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Multifamily Loans in
Boardman, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Boardman, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Boardman 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 3.29% - 3.54%
7 Year Fixed 3.53% - 3.98%
10 Year Fixed 3.49% - 3.89%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Boardman 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 Nov 26, 2021


Multifamily Lenders in Boardman, OH

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


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 Nov 26, 2021


Boardman Market

The city of Boardman in Mahoning County has a population of 34,431. The median rent in Mahoning County for a 2 bedroom is $734. The median Boardman resident is 43 years old with a yearly income of $30,714. The average family has 2.94 members and a median household income of $55,813. Boardman has a 32% higher education rate. The unemployment rate in Boardman is 6.0%.


Population
34,431 people

County
Mahoning County

Renters

33.6% of Boardman households are renters.


Rent Burden

25.1% 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

Boardman Demographics


Median Individual Income
$30,714 / year

Median Household Income
$55,813 / year

Families w/ Dual Incomes
54%

Unemployment Rate
6.0%
Household Income Distribution
Boardman, OH

Median Age
43 years

Avg Family Size
2.94 people
Age Distribution
Boardman, OH

College Education or Above
32%

STEM College Graduates
38%
Education Distribution
Boardman, OH
Source: U.S. Census Bureau

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