Great Falls is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Great Falls are considered greater risk due to market dynamics. Interest rates for multifamily loans in Great Falls are higher than the national average. Great Falls 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 Great Falls.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Great Falls 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 $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.88% - 7.12% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Great Falls.
The city of Great Falls in Cascade County has a population of 58,434. The median rent in Cascade County for a 2 bedroom is $859. The median Great Falls resident is 39 years old with a yearly income of $28,380. The average family has 2.83 members and a median household income of $46,965. Great Falls has a 25% higher education rate. The unemployment rate in Great Falls is 3.8%.
37.4% of Great Falls households are renters.
29.1% median household income spent on rent.
Bedrooms |
Cascade County 1 |
Montana 2 |
National 2 |
|---|---|---|---|
| Studio | $648 | $620 | $737 |
| 1 bedroom | $652 | $690 | $813 |
| 2 bedroom | $859 | $877 | $1,015 |
| 3 bedroom | $1,197 | $1,169 | $1,325 |
| 4 bedroom | $1,445 | $1,370 | $1,521 |
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