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Multifamily Loans in
Rochester Hills, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Rochester Hills, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rochester Hills 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 Rochester Hills 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 Rochester Hills, MI

All major multifamily lender types are lending in Rochester Hills.


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


Rochester Hills Market

The city of Rochester Hills in Oakland County has a population of 74,516. The median rent in Oakland County for a 2 bedroom is $1,126. The median Rochester Hills resident is 42 years old with a yearly income of $44,405. The average family has 3.07 members and a median household income of $93,953. Rochester Hills has a 57% higher education rate. The unemployment rate in Rochester Hills is 2.9%.


Population
74,516 people

County
Oakland County

Renters

23% of Rochester Hills households are renters.


Rent Burden

26.6% 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

Rochester Hills Demographics


Median Individual Income
$44,405 / year

Median Household Income
$93,953 / year

Families w/ Dual Incomes
55%

Unemployment Rate
2.9%
Household Income Distribution
Rochester Hills, MI

Median Age
42 years

Avg Family Size
3.07 people
Age Distribution
Rochester Hills, MI

College Education or Above
57%

STEM College Graduates
51%
Education Distribution
Rochester Hills, MI
Source: U.S. Census Bureau

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