Loading...

Multifamily Loans in
Beloit, WI

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Beloit, WI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Beloit 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 3.15% - 3.40%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Beloit 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 02, 2021


Multifamily Lenders in Beloit, WI

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


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 02, 2021


Beloit Market

The city of Beloit in Rock County has a population of 36,926. The median rent in Rock County for a 2 bedroom is $907. The median Beloit resident is 34 years old with a yearly income of $24,541. The average family has 3.15 members and a median household income of $43,651. Beloit has a 17% higher education rate. The unemployment rate in Beloit is 8.8%.


Population
36,926 people

County
Rock County

Renters

42.1% of Beloit households are renters.


Rent Burden

29.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Rock County 1
Wisconsin 2
National 2
Studio $684 $595 $737
1 bedroom $688 $668 $813
2 bedroom $907 $856 $1,015
3 bedroom $1,208 $1,127 $1,325
4 bedroom $1,230 $1,256 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Beloit Demographics


Median Individual Income
$24,541 / year

Median Household Income
$43,651 / year

Families w/ Dual Incomes
42%

Unemployment Rate
8.8%
Household Income Distribution
Beloit, WI

Median Age
34 years

Avg Family Size
3.15 people
Age Distribution
Beloit, WI

College Education or Above
17%

STEM College Graduates
36%
Education Distribution
Beloit, WI
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day