Loading...

Multifamily Loans in
Kent, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Kent, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kent 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Kent 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 08, 2021


Multifamily Lenders in Kent, OH

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


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 Dec 08, 2021


Kent Market

The city of Kent in Portage County has a population of 29,646. The median rent in Portage County for a 2 bedroom is $911. The median Kent resident is 24 years old with a yearly income of $16,086. The average family has 2.91 members and a median household income of $32,993. Kent has a 43% higher education rate. The unemployment rate in Kent is 7.9%.


Population
29,646 people

County
Portage County

Renters

61% of Kent households are renters.


Rent Burden

50% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Portage County 1
Ohio 2
National 2
Studio $607 $597 $737
1 bedroom $712 $662 $813
2 bedroom $911 $834 $1,015
3 bedroom $1,147 $1,084 $1,325
4 bedroom $1,235 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Kent Demographics


Median Individual Income
$16,086 / year

Median Household Income
$32,993 / year

Families w/ Dual Incomes
48%

Unemployment Rate
7.9%
Household Income Distribution
Kent, OH

Median Age
24 years

Avg Family Size
2.91 people
Age Distribution
Kent, OH

College Education or Above
43%

STEM College Graduates
44%
Education Distribution
Kent, OH
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day