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Multifamily Loans in
Ames, IA

Overview

Ames is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Ames are considered greater risk due to market dynamics. Interest rates for multifamily loans in Ames are higher than the national average. Ames 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 Ames.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Ames, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ames 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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Ames 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 Ames, IA

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


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


Ames Market

The city of Ames in Story County has a population of 66,258. The median rent in Story County for a 2 bedroom is $954. The median Ames resident is 23 years old with a yearly income of $17,161. The average family has 2.76 members and a median household income of $48,105. Ames has a 63% higher education rate. The unemployment rate in Ames is 5.8%.


Population
66,258 people

County
Story County

Renters

59.3% of Ames households are renters.


Rent Burden

38.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Story County 1
Iowa 2
National 2
Studio $791 $558 $737
1 bedroom $794 $613 $813
2 bedroom $954 $785 $1,015
3 bedroom $1,354 $1,038 $1,325
4 bedroom $1,564 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ames Demographics


Median Individual Income
$17,161 / year

Median Household Income
$48,105 / year

Families w/ Dual Incomes
63%

Unemployment Rate
5.8%
Household Income Distribution
Ames, IA

Median Age
23 years

Avg Family Size
2.76 people
Age Distribution
Ames, IA

College Education or Above
63%

STEM College Graduates
55%
Education Distribution
Ames, IA
Source: U.S. Census Bureau

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