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Multifamily Loans in
Huntington, WV

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Overview

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

For 2-4 unit multifamily loans in Huntington, 2021 conforming loan limits are $702,000 for a duplex, $848,500 for a triplex and $1,054,500 for a fourplex.

Get multifamily loan quotes for Oct 15, 2021


Multifamily Loan Rates in Huntington, WV

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Huntington 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
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 2.87% - 3.12%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 10/14/2021. This is not an offer or commitment to lend. Multifamily loan rates in Huntington 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 Oct 15, 2021


Multifamily Lenders in Huntington, WV

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


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 Oct 15, 2021


Huntington Market

The city of Huntington in Cabell County has a population of 45,110. The median rent in Cabell County for a 2 bedroom is $839. The median Huntington resident is 35 years old with a yearly income of $18,393. The average family has 3.18 members and a median household income of $31,162. Huntington has a 27% higher education rate. The unemployment rate in Huntington is 6.8%.


Population
45,110 people

County
Cabell County

Renters

49% of Huntington households are renters.


Rent Burden

46.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cabell County 1
West Virginia 2
National 2
Studio $586 $595 $737
1 bedroom $692 $629 $813
2 bedroom $839 $769 $1,015
3 bedroom $1,128 $1,010 $1,325
4 bedroom $1,286 $1,163 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Huntington Demographics


Median Individual Income
$18,393 / year

Median Household Income
$31,162 / year

Families w/ Dual Incomes
37%

Unemployment Rate
6.8%
Household Income Distribution
Huntington, WV

Median Age
35 years

Avg Family Size
3.18 people
Age Distribution
Huntington, WV

College Education or Above
27%

STEM College Graduates
46%
Education Distribution
Huntington, WV
Source: U.S. Census Bureau

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