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Multifamily Loans in
Barberton, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Barberton, OH

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

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


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


Barberton Market

The city of Barberton in Summit County has a population of 25,953. The median rent in Summit County for a 2 bedroom is $911. The median Barberton resident is 41 years old with a yearly income of $23,884. The average family has 3.03 members and a median household income of $42,813. Barberton has a 15% higher education rate. The unemployment rate in Barberton is 7.6%.


Population
25,953 people

County
Summit County

Renters

39.2% of Barberton households are renters.


Rent Burden

32.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Summit County 1
Ohio 2
National 2
Studio $607 $597 $737
1 bedroom $712 $662 $813
2 bedroom $911 $834 $1,015
3 bedroom $1,147 $1,084 $1,325
4 bedroom $1,235 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Barberton Demographics


Median Individual Income
$23,884 / year

Median Household Income
$42,813 / year

Families w/ Dual Incomes
45%

Unemployment Rate
7.6%
Household Income Distribution
Barberton, OH

Median Age
41 years

Avg Family Size
3.03 people
Age Distribution
Barberton, OH

College Education or Above
15%

STEM College Graduates
46%
Education Distribution
Barberton, OH
Source: U.S. Census Bureau

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