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Multifamily Loans in
Chillicothe, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Chillicothe, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chillicothe 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 3.34% - 3.59%
7 Year Fixed 3.58% - 4.03%
10 Year Fixed 3.54% - 3.94%
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 Chillicothe 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 Chillicothe, OH

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


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


Chillicothe Market

The city of Chillicothe in Ross County has a population of 21,722. The median rent in Ross County for a 2 bedroom is $841. The median Chillicothe resident is 41 years old with a yearly income of $25,579. The average family has 2.86 members and a median household income of $44,323. Chillicothe has a 20% higher education rate. The unemployment rate in Chillicothe is 5.9%.


Population
21,722 people

County
Ross County

Renters

42.9% of Chillicothe households are renters.


Rent Burden

30.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ross County 1
Ohio 2
National 2
Studio $654 $597 $737
1 bedroom $661 $662 $813
2 bedroom $841 $834 $1,015
3 bedroom $1,046 $1,084 $1,325
4 bedroom $1,140 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Chillicothe Demographics


Median Individual Income
$25,579 / year

Median Household Income
$44,323 / year

Families w/ Dual Incomes
43%

Unemployment Rate
5.9%
Household Income Distribution
Chillicothe, OH

Median Age
41 years

Avg Family Size
2.86 people
Age Distribution
Chillicothe, OH

College Education or Above
20%

STEM College Graduates
37%
Education Distribution
Chillicothe, OH
Source: U.S. Census Bureau

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