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Multifamily Loans in
Adrian, MI

Overview

Adrian is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Adrian are considered greater risk due to market dynamics. Interest rates for multifamily loans in Adrian are higher than the national average. Adrian apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Adrian.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Adrian, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Adrian are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Adrian may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Lenders in Adrian, MI

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Adrian.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 05, 2021


Adrian Market

The city of Adrian in Lenawee County has a population of 20,600. The median rent in Lenawee County for a 2 bedroom is $850. The median Adrian resident is 35 years old with a yearly income of $20,098. The average family has 3.06 members and a median household income of $36,236. Adrian has a 18% higher education rate. The unemployment rate in Adrian is 4.2%.


Population
20,600 people

County
Lenawee County

Renters

45.8% of Adrian households are renters.


Rent Burden

31.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lenawee County 1
Michigan 2
National 2
Studio $561 $607 $737
1 bedroom $645 $678 $813
2 bedroom $850 $855 $1,015
3 bedroom $1,126 $1,118 $1,325
4 bedroom $1,235 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Adrian Demographics


Median Individual Income
$20,098 / year

Median Household Income
$36,236 / year

Families w/ Dual Incomes
38%

Unemployment Rate
4.2%
Household Income Distribution
Adrian, MI

Median Age
35 years

Avg Family Size
3.06 people
Age Distribution
Adrian, MI

College Education or Above
18%

STEM College Graduates
29%
Education Distribution
Adrian, MI
Source: U.S. Census Bureau

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