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Multifamily Loans in
Shaker Heights, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Shaker Heights, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Shaker Heights 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 3.24% - 3.49%
7 Year Fixed 3.48% - 3.93%
10 Year Fixed 3.44% - 3.84%
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 Shaker Heights 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 Shaker Heights, OH

All major multifamily lender types are lending in Shaker Heights.


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 Nov 26, 2021


Shaker Heights Market

The city of Shaker Heights in Cuyahoga County has a population of 27,027. The median rent in Cuyahoga County for a 2 bedroom is $925. The median Shaker Heights resident is 40 years old with a yearly income of $47,188. The average family has 3.06 members and a median household income of $87,235. Shaker Heights has a 67% higher education rate. The unemployment rate in Shaker Heights is 6.2%.


Population
27,027 people

County
Cuyahoga County

Renters

36.9% of Shaker Heights households are renters.


Rent Burden

28.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cuyahoga County 1
Ohio 2
National 2
Studio $640 $597 $737
1 bedroom $754 $662 $813
2 bedroom $925 $834 $1,015
3 bedroom $1,216 $1,084 $1,325
4 bedroom $1,271 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Shaker Heights Demographics


Median Individual Income
$47,188 / year

Median Household Income
$87,235 / year

Families w/ Dual Incomes
57%

Unemployment Rate
6.2%
Household Income Distribution
Shaker Heights, OH

Median Age
40 years

Avg Family Size
3.06 people
Age Distribution
Shaker Heights, OH

College Education or Above
67%

STEM College Graduates
50%
Education Distribution
Shaker Heights, OH
Source: U.S. Census Bureau

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