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Multifamily Loans in
Cape Girardeau, MO

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Cape Girardeau, MO

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cape Girardeau 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 3.13% - 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 Cape Girardeau 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 Cape Girardeau, MO

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


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


Cape Girardeau Market

The city of Cape Girardeau in Cape Girardeau County has a population of 40,559. The median rent in Cape Girardeau County for a 2 bedroom is $848. The median Cape Girardeau resident is 33 years old with a yearly income of $24,310. The average family has 3.03 members and a median household income of $45,733. Cape Girardeau has a 35% higher education rate. The unemployment rate in Cape Girardeau is 4.4%.


Population
40,559 people

County
Cape Girardeau County

Renters

46.9% of Cape Girardeau households are renters.


Rent Burden

33% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cape Girardeau County 1
Missouri 2
National 2
Studio $564 $535 $737
1 bedroom $643 $594 $813
2 bedroom $848 $761 $1,015
3 bedroom $1,214 $1,010 $1,325
4 bedroom $1,277 $1,155 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cape Girardeau Demographics


Median Individual Income
$24,310 / year

Median Household Income
$45,733 / year

Families w/ Dual Incomes
53%

Unemployment Rate
4.4%
Household Income Distribution
Cape Girardeau, MO

Median Age
33 years

Avg Family Size
3.03 people
Age Distribution
Cape Girardeau, MO

College Education or Above
35%

STEM College Graduates
40%
Education Distribution
Cape Girardeau, MO
Source: U.S. Census Bureau

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