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Multifamily Loans in
Fort Dodge, IA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Fort Dodge, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Dodge 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Fort Dodge 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 Fort Dodge, IA

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


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 08, 2021


Fort Dodge Market

The city of Fort Dodge in Webster County has a population of 23,888. The median rent in Webster County for a 2 bedroom is $729. The median Fort Dodge resident is 36 years old with a yearly income of $23,500. The average family has 2.87 members and a median household income of $40,886. Fort Dodge has a 20% higher education rate. The unemployment rate in Fort Dodge is 4.9%.


Population
23,888 people

County
Webster County

Renters

39.2% of Fort Dodge households are renters.


Rent Burden

27.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Webster County 1
Iowa 2
National 2
Studio $550 $558 $737
1 bedroom $553 $613 $813
2 bedroom $729 $785 $1,015
3 bedroom $1,002 $1,038 $1,325
4 bedroom $1,006 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fort Dodge Demographics


Median Individual Income
$23,500 / year

Median Household Income
$40,886 / year

Families w/ Dual Incomes
49%

Unemployment Rate
4.9%
Household Income Distribution
Fort Dodge, IA

Median Age
36 years

Avg Family Size
2.87 people
Age Distribution
Fort Dodge, IA

College Education or Above
20%

STEM College Graduates
33%
Education Distribution
Fort Dodge, IA
Source: U.S. Census Bureau

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