Loading...

Multifamily Loans in
Pontiac, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Pontiac, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pontiac 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Pontiac 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 05, 2021


Multifamily Lenders in Pontiac, MI

All major multifamily lender types are lending in Pontiac.


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 05, 2021


Pontiac Market

The city of Pontiac in Oakland County has a population of 59,438. The median rent in Oakland County for a 2 bedroom is $1,126. The median Pontiac resident is 32 years old with a yearly income of $20,883. The average family has 3.45 members and a median household income of $33,568. Pontiac has a 13% higher education rate. The unemployment rate in Pontiac is 11.9%.


Population
59,438 people

County
Oakland County

Renters

59.5% of Pontiac households are renters.


Rent Burden

38.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Oakland County 1
Michigan 2
National 2
Studio $748 $607 $737
1 bedroom $881 $678 $813
2 bedroom $1,126 $855 $1,015
3 bedroom $1,443 $1,118 $1,325
4 bedroom $1,565 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Pontiac Demographics


Median Individual Income
$20,883 / year

Median Household Income
$33,568 / year

Families w/ Dual Incomes
39%

Unemployment Rate
11.9%
Household Income Distribution
Pontiac, MI

Median Age
32 years

Avg Family Size
3.45 people
Age Distribution
Pontiac, MI

College Education or Above
13%

STEM College Graduates
42%
Education Distribution
Pontiac, MI
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day