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Multifamily Loans in
Midwest City, OK

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Midwest City, OK

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Midwest City 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 3.28% - 3.52%
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 3.17% - 3.42%
7 Year Fixed 3.34% - 3.79%
10 Year Fixed 3.32% - 3.72%
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 Midwest City 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 Midwest City, OK

All major multifamily lender types are lending in Midwest City.


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 08, 2021


Midwest City Market

The city of Midwest City in Oklahoma County has a population of 57,407. The median rent in Oklahoma County for a 2 bedroom is $977. The median Midwest City resident is 36 years old with a yearly income of $28,188. The average family has 3.19 members and a median household income of $49,914. Midwest City has a 22% higher education rate. The unemployment rate in Midwest City is 5.5%.


Population
57,407 people

County
Oklahoma County

Renters

43.4% of Midwest City households are renters.


Rent Burden

27.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Oklahoma County 1
Oklahoma 2
National 2
Studio $750 $589 $737
1 bedroom $785 $623 $813
2 bedroom $977 $790 $1,015
3 bedroom $1,317 $1,041 $1,325
4 bedroom $1,583 $1,191 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Midwest City Demographics


Median Individual Income
$28,188 / year

Median Household Income
$49,914 / year

Families w/ Dual Incomes
48%

Unemployment Rate
5.5%
Household Income Distribution
Midwest City, OK

Median Age
36 years

Avg Family Size
3.19 people
Age Distribution
Midwest City, OK

College Education or Above
22%

STEM College Graduates
37%
Education Distribution
Midwest City, OK
Source: U.S. Census Bureau

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