Multifamily & Apartment Financing in West Virginia

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

West Virginia 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 West Virginia

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

West Virginia Cities and Towns Served

29

Multifamily Commercial Loans in West Virginia (Summary)

Multifamily financing in West 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 financial stability. Lenders evaluate debt service coverage ratio (DSCR), occupancy history, rent performance, borrower experience, and the long-term strength of the local market.

Common Multifamily Loan Options

  • Agency loans (Fannie Mae and Freddie Mac): Best suited for stabilized properties with consistent occupancy and operating history. These loans offer longer terms and competitive rates for qualified assets.
  • Local and regional bank financing: Community and regional lenders play a key role in West Virginia, often providing relationship-based lending and flexible structures, especially for smaller properties.
  • Bridge loans: Short-term financing used for value-add projects, lease-up situations, or property repositioning, with the intent to refinance into permanent debt once stabilized.
  • CMBS or debt fund financing: Typically used for larger or more complex transactions, offering flexible underwriting but sometimes including stricter prepayment provisions.
  • Construction and rehabilitation loans: Used for new development or significant renovations, generally requiring borrower experience, strong liquidity, and a clear exit strategy.

Key Underwriting Factors

  • Cash flow and DSCR: Reliable income sufficient to support debt payments is essential.
  • Occupancy stability: Consistent tenant demand and collections are especially important in smaller markets.
  • Borrower strength: Net worth, liquidity, and multifamily ownership or management experience influence loan approval and terms.
  • Property condition: Deferred maintenance or capital improvement needs may reduce loan proceeds or require reserve escrows.
  • Market fundamentals: Population trends, employment drivers, and long-term housing demand.

Typical Uses for Multifamily Financing

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

Market-Specific Considerations in West Virginia

West Virginia’s multifamily market is centered around regional hubs such as Charleston, Huntington, and Morgantown. Demand is often supported by healthcare, education, and government employment, including major universities and medical centers. Because many markets are smaller and population growth is limited, lenders typically take a conservative underwriting approach, placing strong emphasis on occupancy history, realistic rent projections, and the long-term stability of local economic drivers.

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.
  • Use realistic projections: Support rent and occupancy assumptions with local market data.
  • 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 loans for stabilized assets.

Lending Cities

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

  • Alderson
  • Alum Creek
  • Ansted
  • Barbour County
  • Barboursville
  • Barrackville
  • Beaver
  • Beckley
  • Belington
  • Belle
  • Benwood
  • Berkeley County
  • Berkeley Springs
  • Bethany
  • Bethlehem
  • Blennerhassett
  • Bluefield
  • Bluewell
  • Boaz
  • Bolivar
  • Boone County
  • Bradley
  • Braxton County
  • Bridgeport
  • Brooke County
  • Brookhaven
  • Brush Fork
  • Buckhannon
  • Buffalo
  • Cabell County
  • Calhoun County
  • Ceredo
  • Chapmanville
  • Charles Town
  • Charleston
  • Cheat Lake
  • Chesapeake
  • Chester
  • Clarksburg
  • Clay
  • Clay County
  • Clendenin
  • Coal City
  • Coal Fork
  • Crab Orchard
  • Craigsville
  • Cross Lanes
  • Culloden
  • Daniels
  • Despard
  • Doddridge County
  • Dunbar
  • Eleanor
  • Elizabeth
  • Elkins
  • Elkview
  • Fairlea
  • Fairmont
  • Fayette County
  • Fayetteville
  • Follansbee
  • Fort Ashby
  • Franklin
  • Gilbert Creek
  • Gilmer County
  • Glendale
  • Glenville
  • Grafton
  • Grant County
  • Grantsville
  • Granville
  • Greenbrier County
  • Hamlin
  • Hampshire County
  • Hancock County
  • Hardy County
  • Harrison County
  • Harrisville
  • Hinton
  • Hooverson Heights
  • Huntington
  • Hurricane
  • Inwood
  • Jackson County
  • Jefferson County
  • Kanawha County
  • Kenova
  • Keyser
  • Kingwood
  • Lavalette
  • Lesage
  • Lewis County
  • Lewisburg
  • Lincoln County
  • Logan
  • Logan County
  • Lubeck
  • Mabscott
  • MacArthur
  • Madison
  • Mallory
  • Mannington
  • Marion County
  • Marlinton
  • Marmet
  • Marshall County
  • Martinsburg
  • Mason County
  • McDowell County
  • McMechen
  • Mercer County
  • Middlebourne
  • Milton
  • Mineral County
  • Mineral Wells
  • Mingo County
  • Monongah
  • Monongalia County
  • Monroe County
  • Montgomery
  • Moorefield
  • Morgan County
  • Morgantown
  • Moundsville
  • Mount Gay-Shamrock
  • Mount Hope
  • Mullens
  • New Cumberland
  • New Haven
  • New Martinsville
  • Newell
  • Nicholas County
  • Nitro
  • Nutter Fort
  • Oak Hill
  • Oceana
  • Ohio County
  • Paden City
  • Parkersburg
  • Parsons
  • Pea Ridge
  • Pendleton County
  • Pennsboro
  • Petersburg
  • Philippi
  • Pinch
  • Pineville
  • Pleasant Valley
  • Pleasants County
  • Pocahontas County
  • Point Pleasant
  • Preston County
  • Princeton
  • Prosperity
  • Putnam County
  • Rainelle
  • Raleigh County
  • Rand
  • Randolph County
  • Ranson
  • Ravenswood
  • Richwood
  • Ripley
  • Ritchie County
  • Roane County
  • Romney
  • Ronceverte
  • Saint Albans
  • Saint Marys
  • Salem
  • Shady Spring
  • Shannondale
  • Shepherdstown
  • Shinnston
  • Sissonville
  • Sistersville
  • Sophia
  • South Charleston
  • Spencer
  • Stanaford
  • Star City
  • Stonewood
  • Summers County
  • Summersville
  • Sutton
  • Taylor County
  • Teays Valley
  • Terra Alta
  • Tornado
  • Tucker County
  • Tyler County
  • Union
  • Upshur County
  • Vienna
  • Washington
  • Wayne
  • Wayne County
  • Webster County
  • Webster Springs
  • Weirton
  • Weirton Heights
  • Welch
  • Wellsburg
  • West Liberty
  • West Union
  • Weston
  • Westover
  • Wetzel County
  • Wheeling
  • White Sulphur Springs
  • Wiley Ford
  • Williamson
  • Williamstown
  • Winfield
  • Wirt County
  • Wood County
  • Wyoming County

Commercial Loan FAQs in West Virginia

Multifamily interest rates in West Virginia vary based on loan type, property type, loan-to-value, debt service coverage ratio, borrower strength, and market conditions. They range from approximately 4.93% to 12.95%.

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

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

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