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Multifamily Loans in
Corvallis, OR

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Corvallis, OR

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Corvallis 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 3.73% - 3.97%
7 Year Fixed 3.54% - 3.78%
10 Year Fixed 3.78% - 4.02%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Corvallis 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 04, 2021


Multifamily Lenders in Corvallis, OR

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


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 04, 2021


Corvallis Market

The city of Corvallis in Benton County has a population of 58,856. The median rent in Benton County for a 2 bedroom is $1,309. The median Corvallis resident is 27 years old with a yearly income of $21,486. The average family has 2.73 members and a median household income of $52,942. Corvallis has a 59% higher education rate. The unemployment rate in Corvallis is 6.0%.


Population
58,856 people

County
Benton County

Renters

57.3% of Corvallis households are renters.


Rent Burden

40.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Benton County 1
Oregon 2
National 2
Studio $1,003 $786 $737
1 bedroom $1,109 $891 $813
2 bedroom $1,309 $1,112 $1,015
3 bedroom $1,873 $1,569 $1,325
4 bedroom $2,266 $1,853 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Corvallis Demographics


Median Individual Income
$21,486 / year

Median Household Income
$52,942 / year

Families w/ Dual Incomes
52%

Unemployment Rate
6.0%
Household Income Distribution
Corvallis, OR

Median Age
27 years

Avg Family Size
2.73 people
Age Distribution
Corvallis, OR

College Education or Above
59%

STEM College Graduates
62%
Education Distribution
Corvallis, OR
Source: U.S. Census Bureau

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