Loading...

Multifamily Loans in
Blacksburg, VA

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Blacksburg, VA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Blacksburg 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
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 3.13% - 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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Blacksburg 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 05, 2021


Multifamily Lenders in Blacksburg, VA

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


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 05, 2021


Blacksburg Market

The city of Blacksburg in Montgomery County has a population of 44,233. The median rent in Montgomery County for a 2 bedroom is $1,051. The median Blacksburg resident is 22 years old with a yearly income of $11,786. The average family has 2.97 members and a median household income of $43,173. Blacksburg has a 71% higher education rate. The unemployment rate in Blacksburg is 5.1%.


Population
44,233 people

County
Montgomery County

Renters

67.1% of Blacksburg households are renters.


Rent Burden

60.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Montgomery County 1
Virginia 2
National 2
Studio $854 $833 $737
1 bedroom $922 $897 $813
2 bedroom $1,051 $1,072 $1,015
3 bedroom $1,504 $1,423 $1,325
4 bedroom $1,820 $1,680 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Blacksburg Demographics


Median Individual Income
$11,786 / year

Median Household Income
$43,173 / year

Families w/ Dual Incomes
55%

Unemployment Rate
5.1%
Household Income Distribution
Blacksburg, VA

Median Age
22 years

Avg Family Size
2.97 people
Age Distribution
Blacksburg, VA

College Education or Above
71%

STEM College Graduates
67%
Education Distribution
Blacksburg, VA
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