Commercial Loan Direct (CLD) provides commercial real estate loans in Colorado. Current commercial loan rates in Colorado range from 5.09% to 12.85% depending on the loan program.
Colorado 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 | 4.97% - 6.32% | 83.3% | $5,000,000+ |
| Conduit / CMBS | 5.73% - 7.66% | 75% | $2,000,000+ |
| Insurance | 5.23% - 8.5% | 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 | 5.09% - 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 affectthe displayed commercial loan rates. Commercial loan rates may change at any time and without notice.
Ready to Get a Multifamily Loan Quote in Colorado?
Colorado Interest Rates starting at 5.09%. Tell us about your property and financing goals. We will match your request with lending options based on program fit and current market conditions.
Get a QuoteAdditional Multifamily Types
Additional Multifamily Mortgages
- Affordable Housing Financing
- Student Housing Financing
- Military Housing
- Manufactured Housing Financing
- Seniors Housing Financing
- Cooperative Housing
Locations Served in Colorado
We are proud to be serving the state of Colorado. Here are our commercial loan statistics for this state.
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The Colorado multifamily market in 2026 has entered a disciplined "recalibration phase." After a significant influx of new supply in 2024 and 2025, particularly in the Denver Metro area, vacancy rates have stabilized around 7%. Financing activity is now pivoting away from high-end luxury builds and toward middle-income (workforce) housing and transit-oriented development (TOD), supported by aggressive new state-level incentives and a cooling interest rate environment.
Key Financing Sources and Programs
Colorado offers a unique "stack" of capital, combining traditional federal agency debt with innovative state equity and concessionary loan funds.
- Colorado Housing and Finance Authority (CHFA): The state’s primary engine. CHFA offers the SMART Program (Sizeable Multifamily Affordable Risk Share Tool), which provides up to 40-year fixed-rate permanent financing. As of early 2026, SMART loans are attractive for both LIHTC and non-LIHTC projects due to streamlined HUD risk-share processing.
- Proposition 123 Funds: A major market driver in 2026. This voter-approved fund provides Concessionary Debt at fixed rates as low as 2.5% for projects serving residents at or below 60% AMI. In January 2026, CHFA announced a new round of selections for these funds, focusing on "shovel-ready" projects.
- Middle-Income Access Program (MIAP): Designed to fill the "missing middle" gap. This program provides gap financing for developments targeting households earning 80% to 120% AMI, a critical focus for 2026 as market-rate rents in cities like Boulder and Fort Collins remain high.
- Affordable Housing in Transit-Oriented Communities Tax Credit: Under HB24-1434, $2,000,000 in credits is available for the 2026 calendar year. This credit features an "accelerated" claim structure, allowing developers to claim 70% of the credit in the first year to improve upfront project liquidity.
Market Trends and Economic Drivers
Lenders and investors are prioritizing "Class B" value-add and suburban military-stabilized submarkets:
- Shift to Value-Add: In Denver, financing for new construction is scarce, but capital is flowing into 1980s/90s vintage stock. Successful "value-add" plays in 2026 typically involve $20,000–$30,000 per unit in renovations to capture rent premiums of $400–$500.
- Transit-Oriented Density: New 2026 legislation (HB26-1001) is streamlining approvals for residential projects on land owned by nonprofits, schools, and transit agencies, preempting local zoning height restrictions up to three stories.
- Regional Strength: While Denver navigates a supply glut, Colorado Springs remains a lender favorite due to stable military demand, and Grand Junction is emerging as a high-yield destination for "small multifamily" deals (2–20 units).
- Operating Expense Hurdles: Wildfire insurance premiums and rising HOA fees in mountain and WUI (Wildland-Urban Interface) zones have become "deal-killers." Lenders are requiring more rigorous insurance due diligence in Boulder and Summit counties before issuing commitments.
Lending Cities
Commercial loan direct provides services in the following Colorado 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.
