Ardmore is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Ardmore are considered greater risk due to market dynamics. Interest rates for multifamily loans in Ardmore are higher than the national average. Ardmore 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 Ardmore.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ardmore are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.18% |
| 7 Year Fixed | 6.09% - 6.24% |
| 10 Year Fixed | 6.09% - 6.24% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Ardmore.
The city of Ardmore in Carter County has a population of 24,698. The median rent in Carter County for a 2 bedroom is $846. The median Ardmore resident is 37 years old with a yearly income of $25,913. The average family has 3.25 members and a median household income of $47,860. Ardmore has a 22% higher education rate. The unemployment rate in Ardmore is 6.4%.
42.2% of Ardmore households are renters.
28.4% median household income spent on rent.
Bedrooms |
Carter County 1 |
Oklahoma 2 |
National 2 |
|---|---|---|---|
| Studio | $696 | $589 | $737 |
| 1 bedroom | $703 | $623 | $813 |
| 2 bedroom | $846 | $790 | $1,015 |
| 3 bedroom | $1,052 | $1,041 | $1,325 |
| 4 bedroom | $1,228 | $1,191 | $1,521 |
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