Cranberry is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cranberry are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cranberry are competitive. Cranberry apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Cranberry.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cranberry are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.68% - 6.92% |
| 10 Year Fixed | 6.64% - 6.88% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Cranberry.
The city of Cranberry in Butler County has a population of 30,875. The median rent in Butler County for a 2 bedroom is $1,022. The median Cranberry resident is 40 years old with a yearly income of $51,093. The average family has 3.03 members and a median household income of $106,024. Cranberry has a 59% higher education rate. The unemployment rate in Cranberry is 3.1%.
21.3% of Cranberry households are renters.
20.9% median household income spent on rent.
Bedrooms |
Butler County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $776 | $680 | $737 |
| 1 bedroom | $839 | $747 | $813 |
| 2 bedroom | $1,022 | $929 | $1,015 |
| 3 bedroom | $1,311 | $1,198 | $1,325 |
| 4 bedroom | $1,436 | $1,330 | $1,521 |
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