Multifamily & Apartment Financing in Virginia

Commercial Loan Direct (CLD) provides apartment loans in Virginia. Current apartment loan rates in Virginia range from 4.83% to 12.85%, depending on the loan program.

Virginia Apartment Loan Rates

Loan Types Rates LTV Loan Amount
Fannie Mae 5.56% - 6.36% 80% $700,000+
Freddie Mac 5.86% - 9.33% 80% $1,000,000+
FHA 4.74% - 6.09% 83.3% $5,000,000+
Conduit / CMBS 5.71% - 7.64% 75% $2,000,000+
Insurance 5.21% - 8.49% 75% $5,000,000+
USDA 6.1% - 8.85% 85% $1,000,000+
Bridge 5.85% - 12.85% 80% $1,500,000+
Construction 5.6% - 8.85% 83.3% $1,000,000+
Conventional 4.83% - 8.85% 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 Virginia

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

Virginia Cities and Towns Served

90

Multifamily Commercial Loans in Virginia (Summary)

Multifamily financing in Virginia is available for 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 trends, rent growth, 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 long terms, competitive rates, and higher leverage for qualified borrowers.
  • Bank and credit union financing: Local and regional lenders throughout Virginia offer flexible structures, particularly for smaller properties or borrowers with strong financial profiles.
  • Bridge loans: Short-term financing designed for value-add projects, lease-up situations, or property repositioning, with the goal of refinancing into permanent debt after stabilization.
  • CMBS or debt fund financing: Often used for larger loan amounts or complex transactions, offering flexible underwriting but sometimes including stricter prepayment provisions.
  • Construction and rehabilitation loans: Used for ground-up development or major renovations, typically requiring borrower experience, strong liquidity, and a defined exit strategy.

Key Underwriting Factors

  • Cash flow and DSCR: Stable income sufficient to support debt obligations is essential.
  • Occupancy and rent performance: Historical occupancy levels, collections, and market-supported rents are closely reviewed.
  • Borrower strength: Net worth, liquidity, and multifamily ownership or management experience influence loan approval and structure.
  • Property condition: Deferred maintenance or capital improvement needs may affect loan proceeds or require reserve escrows.
  • Market fundamentals: Population trends, employment drivers, new supply, and submarket demand.

Typical Uses for Multifamily Financing

  • Acquisition: Purchase stabilized or transitional apartment properties.
  • Refinance: Replace existing debt, improve loan terms, or access equity through cash-out.
  • Value-add strategies: Fund renovations, operational improvements, or repositioning.
  • Ground-up development: Finance new construction with a plan to refinance after lease-up and stabilization.

Market-Specific Considerations in Virginia

Virginia’s multifamily market benefits from diverse economic drivers, including government, defense, technology, education, and healthcare. Strong rental demand exists in major areas such as Northern Virginia, Richmond, Virginia Beach, and Norfolk. Lenders closely evaluate submarket performance, new construction activity, and affordability trends, particularly in high-growth areas near Washington, D.C.

How to Improve Loan Approval and Terms

  • Provide complete financial documentation: Current rent roll, trailing 12-month operating statements, and a capital improvement plan if applicable.
  • Support projections with market data: Use local rent and occupancy comparables.
  • Maintain adequate liquidity: Post-closing reserves and operating capital strengthen the loan request.
  • Match financing to the strategy: Bridge loans for transitional properties, long-term agency or bank financing for stabilized assets.

