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Multifamily Loans in
Austintown, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Austintown, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Austintown 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 Austintown 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 Austintown, OH

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


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


Austintown Market

The city of Austintown in Mahoning County has a population of 28,488. The median rent in Mahoning County for a 2 bedroom is $734. The median Austintown resident is 43 years old with a yearly income of $26,655. The average family has 2.77 members and a median household income of $45,242. Austintown has a 20% higher education rate. The unemployment rate in Austintown is 6.3%.


Population
28,488 people

County
Mahoning County

Renters

38% of Austintown households are renters.


Rent Burden

26.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Mahoning County 1
Ohio 2
National 2
Studio $511 $597 $737
1 bedroom $585 $662 $813
2 bedroom $734 $834 $1,015
3 bedroom $966 $1,084 $1,325
4 bedroom $1,036 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Austintown Demographics


Median Individual Income
$26,655 / year

Median Household Income
$45,242 / year

Families w/ Dual Incomes
50%

Unemployment Rate
6.3%
Household Income Distribution
Austintown, OH

Median Age
43 years

Avg Family Size
2.77 people
Age Distribution
Austintown, OH

College Education or Above
20%

STEM College Graduates
34%
Education Distribution
Austintown, OH
Source: U.S. Census Bureau

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