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Multifamily Loans in
Owensboro, KY

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Owensboro, KY

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Owensboro 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Owensboro 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 04, 2021


Multifamily Lenders in Owensboro, KY

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


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 04, 2021


Owensboro Market

The city of Owensboro in Daviess County has a population of 60,131. The median rent in Daviess County for a 2 bedroom is $871. The median Owensboro resident is 38 years old with a yearly income of $25,380. The average family has 2.89 members and a median household income of $43,369. Owensboro has a 23% higher education rate. The unemployment rate in Owensboro is 5.4%.


Population
60,131 people

County
Daviess County

Renters

43.1% of Owensboro households are renters.


Rent Burden

30.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Daviess County 1
Kentucky 2
National 2
Studio $635 $548 $737
1 bedroom $661 $605 $813
2 bedroom $871 $763 $1,015
3 bedroom $1,141 $1,011 $1,325
4 bedroom $1,181 $1,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Owensboro Demographics


Median Individual Income
$25,380 / year

Median Household Income
$43,369 / year

Families w/ Dual Incomes
44%

Unemployment Rate
5.4%
Household Income Distribution
Owensboro, KY

Median Age
38 years

Avg Family Size
2.89 people
Age Distribution
Owensboro, KY

College Education or Above
23%

STEM College Graduates
38%
Education Distribution
Owensboro, KY
Source: U.S. Census Bureau

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