Lending Cities

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

  • Abingdon
  • Accomac
  • Accomack County
  • Adwolf
  • Albemarle County
  • Alexandria
  • Alleghany County
  • Altavista
  • Amelia County
  • Amelia Court House
  • Amherst
  • Amherst County
  • Annandale
  • Appalachia
  • Apple Mountain Lake
  • Appomattox
  • Appomattox County
  • Aquia Harbour
  • Arlington
  • Arlington County
  • Ashburn
  • Ashland
  • Atkins
  • Augusta County
  • Baileys Crossroads
  • Bassett
  • Basye
  • Bath County
  • Bealeton
  • Bedford
  • Bedford County
  • Belle Haven
  • Bellwood
  • Belmont
  • Belmont Estates
  • Bensley
  • Berryville
  • Big Stone Gap
  • Blacksburg
  • Blackstone
  • Bland
  • Bland County
  • Blue Ridge
  • Bluefield
  • Bon Air
  • Boswell's Corner
  • Botetourt County
  • Bowling Green
  • Boydton
  • Bracey
  • Brambleton
  • Brandermill
  • Bridgewater
  • Brightwood
  • Bristol
  • Broadlands
  • Broadway
  • Brookneal
  • Brunswick County
  • Buchanan
  • Buchanan County
  • Buckhall
  • Buckingham
  • Buckingham County
  • Buena Vista
  • Bull Run
  • Bull Run Mountain Estates
  • Burke
  • Campbell County
  • Cana
  • Cape Charles
  • Captains Cove
  • Caroline County
  • Carroll County
  • Carrollton
  • Castlewood
  • Cave Spring
  • Cedar Bluff
  • Central Garage
  • Centreville
  • Chamberlayne
  • Chantilly
  • Charles City
  • Charles City County
  • Charlotte County
  • Charlotte Court House
  • Charlottesville
  • Chase City
  • Chatham
  • Chatmoss
  • Cherry Hill
  • Chesapeake
  • Chester
  • Chesterfield County
  • Chesterfield Court House
  • Chilhowie
  • Chincoteague
  • Christiansburg
  • City of Alexandria
  • City of Bedford
  • City of Bristol
  • City of Buena Vista
  • City of Charlottesville
  • City of Chesapeake
  • City of Colonial Heights
  • City of Covington
  • City of Danville
  • City of Emporia
  • City of Fairfax
  • City of Falls Church
  • City of Franklin
  • City of Fredericksburg
  • City of Galax
  • City of Hampton
  • City of Harrisonburg
  • City of Hopewell
  • City of Lexington
  • City of Lynchburg
  • City of Manassas
  • City of Manassas Park
  • City of Martinsville
  • City of Newport News
  • City of Norfolk
  • City of Norton
  • City of Petersburg
  • City of Poquoson
  • City of Portsmouth
  • City of Radford
  • City of Richmond
  • City of Roanoke
  • City of Salem
  • City of Staunton
  • City of Suffolk
  • City of Virginia Beach
  • City of Waynesboro
  • City of Williamsburg
  • City of Winchester
  • Clarke County
  • Clarksville
  • Claypool Hill
  • Clifton Forge
  • Clintwood
  • Cloverdale
  • Coeburn
  • Collinsville
  • Colonial Beach
  • Colonial Heights
  • Concord
  • Countryside
  • Courtland
  • Covington
  • Craig County
  • Crewe
  • Crimora
  • Crozet
  • Culpeper
  • Culpeper County
  • Cumberland
  • Cumberland County
  • Dahlgren
  • Dale City
  • Daleville
  • Danville
  • Dayton
  • Deltaville
  • Dickenson County
  • Dinwiddie County
  • Dooms
  • Dranesville
  • Dryden
  • Dublin
  • Dulles Town Center
  • Dumbarton
  • Dumfries
  • Dunn Loring
  • East Hampton
  • East Highland Park
  • East Lexington
  • Eastville
  • Edinburg
  • Elkton
  • Emory
  • Emporia
  • Enon
  • Essex County
  • Ettrick
  • Exmore
  • Fairfax
  • Fairfax County
  • Fairfax Station
  • Fairlawn
  • Falls Church
  • Falmouth
  • Farmville
  • Fauquier County
  • Ferrum
  • Fincastle
  • Fishersville
  • Floris
  • Floyd
  • Floyd County
  • Fluvanna County
  • Forest
  • Fort Belvoir
  • Fort Hunt
  • Fort Lee
  • Franconia
  • Franklin
  • Franklin County
  • Frederick County
  • Fredericksburg
  • Front Royal
  • Gainesville
  • Galax
  • Gate City
  • Giles County
  • Glade Spring
  • Glasgow
  • Glen Allen
  • Gloucester County
  • Gloucester Courthouse
  • Gloucester Point
  • Goochland
  • Goochland County
  • Gordonsville
  • Grayson County
  • Great Falls
  • Greenbriar
  • Greene County
  • Greensville County
  • Gretna
  • Grottoes
  • Groveton
  • Grundy
  • Halifax
  • Halifax County
  • Hampden Sydney
  • Hampton
  • Hanover
  • Hanover County
  • Harrisonburg
  • Hayfield
  • Haymarket
  • Heathsville
  • Henrico County
  • Henry County
  • Henry Fork
  • Herndon
  • Highland County
  • Highland Springs
  • Hillsville
  • Hollins
  • Hollymead
  • Honaker
  • Hopewell
  • Horse Pasture
  • Huntington
  • Hurt
  • Hybla Valley
  • Idylwood
  • Independence
