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Multifamily Loans in
Merrillville, IN

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Merrillville, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Merrillville 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Merrillville 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 02, 2021


Multifamily Lenders in Merrillville, IN

All major multifamily lender types are lending in Merrillville.


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 Dec 02, 2021


Merrillville Market

The city of Merrillville in Lake County has a population of 34,792. The median rent in Lake County for a 2 bedroom is $978. The median Merrillville resident is 38 years old with a yearly income of $31,219. The average family has 3.25 members and a median household income of $60,803. Merrillville has a 25% higher education rate. The unemployment rate in Merrillville is 6.6%.


Population
34,792 people

County
Lake County

Renters

36.1% of Merrillville households are renters.


Rent Burden

34.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lake County 1
Indiana 2
National 2
Studio $645 $593 $737
1 bedroom $794 $666 $813
2 bedroom $978 $840 $1,015
3 bedroom $1,216 $1,099 $1,325
4 bedroom $1,378 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Merrillville Demographics


Median Individual Income
$31,219 / year

Median Household Income
$60,803 / year

Families w/ Dual Incomes
51%

Unemployment Rate
6.6%
Household Income Distribution
Merrillville, IN

Median Age
38 years

Avg Family Size
3.25 people
Age Distribution
Merrillville, IN

College Education or Above
25%

STEM College Graduates
43%
Education Distribution
Merrillville, IN
Source: U.S. Census Bureau

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