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Multifamily Loans in
North Olmsted, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in North Olmsted, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Olmsted 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 3.25% - 3.49%
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 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
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 North Olmsted 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 North Olmsted, OH

All major multifamily lender types are lending in North Olmsted.


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


North Olmsted Market

The city of North Olmsted in Cuyahoga County has a population of 31,341. The median rent in Cuyahoga County for a 2 bedroom is $925. The median North Olmsted resident is 44 years old with a yearly income of $31,838. The average family has 3.04 members and a median household income of $64,236. North Olmsted has a 31% higher education rate. The unemployment rate in North Olmsted is 3.8%.


Population
31,341 people

County
Cuyahoga County

Renters

25.4% of North Olmsted households are renters.


Rent Burden

26.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cuyahoga County 1
Ohio 2
National 2
Studio $640 $597 $737
1 bedroom $754 $662 $813
2 bedroom $925 $834 $1,015
3 bedroom $1,216 $1,084 $1,325
4 bedroom $1,271 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

North Olmsted Demographics


Median Individual Income
$31,838 / year

Median Household Income
$64,236 / year

Families w/ Dual Incomes
57%

Unemployment Rate
3.8%
Household Income Distribution
North Olmsted, OH

Median Age
44 years

Avg Family Size
3.04 people
Age Distribution
North Olmsted, OH

College Education or Above
31%

STEM College Graduates
41%
Education Distribution
North Olmsted, OH
Source: U.S. Census Bureau

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