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Multifamily Loans in
Johnston, RI

Overview

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

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in Johnston, RI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Johnston are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.19%
7 Year Fixed 3.42% - 4.00%
10 Year Fixed 3.46% - 3.95%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.34% - 3.58%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.64% - 3.88%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.24% - 3.74%
7 Year Fixed 3.12% - 3.70%
10 Year Fixed 3.16% - 3.65%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.51% - 4.01%
7 Year Fixed 3.64% - 4.34%
10 Year Fixed 3.58% - 4.23%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 01/28/2022. This is not an offer or commitment to lend. Multifamily loan rates in Johnston 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 Jan 29, 2022


Multifamily Lenders in Johnston, RI

All major multifamily lender types are lending in Johnston.


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 Jan 29, 2022


Johnston Market

The city of Johnston in Providence County has a population of 29,307. The median rent in Providence County for a 2 bedroom is $1,239. The median Johnston resident is 44 years old with a yearly income of $38,442. The average family has 3.3 members and a median household income of $65,125. Johnston has a 24% higher education rate. The unemployment rate in Johnston is 6.0%.


Population
29,307 people

County
Providence County

Renters

33% of Johnston households are renters.


Rent Burden

32% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Providence County 1
Rhode Island 2
National 2
Studio $915 $936 $737
1 bedroom $1,030 $1,044 $813
2 bedroom $1,239 $1,270 $1,015
3 bedroom $1,541 $1,615 $1,325
4 bedroom $1,850 $1,932 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Johnston Demographics


Median Individual Income
$38,442 / year

Median Household Income
$65,125 / year

Families w/ Dual Incomes
57%

Unemployment Rate
6.0%
Household Income Distribution
Johnston, RI

Median Age
44 years

Avg Family Size
3.3 people
Age Distribution
Johnston, RI

College Education or Above
24%

STEM College Graduates
35%
Education Distribution
Johnston, RI
Source: U.S. Census Bureau

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