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Multifamily Loans in
Morgantown, WV

Overview

Morgantown is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Morgantown are considered greater risk due to market dynamics. Interest rates for multifamily loans in Morgantown are higher than the national average. Morgantown apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Morgantown.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Morgantown, WV

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Morgantown 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
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 Morgantown 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 Morgantown, WV

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


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


Morgantown Market

The city of Morgantown in Monongalia County has a population of 30,549. The median rent in Monongalia County for a 2 bedroom is $923. The median Morgantown resident is 25 years old with a yearly income of $15,657. The average family has 3.01 members and a median household income of $42,966. Morgantown has a 55% higher education rate. The unemployment rate in Morgantown is 9.7%.


Population
30,549 people

County
Monongalia County

Renters

57.5% of Morgantown households are renters.


Rent Burden

47.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Monongalia County 1
West Virginia 2
National 2
Studio $762 $595 $737
1 bedroom $767 $629 $813
2 bedroom $923 $769 $1,015
3 bedroom $1,248 $1,010 $1,325
4 bedroom $1,598 $1,163 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Morgantown Demographics


Median Individual Income
$15,657 / year

Median Household Income
$42,966 / year

Families w/ Dual Incomes
52%

Unemployment Rate
9.7%
Household Income Distribution
Morgantown, WV

Median Age
25 years

Avg Family Size
3.01 people
Age Distribution
Morgantown, WV

College Education or Above
55%

STEM College Graduates
49%
Education Distribution
Morgantown, WV
Source: U.S. Census Bureau

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