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Multifamily Loans in
Lansing, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Lansing, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lansing 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Lansing 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 Lansing, MI

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


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 05, 2021


Lansing Market

The city of Lansing in Ingham County has a population of 118,210. The median rent in Ingham County for a 2 bedroom is $962. The median Lansing resident is 33 years old with a yearly income of $24,883. The average family has 3.23 members and a median household income of $41,674. Lansing has a 26% higher education rate. The unemployment rate in Lansing is 8.4%.


Population
118,210 people

County
Ingham County

Renters

49.4% of Lansing households are renters.


Rent Burden

32.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ingham County 1
Michigan 2
National 2
Studio $751 $607 $737
1 bedroom $783 $678 $813
2 bedroom $962 $855 $1,015
3 bedroom $1,239 $1,118 $1,325
4 bedroom $1,338 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lansing Demographics


Median Individual Income
$24,883 / year

Median Household Income
$41,674 / year

Families w/ Dual Incomes
46%

Unemployment Rate
8.4%
Household Income Distribution
Lansing, MI

Median Age
33 years

Avg Family Size
3.23 people
Age Distribution
Lansing, MI

College Education or Above
26%

STEM College Graduates
47%
Education Distribution
Lansing, MI
Source: U.S. Census Bureau

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