Clinton is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Clinton are considered greater risk due to market dynamics. Interest rates for multifamily loans in Clinton are higher than the national average. Clinton 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 Clinton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Clinton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.18% |
| 7 Year Fixed | 6.09% - 6.24% |
| 10 Year Fixed | 6.09% - 6.24% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Clinton.
The city of Clinton in Clinton County has a population of 25,093. The median rent in Clinton County for a 2 bedroom is $851. The median Clinton resident is 41 years old with a yearly income of $27,039. The average family has 2.91 members and a median household income of $44,094. Clinton has a 18% higher education rate. The unemployment rate in Clinton is 5.7%.
32.7% of Clinton households are renters.
31.9% median household income spent on rent.
Bedrooms |
Clinton County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $585 | $558 | $737 |
| 1 bedroom | $653 | $613 | $813 |
| 2 bedroom | $851 | $785 | $1,015 |
| 3 bedroom | $1,062 | $1,038 | $1,325 |
| 4 bedroom | $1,154 | $1,151 | $1,521 |
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