • Coburg
  • Columbia City
  • Columbia County
  • Condon
  • Coos Bay
  • Coos County
  • Coquille
  • Cornelius
  • Corvallis
  • Cottage Grove
  • Creswell
  • Crook County
  • Culp Creek
  • Culver
  • Curry County
  • Dallas
  • Damascus
  • Dayton
  • Depoe Bay
  • Deschutes County
  • Deschutes River Woods
  • Donald
  • Douglas County
  • Drain
  • Dundee
  • Dunes City
  • Durham
  • Eagle Point
  • Elgin
  • Enterprise
  • Estacada
  • Eugene
  • Fairview
  • Florence
  • Forest Grove
  • Fossil
  • Four Corners
  • Fruitdale
  • Garden Home-Whitford
  • Gearhart
  • Gervais
  • Gilliam County
  • Gladstone
  • Glide
  • Gold Beach
  • Gold Hill
  • Grand Ronde
  • Grant County
  • Grants Pass
  • Green
  • Gresham
  • Happy Valley
  • Harbor
  • Harney County
  • Harrisburg
  • Hayesville
  • Heppner
  • Hermiston
  • Hillsboro
  • Hines
  • Hood River
  • Hood River County
  • Hubbard
  • Independence
  • Irrigon
  • Island City
  • Jackson County
  • Jacksonville
  • Jefferson
  • Jefferson County
  • Jennings Lodge
  • John Day
  • Joseph
  • Josephine County
  • Junction City
  • Keizer
  • Kenton
  • King City
  • Klamath County
  • Klamath Falls
  • La Grande
  • La Pine
  • Lafayette
  • Lake County
  • Lake Oswego
  • Lakeside
  • Lakeview
  • Lane County
  • Lebanon
  • Lents
  • Lincoln Beach
  • Lincoln City
  • Lincoln County
  • Linn County
  • Lowell
  • Lyons
  • Madras
  • Malheur County
  • Marion County
  • McMinnville
  • Medford
  • Merlin
  • Metzger
  • Mill City
  • Millersburg
  • Milton-Freewater
  • Milwaukie
  • Mission
  • Molalla
  • Monmouth
  • Moro
  • Morrow County
  • Mount Angel
  • Mount Hood Village
  • Mulino
  • Multnomah County
  • Myrtle Creek
  • Myrtle Point
  • New Hope
  • Newberg
  • Newport
  • North Bend
  • North Plains
  • North Portland
  • Nyssa
  • Oak Grove
  • Oak Hills
  • Oakridge
  • Oatfield
  • Odell
  • Ontario
  • Oregon City
  • Pacific City
  • Pendleton
  • Philomath
  • Phoenix
  • Pilot Rock
  • Polk County
  • Port Orford
  • Portland
  • Prineville
  • Rainier
  • Raleigh Hills
  • Redmond
  • Redwood
  • Reedsport
  • Riddle
  • Rockaway Beach
  • Rockcreek
  • Rogue River
  • Rose Lodge
  • Roseburg
  • Roseburg North
  • Saint Helens
  • Salem
  • Sandy
  • Scappoose
  • Seaside
  • Shady Cove
  • Sheridan
  • Sherman County
  • Sherwood
  • Siletz
  • Silverton
  • Sisters
  • South Lebanon
  • Springfield
  • Stafford
  • Stanfield
  • Stayton
  • Sublimity
  • Sunriver
  • Sutherlin
  • Sweet Home
  • Talent
  • Tangent
  • Terrebonne
  • The Dalles
  • Three Rivers
  • Tigard
  • Tillamook
  • Tillamook County
  • Toledo
  • Tri-City
  • Troutdale
  • Tualatin
  • Turner
  • Umatilla
  • Umatilla County
  • Union
  • Union County
  • Vale
  • Veneta
  • Vernonia
  • Waldport
  • Wallowa County
  • Warm Springs
  • Warren
  • Warrenton
  • Wasco County
  • Washington County
  • West Haven
  • West Haven-Sylvan
  • West Linn
  • West Slope
  • Wheeler County
  • White City
  • Willamina
  • Williams
  • Wilsonville
  • Winston
  • Wood Village
  • Woodburn
  • Yamhill
  • Yamhill County
  • Yoncalla

Commercial Loan FAQs in Oregon

Multifamily interest rates in Oregon vary based on loan type, property type, loan-to-value, debt service coverage ratio, borrower strength, and market conditions. They range from approximately 4.73% to 12.75%.

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

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

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