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Multifamily Loans in
Columbus, IN

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Columbus, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Columbus 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 3.15% - 3.40%
7 Year Fixed 3.35% - 3.80%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Columbus 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 02, 2021


Multifamily Lenders in Columbus, IN

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


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 02, 2021


Columbus Market

The city of Columbus in Bartholomew County has a population of 48,046. The median rent in Bartholomew County for a 2 bedroom is $969. The median Columbus resident is 35 years old with a yearly income of $31,975. The average family has 3.2 members and a median household income of $63,405. Columbus has a 41% higher education rate. The unemployment rate in Columbus is 4.1%.


Population
48,046 people

County
Bartholomew County

Renters

38.1% of Columbus households are renters.


Rent Burden

26.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Bartholomew County 1
Indiana 2
National 2
Studio $817 $593 $737
1 bedroom $822 $666 $813
2 bedroom $969 $840 $1,015
3 bedroom $1,270 $1,099 $1,325
4 bedroom $1,432 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Columbus Demographics


Median Individual Income
$31,975 / year

Median Household Income
$63,405 / year

Families w/ Dual Incomes
51%

Unemployment Rate
4.1%
Household Income Distribution
Columbus, IN

Median Age
35 years

Avg Family Size
3.2 people
Age Distribution
Columbus, IN

College Education or Above
41%

STEM College Graduates
58%
Education Distribution
Columbus, IN
Source: U.S. Census Bureau

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