Mustang is located in a good market for 5+ unit multifamily loans. Multifamily loans in Mustang are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Mustang are competitive. Mustang 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 Mustang.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mustang are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.93% - 6.08% |
| 7 Year Fixed | 5.99% - 6.14% |
| 10 Year Fixed | 5.99% - 6.14% |
All major multifamily lender types are lending in Mustang.
The city of Mustang in Canadian County has a population of 22,959. The median rent in Canadian County for a 2 bedroom is $977. The median Mustang resident is 38 years old with a yearly income of $35,342. The average family has 3.48 members and a median household income of $74,071. Mustang has a 25% higher education rate. The unemployment rate in Mustang is 2.7%.
24.2% of Mustang households are renters.
33% median household income spent on rent.
Bedrooms |
Canadian 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 |
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