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Multifamily Loans in
Cranberry, PA

Overview

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.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Cranberry, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cranberry 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 $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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®
$7.5M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
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 Cranberry 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 Cranberry, PA

All major multifamily lender types are lending in Cranberry.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Cranberry Market

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%.


Population
30,875 people

County
Butler County

Renters

21.3% of Cranberry households are renters.


Rent Burden

20.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Cranberry Demographics


Median Individual Income
$51,093 / year

Median Household Income
$106,024 / year

Families w/ Dual Incomes
62%

Unemployment Rate
3.1%
Household Income Distribution
Cranberry, PA

Median Age
40 years

Avg Family Size
3.03 people
Age Distribution
Cranberry, PA

College Education or Above
59%

STEM College Graduates
48%
Education Distribution
Cranberry, PA
Source: U.S. Census Bureau

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