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Multifamily Loans in
Ann Arbor, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Ann Arbor, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ann Arbor 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Ann Arbor 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 Ann Arbor, MI

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


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


Ann Arbor Market

The city of Ann Arbor in Washtenaw County has a population of 119,980. The median rent in Washtenaw County for a 2 bedroom is $1,374. The median Ann Arbor resident is 28 years old with a yearly income of $32,412. The average family has 2.82 members and a median household income of $65,745. Ann Arbor has a 76% higher education rate. The unemployment rate in Ann Arbor is 3.9%.


Population
119,980 people

County
Washtenaw County

Renters

54.8% of Ann Arbor households are renters.


Rent Burden

34.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washtenaw County 1
Michigan 2
National 2
Studio $1,118 $607 $737
1 bedroom $1,134 $678 $813
2 bedroom $1,374 $855 $1,015
3 bedroom $1,732 $1,118 $1,325
4 bedroom $2,057 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ann Arbor Demographics


Median Individual Income
$32,412 / year

Median Household Income
$65,745 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.9%
Household Income Distribution
Ann Arbor, MI

Median Age
28 years

Avg Family Size
2.82 people
Age Distribution
Ann Arbor, MI

College Education or Above
76%

STEM College Graduates
61%
Education Distribution
Ann Arbor, MI
Source: U.S. Census Bureau

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