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Multifamily Loans in
Ashland, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Ashland, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ashland 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
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 Ashland 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 Ashland, OH

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


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


Ashland Market

The city of Ashland in Ashland County has a population of 20,275. The median rent in Ashland County for a 2 bedroom is $795. The median Ashland resident is 36 years old with a yearly income of $22,544. The average family has 2.99 members and a median household income of $47,869. Ashland has a 27% higher education rate. The unemployment rate in Ashland is 3.0%.


Population
20,275 people

County
Ashland County

Renters

39.5% of Ashland households are renters.


Rent Burden

26% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ashland County 1
Ohio 2
National 2
Studio $525 $597 $737
1 bedroom $603 $662 $813
2 bedroom $795 $834 $1,015
3 bedroom $1,015 $1,084 $1,325
4 bedroom $1,278 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ashland Demographics


Median Individual Income
$22,544 / year

Median Household Income
$47,869 / year

Families w/ Dual Incomes
51%

Unemployment Rate
3.0%
Household Income Distribution
Ashland, OH

Median Age
36 years

Avg Family Size
2.99 people
Age Distribution
Ashland, OH

College Education or Above
27%

STEM College Graduates
41%
Education Distribution
Ashland, OH
Source: U.S. Census Bureau

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