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Multifamily Loans in
Grove City, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Grove City, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Grove City 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 3.24% - 3.49%
7 Year Fixed 3.48% - 3.93%
10 Year Fixed 3.44% - 3.84%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Grove City 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 Nov 26, 2021


Multifamily Lenders in Grove City, OH

All major multifamily lender types are lending in Grove City.


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 Nov 26, 2021


Grove City Market

The city of Grove City in Franklin County has a population of 41,820. The median rent in Franklin County for a 2 bedroom is $1,105. The median Grove City resident is 39 years old with a yearly income of $40,460. The average family has 3.04 members and a median household income of $74,284. Grove City has a 34% higher education rate. The unemployment rate in Grove City is 3.0%.


Population
41,820 people

County
Franklin County

Renters

29.5% of Grove City households are renters.


Rent Burden

27.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Franklin County 1
Ohio 2
National 2
Studio $768 $597 $737
1 bedroom $886 $662 $813
2 bedroom $1,105 $834 $1,015
3 bedroom $1,391 $1,084 $1,325
4 bedroom $1,574 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Grove City Demographics


Median Individual Income
$40,460 / year

Median Household Income
$74,284 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.0%
Household Income Distribution
Grove City, OH

Median Age
39 years

Avg Family Size
3.04 people
Age Distribution
Grove City, OH

College Education or Above
34%

STEM College Graduates
39%
Education Distribution
Grove City, OH
Source: U.S. Census Bureau

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