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Multifamily Loans in
Sandusky, OH

Overview

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

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Sandusky, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Sandusky 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Sandusky 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 08, 2021


Multifamily Lenders in Sandusky, OH

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


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 08, 2021


Sandusky Market

The city of Sandusky in Erie County has a population of 24,564. The median rent in Erie County for a 2 bedroom is $877. The median Sandusky resident is 38 years old with a yearly income of $23,630. The average family has 2.96 members and a median household income of $38,380. Sandusky has a 15% higher education rate. The unemployment rate in Sandusky is 7.5%.


Population
24,564 people

County
Erie County

Renters

49.6% of Sandusky households are renters.


Rent Burden

29.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Erie County 1
Ohio 2
National 2
Studio $631 $597 $737
1 bedroom $681 $662 $813
2 bedroom $877 $834 $1,015
3 bedroom $1,094 $1,084 $1,325
4 bedroom $1,340 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Sandusky Demographics


Median Individual Income
$23,630 / year

Median Household Income
$38,380 / year

Families w/ Dual Incomes
43%

Unemployment Rate
7.5%
Household Income Distribution
Sandusky, OH

Median Age
38 years

Avg Family Size
2.96 people
Age Distribution
Sandusky, OH

College Education or Above
15%

STEM College Graduates
29%
Education Distribution
Sandusky, OH
Source: U.S. Census Bureau

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