  • Independent Hill
  • Isle of Wight County
  • James City County
  • Jefferson
  • Jolivue
  • Jonesville
  • Kenbridge
  • Kilmarnock
  • King and Queen County
  • King and Queen Court House
  • King George
  • King George County
  • King William
  • King William County
  • Kings Park
  • Kings Park West
  • Lake Barcroft
  • Lake Monticello
  • Lake Ridge
  • Lakeside
  • Lancaster County
  • Laurel
  • Laurel Hill
  • Lawrenceville
  • Laymantown
  • Lebanon
  • Lee County
  • Leesburg
  • Lexington
  • Lincolnia
  • Linton Hall
  • Loch Lomond
  • Lorton
  • Loudoun County
  • Loudoun Valley Estates
  • Louisa
  • Louisa County
  • Lovettsville
  • Lovingston
  • Lowes Island
  • Lunenburg
  • Lunenburg County
  • Luray
  • Lynchburg
  • Lyndhurst
  • Madison
  • Madison County
  • Madison Heights
  • Manassas
  • Manassas Park
  • Mantua
  • Marion
  • Marshall
  • Martinsville
  • Massanetta Springs
  • Massanutten
  • Mathews
  • Mathews County
  • Matoaca
  • McLean
  • Meadowbrook
  • Mechanicsville
  • Mecklenburg County
  • Merrifield
  • Merrimac
  • Middlesex County
  • Middletown
  • Montclair
  • Monterey
  • Montgomery County
  • Montrose
  • Montross
  • Motley
  • Mount Hermon
  • Mount Jackson
  • Mount Vernon
  • Mountain Road
  • Narrows
  • Nellysford
  • Nelson County
  • New Baltimore
  • New Castle
  • New Kent
  • New Kent County
  • New Market
  • Newington
  • Newport News
  • Nokesville
  • Norfolk
  • North Shore
  • North Springfield
  • Northampton County
  • Northumberland County
  • Norton
  • Nottoway County
  • Oak Grove
  • Oak Hill
  • Oakton
  • Occoquan
  • Onancock
  • Orange
  • Orange County
  • Page County
  • Palmyra
  • Pannill Fork
  • Pantops
  • Passapatanzy
  • Patrick County
  • Patrick Springs
  • Pearisburg
  • Pembroke
  • Pennington Gap
  • Petersburg
  • Pimmit Hills
  • Pittsylvania County
  • Plum Creek
  • Poquoson
  • Portsmouth
  • Portsmouth Heights
  • Potomac Mills
  • Powhatan County
  • Prices Fork
  • Prince Edward County
  • Prince George
  • Prince George County
  • Prince William County
  • Pulaski
  • Pulaski County
  • Purcellville
  • Quantico Station
  • Radford
  • Rappahannock County
  • Raven
  • Ravensworth
  • Reston
  • Richlands
  • Richmond
  • Richmond County
  • Roanoke
  • Roanoke County
  • Rockbridge County
  • Rockingham County
  • Rocky Mount
  • Rose Hill
  • Rosslyn
  • Ruckersville
  • Rural Retreat
  • Rushmere
  • Russell County
  • Rustburg
  • Salem
  • Saltville
  • Saluda
  • Sandston
  • Scott County
  • Seven Corners
  • Shawnee Land
  • Shawsville
  • Shenandoah
  • Shenandoah County
  • Shenandoah Farms
  • Short Pump
  • Smithfield
  • Smyth County
  • South Boston
  • South Hill
  • South Riding
  • South Suffolk
  • Southampton County
  • Southern Gateway
  • Spotsylvania County
  • Spotsylvania Courthouse
  • Springfield
  • Springville
  • Stafford
  • Stafford County
  • Stanardsville
  • Stanley
  • Stanleytown
  • Staunton
  • Stephens City
  • Sterling
  • Strasburg
  • Stuart
  • Stuarts Draft
  • Sudley
  • Suffolk
  • Sugarland Run
  • Surry
  • Surry County
  • Sussex
  • Sussex County
  • Tappahannock
  • Tazewell
  • Tazewell County
  • Timberlake
  • Timberville
  • Triangle
  • Tuckahoe
  • Twin Lakes
  • Tysons Corner
  • Union Hall
  • University Center
  • Verona
  • Victoria
  • Vienna
  • Vinton
  • Virginia Beach
  • Warm Springs
  • Warren County
  • Warrenton
  • Warsaw
  • Washington
  • Washington County
  • Wattsville
  • Waverly
  • Waynesboro
  • Weber City
  • West Falls Church
  • West Gate
  • West Lynchburg
  • West Point
  • West Springfield
  • Westmoreland County
  • Weyers Cave
  • Williamsburg
  • Winchester
  • Windsor
  • Wise
  • Wise County
  • Wolf Trap
  • Woodbridge
  • Woodburn
  • Woodlake
  • Woodlawn
  • Woodstock
  • Wyndham
  • Wythe County
  • Wytheville
  • York County
  • Yorkshire
  • Yorktown

Commercial Loan FAQs in Virginia

Multifamily interest rates in Virginia vary based on loan type, property type, loan-to-value, debt service coverage ratio, borrower strength, and market conditions. They range from approximately 4.83% to 12.85%.

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

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

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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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