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Multifamily Loans in
Alliance, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Alliance, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alliance 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Alliance 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 08, 2021


Multifamily Lenders in Alliance, OH

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


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 08, 2021


Alliance Market

The city of Alliance in Stark County has a population of 21,446. The median rent in Stark County for a 2 bedroom is $795. The median Alliance resident is 35 years old with a yearly income of $20,353. The average family has 2.94 members and a median household income of $35,718. Alliance has a 19% higher education rate. The unemployment rate in Alliance is 7.1%.


Population
21,446 people

County
Stark County

Renters

51.5% of Alliance households are renters.


Rent Burden

30.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Stark County 1
Ohio 2
National 2
Studio $525 $597 $737
1 bedroom $603 $662 $813
2 bedroom $795 $834 $1,015
3 bedroom $1,014 $1,084 $1,325
4 bedroom $1,078 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Alliance Demographics


Median Individual Income
$20,353 / year

Median Household Income
$35,718 / year

Families w/ Dual Incomes
46%

Unemployment Rate
7.1%
Household Income Distribution
Alliance, OH

Median Age
35 years

Avg Family Size
2.94 people
Age Distribution
Alliance, OH

College Education or Above
19%

STEM College Graduates
39%
Education Distribution
Alliance, OH
Source: U.S. Census Bureau

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