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Multifamily Loans in
Coralville, IA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Coralville, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Coralville 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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Coralville 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 08, 2021


Multifamily Lenders in Coralville, IA

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


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 08, 2021


Coralville Market

The city of Coralville in Johnson County has a population of 22,290. The median rent in Johnson County for a 2 bedroom is $1,112. The median Coralville resident is 32 years old with a yearly income of $32,971. The average family has 3.11 members and a median household income of $60,321. Coralville has a 56% higher education rate. The unemployment rate in Coralville is 3.1%.


Population
22,290 people

County
Johnson County

Renters

49.4% of Coralville households are renters.


Rent Burden

31.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Johnson County 1
Iowa 2
National 2
Studio $789 $558 $737
1 bedroom $862 $613 $813
2 bedroom $1,112 $785 $1,015
3 bedroom $1,591 $1,038 $1,325
4 bedroom $1,925 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Coralville Demographics


Median Individual Income
$32,971 / year

Median Household Income
$60,321 / year

Families w/ Dual Incomes
68%

Unemployment Rate
3.1%
Household Income Distribution
Coralville, IA

Median Age
32 years

Avg Family Size
3.11 people
Age Distribution
Coralville, IA

College Education or Above
56%

STEM College Graduates
55%
Education Distribution
Coralville, IA
Source: U.S. Census Bureau

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