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Multifamily Loans in
Muncie, IN

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Muncie, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Muncie 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 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
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 Muncie 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 Muncie, IN

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


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 02, 2021


Muncie Market

The city of Muncie in Delaware County has a population of 67,999. The median rent in Delaware County for a 2 bedroom is $784. The median Muncie resident is 29 years old with a yearly income of $18,198. The average family has 2.84 members and a median household income of $33,944. Muncie has a 24% higher education rate. The unemployment rate in Muncie is 7.9%.


Population
67,999 people

County
Delaware County

Renters

50.6% of Muncie households are renters.


Rent Burden

39.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Delaware County 1
Indiana 2
National 2
Studio $594 $593 $737
1 bedroom $611 $666 $813
2 bedroom $784 $840 $1,015
3 bedroom $1,028 $1,099 $1,325
4 bedroom $1,165 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Muncie Demographics


Median Individual Income
$18,198 / year

Median Household Income
$33,944 / year

Families w/ Dual Incomes
40%

Unemployment Rate
7.9%
Household Income Distribution
Muncie, IN

Median Age
29 years

Avg Family Size
2.84 people
Age Distribution
Muncie, IN

College Education or Above
24%

STEM College Graduates
37%
Education Distribution
Muncie, IN
Source: U.S. Census Bureau

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