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Multifamily & Apartment Financing in Texas

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

Texas 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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Texas 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 Texas

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

Texas Cities and Towns Served

251

Texas Multifamily Commercial Lending Landscape

Texas is one of the most active multifamily markets in the country, driven by strong population growth, business expansion, and economic diversity across major metros such as Dallas–Fort Worth, Houston, Austin, and San Antonio. While demand remains strong, lenders are closely monitoring new supply levels, rent growth trends, and market absorption when structuring multifamily loans.

Primary Financing Options in Texas

  • Agency loans (Fannie Mae / Freddie Mac): Widely used for stabilized properties with consistent occupancy and cash flow. These programs offer competitive rates, longer terms, and non-recourse options (subject to standard carve-outs).
  • Bank and credit union financing: Common for smaller properties, construction projects, and relationship-based lending, typically with recourse and shorter maturities.
  • Bridge loans: Frequently used for value-add acquisitions, lease-up, or properties in transition before refinancing into permanent debt.
  • CMBS and debt funds: Often used for larger assets, higher leverage scenarios, or when flexible underwriting and faster execution are needed.
  • Construction loans: Readily available in strong submarkets but typically require experienced sponsorship, meaningful equity, and careful market feasibility analysis due to elevated supply in some areas.

Key Underwriting Considerations in Texas

Despite strong long-term fundamentals, lenders in Texas are focused on supply risk, rent stability, and realistic projections. Markets with heavy new development pipelines may face tighter underwriting, lower leverage, or higher debt service coverage requirements.

  • Submarket performance: Core employment corridors and high-demand neighborhoods generally receive better loan terms than oversupplied areas.
  • Occupancy and concessions: Lenders closely review current occupancy, lease trends, and the use of concessions to assess true performance.
  • New supply pipeline: Areas with significant new deliveries may see more conservative rent growth assumptions and valuation adjustments.
  • Property condition and capital needs: Deferred maintenance or heavy renovation plans may require bridge financing or repair escrows.
  • Insurance and operating costs: Rising insurance, property taxes, and operating expenses are key underwriting factors in many Texas markets.

Common Texas Deal Profiles

  • Stabilized multifamily assets: Typically financed with agency or permanent bank loans when historical operations are strong.
  • Value-add repositioning: Bridge loans are commonly used to fund interior upgrades, amenity improvements, and operational stabilization prior to refinance.
  • Small-balance properties (5–50 units): Often financed through local lenders with recourse and conservative leverage.
  • New development: Construction financing remains active but requires experienced developers, strong market demand, and conservative lease-up assumptions.

Documentation and Loan Requirements

A comprehensive and well-supported loan package helps lenders evaluate both the property and sponsorship, improving execution speed and loan terms.

  • Operating history: Current rent roll and trailing 12-month (T-12) financials, along with explanations for occupancy or income fluctuations.
  • Sponsor strength: Net worth, liquidity, multifamily experience, and a clear management strategy.
  • Third-party reports: Appraisal, Phase I environmental, and property condition assessments depending on lender requirements.
  • Renovation or lease-up plans: Detailed capex budgets, contractor bids, timelines, and realistic stabilization projections.

Challenges and Opportunities

Texas offers strong long-term multifamily fundamentals due to continued migration and job growth, but lenders are balancing this outlook with caution in markets experiencing heavy new supply. Properties with solid historical performance and conservative business plans tend to secure the best financing terms.

  • Challenges: elevated new supply in certain submarkets, rising insurance and property tax costs, and tighter underwriting on aggressive rent projections.
  • Opportunities: acquiring assets in temporarily soft submarkets, executing value-add strategies, and stabilizing properties for long-term agency financing.

How to Strengthen a Texas Multifamily Loan Request

  • Align the loan with the strategy: Stabilized properties fit permanent financing, while transitional assets typically require bridge debt.
  • Use conservative assumptions: Support rent growth, vacancy, and expense projections with current market data.
  • Highlight submarket demand drivers: Employment growth, population migration, and infrastructure development.
  • Demonstrate liquidity and reserves: Strong financial capacity helps offset lender concerns related to supply cycles and operating cost increases.

Lending Cities

Commercial loan direct provides services in the following Texas 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 Texas

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

Yes. Refinance options in Texas 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

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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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.

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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

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