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Multifamily Loans in
Massillon, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Massillon, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Massillon 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 3.29% - 3.54%
7 Year Fixed 3.53% - 3.98%
10 Year Fixed 3.49% - 3.89%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Massillon 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 Nov 26, 2021


Multifamily Lenders in Massillon, OH

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


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 Nov 26, 2021


Massillon Market

The city of Massillon in Stark County has a population of 32,584. The median rent in Stark County for a 2 bedroom is $795. The median Massillon resident is 41 years old with a yearly income of $26,018. The average family has 2.91 members and a median household income of $45,809. Massillon has a 17% higher education rate. The unemployment rate in Massillon is 5.5%.


Population
32,584 people

County
Stark County

Renters

37.1% of Massillon households are renters.


Rent Burden

28.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Stark County 1
Ohio 2
National 2
Studio $525 $597 $737
1 bedroom $603 $662 $813
2 bedroom $795 $834 $1,015
3 bedroom $1,014 $1,084 $1,325
4 bedroom $1,078 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Massillon Demographics


Median Individual Income
$26,018 / year

Median Household Income
$45,809 / year

Families w/ Dual Incomes
45%

Unemployment Rate
5.5%
Household Income Distribution
Massillon, OH

Median Age
41 years

Avg Family Size
2.91 people
Age Distribution
Massillon, OH

College Education or Above
17%

STEM College Graduates
32%
Education Distribution
Massillon, OH
Source: U.S. Census Bureau

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