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Multifamily Loans in
Muscatine, IA

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Muscatine, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Muscatine 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 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
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 Muscatine 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 Muscatine, IA

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


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 08, 2021


Muscatine Market

The city of Muscatine in Muscatine County has a population of 23,631. The median rent in Muscatine County for a 2 bedroom is $964. The median Muscatine resident is 36 years old with a yearly income of $29,072. The average family has 3.05 members and a median household income of $52,660. Muscatine has a 20% higher education rate. The unemployment rate in Muscatine is 3.8%.


Population
23,631 people

County
Muscatine County

Renters

34% of Muscatine households are renters.


Rent Burden

28.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Muscatine County 1
Iowa 2
National 2
Studio $636 $558 $737
1 bedroom $731 $613 $813
2 bedroom $964 $785 $1,015
3 bedroom $1,212 $1,038 $1,325
4 bedroom $1,467 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Muscatine Demographics


Median Individual Income
$29,072 / year

Median Household Income
$52,660 / year

Families w/ Dual Incomes
50%

Unemployment Rate
3.8%
Household Income Distribution
Muscatine, IA

Median Age
36 years

Avg Family Size
3.05 people
Age Distribution
Muscatine, IA

College Education or Above
20%

STEM College Graduates
41%
Education Distribution
Muscatine, IA
Source: U.S. Census Bureau

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