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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Coralville 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 Coralville.
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%.
49.4% of Coralville households are renters.
31.6% median household income spent on rent.
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 |
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