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Multifamily Loans in
Inkster, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Inkster, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Inkster 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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Inkster 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 05, 2021


Multifamily Lenders in Inkster, MI

All major multifamily lender types are lending in Inkster.


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 05, 2021


Inkster Market

The city of Inkster in Wayne County has a population of 24,284. The median rent in Wayne County for a 2 bedroom is $1,126. The median Inkster resident is 31 years old with a yearly income of $20,538. The average family has 3.53 members and a median household income of $32,014. Inkster has a 11% higher education rate. The unemployment rate in Inkster is 11.4%.


Population
24,284 people

County
Wayne County

Renters

56.8% of Inkster households are renters.


Rent Burden

42.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wayne County 1
Michigan 2
National 2
Studio $748 $607 $737
1 bedroom $881 $678 $813
2 bedroom $1,126 $855 $1,015
3 bedroom $1,443 $1,118 $1,325
4 bedroom $1,565 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Inkster Demographics


Median Individual Income
$20,538 / year

Median Household Income
$32,014 / year

Families w/ Dual Incomes
37%

Unemployment Rate
11.4%
Household Income Distribution
Inkster, MI

Median Age
31 years

Avg Family Size
3.53 people
Age Distribution
Inkster, MI

College Education or Above
11%

STEM College Graduates
46%
Education Distribution
Inkster, MI
Source: U.S. Census Bureau

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