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Multifamily Loans in
Portsmouth, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Portsmouth, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Portsmouth 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 3.34% - 3.59%
7 Year Fixed 3.58% - 4.03%
10 Year Fixed 3.54% - 3.94%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Portsmouth 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 Nov 26, 2021


Multifamily Lenders in Portsmouth, OH

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


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 Nov 26, 2021


Portsmouth Market

The city of Portsmouth in Scioto County has a population of 20,158. The median rent in Scioto County for a 2 bedroom is $734. The median Portsmouth resident is 36 years old with a yearly income of $17,832. The average family has 2.88 members and a median household income of $28,840. Portsmouth has a 16% higher education rate. The unemployment rate in Portsmouth is 11.2%.


Population
20,158 people

County
Scioto County

Renters

53.3% of Portsmouth households are renters.


Rent Burden

39.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Scioto County 1
Ohio 2
National 2
Studio $530 $597 $737
1 bedroom $644 $662 $813
2 bedroom $734 $834 $1,015
3 bedroom $1,050 $1,084 $1,325
4 bedroom $1,148 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Portsmouth Demographics


Median Individual Income
$17,832 / year

Median Household Income
$28,840 / year

Families w/ Dual Incomes
33%

Unemployment Rate
11.2%
Household Income Distribution
Portsmouth, OH

Median Age
36 years

Avg Family Size
2.88 people
Age Distribution
Portsmouth, OH

College Education or Above
16%

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

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