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Multifamily Loans in
Eastpointe, MI

Overview

Eastpointe is located in a good market for 5+ unit multifamily loans. Multifamily loans in Eastpointe are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Eastpointe are competitive. Eastpointe 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 Eastpointe.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Eastpointe, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Eastpointe 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 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Eastpointe 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 05, 2021


Multifamily Lenders in Eastpointe, MI

All major multifamily lender types are lending in Eastpointe.


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 05, 2021


Eastpointe Market

The city of Eastpointe in Macomb County has a population of 32,081. The median rent in Macomb County for a 2 bedroom is $1,126. The median Eastpointe resident is 37 years old with a yearly income of $27,342. The average family has 3.17 members and a median household income of $49,849. Eastpointe has a 15% higher education rate. The unemployment rate in Eastpointe is 8.3%.


Population
32,081 people

County
Macomb County

Renters

35.9% of Eastpointe households are renters.


Rent Burden

35.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Macomb County 1
Michigan 2
National 2
Studio $748 $607 $737
1 bedroom $881 $678 $813
2 bedroom $1,126 $855 $1,015
3 bedroom $1,443 $1,118 $1,325
4 bedroom $1,565 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Eastpointe Demographics


Median Individual Income
$27,342 / year

Median Household Income
$49,849 / year

Families w/ Dual Incomes
46%

Unemployment Rate
8.3%
Household Income Distribution
Eastpointe, MI

Median Age
37 years

Avg Family Size
3.17 people
Age Distribution
Eastpointe, MI

College Education or Above
15%

STEM College Graduates
34%
Education Distribution
Eastpointe, MI
Source: U.S. Census Bureau

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