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Multifamily Loans in
Roanoke, VA

Overview

Roanoke is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Roanoke are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Roanoke are slightly higher than the national average. Roanoke apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Roanoke.

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Roanoke, VA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Roanoke 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 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Roanoke 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 Roanoke, VA

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


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 05, 2021


Roanoke Market

The city of Roanoke in Roanoke County has a population of 99,143. The median rent in Roanoke County for a 2 bedroom is $1,007. The median Roanoke resident is 39 years old with a yearly income of $25,057. The average family has 3.11 members and a median household income of $44,230. Roanoke has a 23% higher education rate. The unemployment rate in Roanoke is 6.3%.


Population
99,143 people

County
Roanoke County

Renters

48.5% of Roanoke households are renters.


Rent Burden

33% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Roanoke County 1
Virginia 2
National 2
Studio $686 $833 $737
1 bedroom $795 $897 $813
2 bedroom $1,007 $1,072 $1,015
3 bedroom $1,357 $1,423 $1,325
4 bedroom $1,485 $1,680 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Roanoke Demographics


Median Individual Income
$25,057 / year

Median Household Income
$44,230 / year

Families w/ Dual Incomes
45%

Unemployment Rate
6.3%
Household Income Distribution
Roanoke, VA

Median Age
39 years

Avg Family Size
3.11 people
Age Distribution
Roanoke, VA

College Education or Above
23%

STEM College Graduates
47%
Education Distribution
Roanoke, VA
Source: U.S. Census Bureau

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