Pennsylvania has some of the oldest apartment buildings in the country and some of the most loyal tenants, and a lot of owners have been holding the same buildings for decades. We review apartment, multifamily, and commercial loans across the state, with interest-only and cash out options for owners who want their buildings working harder.
Apartment and commercial loans from $1 million to $30 million+
About a quarter of the homes in Pennsylvania were built before 1940, and you can see it in every city in the state. Philadelphia is a rowhouse town where whole blocks were converted into apartments generations ago, Pittsburgh's neighborhoods climb the hills in brick, and the small cities in between are built around downtown buildings with shops on the ground floor and apartments above.
That history creates a particular kind of owner. Plenty of Pennsylvania buildings have been in the same family or the same partnership for twenty or thirty years, with the old loan long since paid down. In Philadelphia, a sale now carries a combined realty transfer tax of more than four and a half percent, so for a lot of those owners, pulling equity out with a refinance makes more sense than selling a building they would rather keep.
Capituro reviews loan requests for Pennsylvania apartment buildings, multifamily portfolios, mixed use, and commercial property. We spend our time on the building and on what the owner wants the loan to do.
Capituro helps investors close business-purpose financing on multifamily and commercial property. Programs are not available for owner-occupied residential property. Terms and availability vary by deal and can change without notice.
None of these are deal killers. They are the Pennsylvania details we would rather talk through at the start than discover halfway in.
A building from the 1920s can be a wonderful asset, but roofs, boilers, and electrical systems come up in every conversation about it. Owners who can show what has been replaced and when tend to have a much easier time, so a simple list of recent capital work goes a long way.
Every Philadelphia rental needs a city rental license and a Certificate of Rental Suitability, and units rented to families with young children need lead-safe or lead-free certification. Buildings that keep those current are simpler to refinance, so it helps to have them handy.
From Main Street in a small borough to a corner building in South Philadelphia, a lot of Pennsylvania apartments sit above a shop, a restaurant, or an office. These buildings combine residential and commercial leases under one roof, and that is exactly the kind of property where choosing the right program matters most.
Have a Pennsylvania building in mind?
Send the numbersA Pennsylvania apartment building can need different debt at different points in its life. A bridge loan can carry a property through a renovation or a lease-up, and a long-term apartment loan can take over once it is stabilized. When that is the plan, we look at both steps together from the start.
Interest-only payments for up to the full term on a stabilized apartment building, often with more cash out than an amortizing loan allows.
Read program detailsLong-term financing for Pennsylvania apartment buildings from 5 units to 300+, from a converted block of rowhouses in Philadelphia to a garden community outside Pittsburgh.
Read program detailsFor long-term owners who want to put the equity in a stabilized apartment or commercial building to work, up to 75% LTV on a refinance.
Read program detailsFor retail, office, warehouse, self storage, daycare, automotive, light industrial, and assisted living property where the leases and occupancy support a purchase, refinance, or cash out.
Read program detailsFor a building in transition, whether that means a renovation, a lease-up, tenant rollover, or a purchase that needs to close before long-term financing makes sense.
Read program detailsFor Pennsylvania buildings with shops, restaurants, or offices on the ground floor and apartments above, from a Main Street storefront to a corner building in the city.
Read program detailsWe also review 1 to 4 unit rentals across Pennsylvania.
See DSCR loansPhiladelphia delivered a wave of new apartments in the last few years, most of it in the urban core, and the city absorbed it better than a lot of people expected. By the middle of 2026, the gap between city and suburban vacancy was the narrowest it had been since 2019, and new permits have trailed completions for three straight years. The rowhouse conversions and older mid-rises that held their tenants through all of it are where refinances are coming together.
Pittsburgh traded steel for hospitals and universities a long time ago. UPMC, the University of Pittsburgh, Carnegie Mellon, and Highmark Health keep a steady stream of doctors, nurses, researchers, and graduate students looking for apartments in Oakland, Shadyside, and the neighborhoods around them, and that kind of demand does not move much from one year to the next.
The Lehigh Valley turned its spot along Interstate 78 into one of the busiest warehouse and distribution markets in the country, and thousands of those jobs came with workers who need somewhere to live. Allentown, Bethlehem, and Easton have the older downtown buildings and the newer garden communities to prove it.
Harrisburg, Lancaster, and the towns around them run on state government, health systems, and some of the strongest small downtowns in the state. Lancaster in particular is full of brick mixed use buildings, with shops at street level and apartments upstairs, that rarely sit empty for long.
We review deals across all of Pennsylvania, including cities not listed here.
The loan is small or gone, the tenants have been there for years, and selling would mean handing a large share of the price to transfer taxes. An interest-only loan with cash out lets the owner put that equity to work and keep the building that earned it.
Oakland, Shadyside, and Squirrel Hill buildings tend to stay full because the people who work and study nearby keep coming. A stabilized building like that is a natural fit for a long-term apartment loan, and often for interest-only payments that keep more of the monthly income with the owner.
Retail on the ground floor, apartments upstairs, in a downtown like Lancaster, Bethlehem, or Harrisburg. These buildings do not fit neatly into one box, and that is the kind of property where choosing the right program makes the biggest difference.
You do not need a polished package to start. A few lines through the contact form with the address, the unit count, and what you want the loan to do is enough for us to tell you whether it is worth a real conversation. If you have a rent roll and operating statement handy, send those too.
Yes. We review apartment and multifamily loans across the state, including Philadelphia, Pittsburgh, Allentown, Bethlehem, Harrisburg, Lancaster, and Scranton. If the building is in Pennsylvania, we are happy to look at it.
Most of the apartment loans we review in Pennsylvania run from $1 million to $30 million and up, on buildings from 5 units to more than 300.
Yes. We review retail, office, warehouse, self storage, daycare, automotive, light industrial, and assisted living property across Pennsylvania for purchases, refinances, and cash out.
Yes. Interest-only payments for up to the full term are available on stabilized apartment buildings, and they are often paired with a cash out refinance so the owner keeps more of the building's monthly income.
Our programs go up to 75% LTV on a refinance. The building's income still has to support the new payment, so the real answer depends on the rent roll, the expenses, and what the building is worth today.
Not by itself. Pennsylvania is full of older buildings that perform very well. What matters is the condition of the roof, the mechanical systems, and the electrical, so a list of recent capital work and when it was done makes the conversation much easier.
Yes. Buildings with retail or offices on the ground floor and apartments above are common across the state, from Philadelphia corners to Main Street in smaller cities, and we review them for purchases, refinances, and cash out.
Yes. We review DSCR loans on 1 to 4 unit rentals statewide, from a Philadelphia duplex to a fourplex in Central Pennsylvania.
Send the address, the unit count, and what you want the loan to accomplish. We will take a look and tell you how we would approach it.
Send the numbers