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Multifamily Loans in
Billings, MT

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Billings, MT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Billings 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 3.73% - 3.97%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Billings 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 04, 2021


Multifamily Lenders in Billings, MT

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


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 04, 2021


Billings Market

The city of Billings in Yellowstone County has a population of 109,577. The median rent in Yellowstone County for a 2 bedroom is $1,019. The median Billings resident is 37 years old with a yearly income of $31,991. The average family has 2.91 members and a median household income of $59,656. Billings has a 35% higher education rate. The unemployment rate in Billings is 3.3%.


Population
109,577 people

County
Yellowstone County

Renters

37% of Billings households are renters.


Rent Burden

28.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Yellowstone County 1
Montana 2
National 2
Studio $672 $620 $737
1 bedroom $773 $690 $813
2 bedroom $1,019 $877 $1,015
3 bedroom $1,408 $1,169 $1,325
4 bedroom $1,674 $1,370 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Billings Demographics


Median Individual Income
$31,991 / year

Median Household Income
$59,656 / year

Families w/ Dual Incomes
57%

Unemployment Rate
3.3%
Household Income Distribution
Billings, MT

Median Age
37 years

Avg Family Size
2.91 people
Age Distribution
Billings, MT

College Education or Above
35%

STEM College Graduates
43%
Education Distribution
Billings, MT
Source: U.S. Census Bureau

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