- Acres Green
- Adams County
- Air Force Academy
- Akron
- Alamosa
- Alamosa County
- Alamosa East
- Applewood
- Arapahoe County
- Archuleta County
- Aristocrat Ranchettes
- Arvada
- Aspen
- Ault
- Aurora
- Avon
- Baca County
- Basalt
- Battlement Mesa
- Bayfield
- Bennett
- Bent County
- Berkley
- Berthoud
- Black Forest
- Boulder
- Boulder County
- Breckenridge
- Brighton
- Broomfield
- Broomfield County
- Brush
- Buena Vista
- Burlington
- Byers
- Campion
- Cañon City
- Carbondale
- Carriage Club
- Cascade-Chipita Park
- Castle Pines
- Castle Pines North
- Castle Rock
- Castlewood
- Cedaredge
- Centennial
- Center
- Central City
- Chaffee County
- Cherry Creek
- Cherry Hills Village
- Cheyenne County
- Cheyenne Wells
- Cimarron Hills
- Clear Creek County
- Clifton
- Coal Creek
- Colorado City
- Colorado Springs
- Columbine
- Columbine Valley
- Commerce City
- Conejos
- Conejos County
- Cortez
- Costilla County
- Craig
- Creede
- Crested Butte
- Cripple Creek
- Crowley County
- Custer County
- Dacono
- Del Norte
- Delta
- Delta County
- Denver
- Denver County
- Derby
- Dolores County
- Douglas County
- Dove Creek
- Dove Valley
- Durango
- Eads
- Eagle
- Eagle County
- Eaton
- Edgewater
- Edwards
- El Jebel
- El Paso County
- Elbert County
- Elizabeth
- Ellicott
- Englewood
- Erie
- Estes Park
- Evans
- Evergreen
- Fairplay
- Federal Heights
- Firestone
- Florence
- Fort Carson
- Fort Collins
- Fort Lupton
- Fort Morgan
- Fountain
- Fowler
- Fraser
- Frederick
- Fremont County
- Frisco
- Fruita
- Fruitvale
- Garfield County
- Genesee
- Georgetown
- Gilcrest
- Gilpin County
- Glendale
- Gleneagle
- Glenwood Springs
- Golden
- Granby
- Grand County
- Grand Junction
- Greeley
- Greenwood Village
- Gunbarrel
- Gunnison
- Gunnison County
- Gypsum
- Hayden
- Highlands Ranch
- Hinsdale County
- Holly Hills
- Holyoke
- Hot Sulphur Springs
- Hudson
- Huerfano County
- Hugo
- Idaho Springs
- Indian Hills
- Inverness
- Jackson County
- Jefferson County
- Johnstown
- Julesburg
- Keenesburg
- Ken Caryl
- Kersey
- Keystone
- Kiowa
- Kiowa County
- Kit Carson County
- Kittredge
- Kremmling
- La Junta
- La Plata County
- La Salle
- Lafayette
- Lake City
- Lake County
- Lakewood
- Lamar
- Laporte
- Larimer County
- Las Animas
- Las Animas County
- Leadville
- Leadville North
- Limon
- Lincoln County
- Lincoln Park
- Littleton
- Lochbuie
- Logan County
- Loma
- Lone Tree
- Longmont
- Louisville
- Loveland
- Lyons
- Mancos
- Manitou Springs
- Mead
- Meeker
- Meridian
- Mesa County
- Milliken
- Mineral County
- Minturn
- Moffat County
- Monte Vista
- Montezuma County
- Montrose
- Montrose County
- Monument
- Morgan County
- Mountain Village
- Nederland
- New Castle
- Niwot
- Northglenn
- Olathe
- Orchard City
- Orchard Mesa
- Ordway
- Otero County
- Ouray
- Ouray County
- Pagosa Springs
- Palisade
- Palmer Lake
- Paonia
- Parachute
- Park County
- Parker
- Penrose
- Perry Park
- Phillips County
- Pitkin County
- Platteville
- Ponderosa Park
- Prowers County
- Pueblo
- Pueblo County
- Pueblo West
- Rangely
- Redlands
- Rifle
- Rio Blanco County
- Rio Grande County
- Rocky Ford
- Routt County
- Roxborough Park
- Saguache
- Saguache County
- Salida
- San Juan County
- San Luis
- San Miguel County
- Security-Widefield
- Sedgwick County
- Severance
- Shaw Heights
- Sheridan
- Sherrelwood
- Silt
- Silverthorne
- Silverton
- Snowmass Village
- Southglenn
- Springfield
- Steamboat Springs
- Sterling
- Stonegate
- Strasburg
- Stratmoor
- Summit County
- Superior
- Teller County
- Telluride
- The Pinery
- Thornton
- Todd Creek
- Towaoc
- Trinidad
- Twin Lakes
- Upper Bear Creek
- Vail
- Walden
- Walsenburg
- Washington County
- Welby
- Weld County
- Wellington
- West Pleasant View
- Westcliffe
- Westminster
- Wheat Ridge
- Windsor
- Woodland Park
- Woodmoor
- Wray
- Yuma
- Yuma County
