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Multifamily Loans in
Norman, OK

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Norman, OK

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Norman 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 Norman 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 Norman, OK

All major multifamily lender types are lending in Norman.


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


Norman Market

The city of Norman in Cleveland County has a population of 124,880. The median rent in Cleveland County for a 2 bedroom is $977. The median Norman resident is 31 years old with a yearly income of $27,823. The average family has 2.91 members and a median household income of $58,119. Norman has a 43% higher education rate. The unemployment rate in Norman is 4.5%.


Population
124,880 people

County
Cleveland County

Renters

47.2% of Norman households are renters.


Rent Burden

30.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cleveland 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

Norman Demographics


Median Individual Income
$27,823 / year

Median Household Income
$58,119 / year

Families w/ Dual Incomes
55%

Unemployment Rate
4.5%
Household Income Distribution
Norman, OK

Median Age
31 years

Avg Family Size
2.91 people
Age Distribution
Norman, OK

College Education or Above
43%

STEM College Graduates
44%
Education Distribution
Norman, OK
Source: U.S. Census Bureau

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