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Multifamily Loans in
Flint, MI

Overview

Flint is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Flint are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Flint are slightly higher than the national average. Flint apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Flint.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Flint, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Flint 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Flint 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 Flint, MI

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


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 05, 2021


Flint Market

The city of Flint in Genesee County has a population of 95,538. The median rent in Genesee County for a 2 bedroom is $833. The median Flint resident is 36 years old with a yearly income of $17,642. The average family has 3.05 members and a median household income of $28,834. Flint has a 12% higher education rate. The unemployment rate in Flint is 19.7%.


Population
95,538 people

County
Genesee County

Renters

43.1% of Flint households are renters.


Rent Burden

47.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Genesee County 1
Michigan 2
National 2
Studio $550 $607 $737
1 bedroom $649 $678 $813
2 bedroom $833 $855 $1,015
3 bedroom $1,067 $1,118 $1,325
4 bedroom $1,132 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Flint Demographics


Median Individual Income
$17,642 / year

Median Household Income
$28,834 / year

Families w/ Dual Incomes
28%

Unemployment Rate
19.7%
Household Income Distribution
Flint, MI

Median Age
36 years

Avg Family Size
3.05 people
Age Distribution
Flint, MI

College Education or Above
12%

STEM College Graduates
38%
Education Distribution
Flint, MI
Source: U.S. Census Bureau

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