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Multifamily Loans in
Independence, MO

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Independence, MO

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Independence 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Independence 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 04, 2021


Multifamily Lenders in Independence, MO

All major multifamily lender types are lending in Independence.


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 Dec 04, 2021


Independence Market

The city of Independence in Jackson County has a population of 116,672. The median rent in Jackson County for a 2 bedroom is $1,095. The median Independence resident is 40 years old with a yearly income of $29,685. The average family has 3.05 members and a median household income of $50,592. Independence has a 20% higher education rate. The unemployment rate in Independence is 4.9%.


Population
116,672 people

County
Jackson County

Renters

39.3% of Independence households are renters.


Rent Burden

29.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Jackson County 1
Missouri 2
National 2
Studio $784 $535 $737
1 bedroom $919 $594 $813
2 bedroom $1,095 $761 $1,015
3 bedroom $1,463 $1,010 $1,325
4 bedroom $1,665 $1,155 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Independence Demographics


Median Individual Income
$29,685 / year

Median Household Income
$50,592 / year

Families w/ Dual Incomes
47%

Unemployment Rate
4.9%
Household Income Distribution
Independence, MO

Median Age
40 years

Avg Family Size
3.05 people
Age Distribution
Independence, MO

College Education or Above
20%

STEM College Graduates
37%
Education Distribution
Independence, MO
Source: U.S. Census Bureau

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