Texas built more apartments over the last few years than almost anywhere in the country, and owners spent a long stretch competing with the buildings going up down the street. 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+
For a few years, it felt like every open field along a Texas highway was turning into a garden apartment community. Dallas-Fort Worth, Austin, Houston, and San Antonio all delivered new buildings at a pace the state had not seen in decades, and they all went looking for the same renters at the same time. Asking rents flattened, concessions spread, and some suburban lease-ups were giving away weeks of free rent just to fill units.
That wave is finally passing. New deliveries across Texas have fallen to multi-year lows in 2026, construction in Dallas-Fort Worth has been shrinking for close to three years, and Houston is seeing its steadiest apartment fundamentals since before the pandemic. The buildings that held their tenants through the toughest stretch are the ones in the strongest position to refinance, pull cash out, or move to interest-only payments while rents recover.
Capituro reviews loan requests for Texas apartment buildings, multifamily portfolios, and commercial property across the state. We spend our time on the property 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 Texas details we would rather talk through at the start than discover halfway in.
Texas has no state income tax, and property taxes do a lot of the work instead. For an apartment building, the tax bill is often one of the largest lines on the operating statement, and it can move every year with the appraisal. Owners who protest their values each spring know the drill. We start from the current bill and where the appraisal is heading, not last year's number.
Hurricanes along the Gulf Coast, hail across North Texas, and the memory of the 2021 winter storm have all pushed apartment insurance costs up sharply in recent years. A current quote on the building, with the actual deductible and the wind and hail terms, keeps everyone working from the same expense line.
Plenty of Texas buildings, especially newer suburban communities, are still offering free rent on new leases. The rent that counts is what tenants actually pay after concessions, so that is the number we start with.
Have a Texas building in mind?
Send the numbersA Texas apartment building can need different debt at different points in its life. A bridge loan can carry a property through lease-up or a renovation, 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 Texas apartment building, often with more cash out than an amortizing loan allows.
Read program detailsLong-term financing for Texas apartment buildings from 5 units to 300+, from a garden community in Arlington to a mid-rise in Houston's Inner Loop.
Read program detailsFor 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, mixed use, 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 still burning off concessions, finishing a renovation, or working through lease-up, until the rent roll is ready for a long-term loan.
Read program detailsFor stabilized Texas rentals with one to four units, from a duplex in Austin to a fourplex in San Antonio.
Read program detailsDallas-Fort Worth added apartments faster than almost any metro in the country, and the outer suburbs are still handing out free rent to fill new buildings. Closer in, from Uptown to the older garden communities in Arlington and Irving, buildings with long-term tenants have held up well, and occupancy across the metro has been climbing back through 2026.
Houston never overbuilt quite the way the other big Texas metros did, and it shows. Apartment fundamentals there are the strongest they have been since before the pandemic. The conversation in Houston usually comes back to insurance and flood history, so we like to see both early.
Austin had the biggest boom and the hardest landing, with rents sliding for a long stretch as new towers and suburban communities opened together. Renters have been filling those buildings faster than new ones are arriving, and owners who held on are starting to see the other side of it.
San Antonio is the most affordable of the big four, with deep military and healthcare employment and a large stock of older garden apartments. It is still working through its own supply, which makes the condition of the building and the strength of the rent roll matter more than ever.
We review deals across all of Texas, including cities not listed here.
Two hundred units, long-term tenants, and an owner who has paid the loan down for years. The building rode out the supply wave without giving away the store, and now the owner wants some of that equity back. An interest-only loan with cash out can change how the building pays without selling it.
The rents are fine and the occupancy is fine, but the insurance renewal changed the math. Sometimes the right answer is restructuring the debt so the payment fits the building as it operates today, and that is a conversation worth having before anything else.
The building is nearly full, but the free rent is still in the rent roll. Sometimes a long-term loan works today, and sometimes it is a bridge loan now and a long-term loan once the concessions are gone. We would rather lay out both than force one.
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 Dallas-Fort Worth, Houston, Austin, San Antonio, El Paso, and Central Texas. If the building is in Texas, we are happy to look at it.
Most of the apartment loans we review in Texas 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, mixed use, daycare, automotive, light industrial, and assisted living property across Texas 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.
Often, yes. We start with the rent tenants are actually paying after concessions. If the building is close to stabilized, a long-term loan may work today. If not, a bridge loan can carry it until the free rent burns off.
They matter a lot. With no state income tax, property taxes are usually one of the biggest expenses on a Texas apartment building, and they can change each year with the appraisal. We work from the current tax bill and where the value is heading, so the payment fits the building as it really operates.
Yes. We review DSCR loans on 1 to 4 unit rentals statewide, from a duplex in Austin to a fourplex in San Antonio.
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