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Multifamily Loans in
Meridian, ID

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Meridian, ID

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Meridian 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% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
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 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Meridian 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 04, 2021


Multifamily Lenders in Meridian, ID

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


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 04, 2021


Meridian Market

The city of Meridian in Ada County has a population of 114,161. The median rent in Ada County for a 2 bedroom is $1,054. The median Meridian resident is 36 years old with a yearly income of $35,307. The average family has 3.38 members and a median household income of $71,389. Meridian has a 37% higher education rate. The unemployment rate in Meridian is 3.7%.


Population
114,161 people

County
Ada County

Renters

23.8% of Meridian households are renters.


Rent Burden

29.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Ada County 1
Idaho 2
National 2
Studio $718 $622 $737
1 bedroom $842 $673 $813
2 bedroom $1,054 $863 $1,015
3 bedroom $1,494 $1,204 $1,325
4 bedroom $1,732 $1,409 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Meridian Demographics


Median Individual Income
$35,307 / year

Median Household Income
$71,389 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.7%
Household Income Distribution
Meridian, ID

Median Age
36 years

Avg Family Size
3.38 people
Age Distribution
Meridian, ID

College Education or Above
37%

STEM College Graduates
48%
Education Distribution
Meridian, ID
Source: U.S. Census Bureau

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