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Multifamily Loans in
St. Joseph, MO

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in St. Joseph, MO

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Joseph 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 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in St. Joseph 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 04, 2021


Multifamily Lenders in St. Joseph, MO

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


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 04, 2021


St. Joseph Market

The city of St. Joseph in Buchanan County has a population of 74,875. The median rent in Buchanan County for a 2 bedroom is $862. The median St. Joseph resident is 37 years old with a yearly income of $25,768. The average family has 3.19 members and a median household income of $48,197. St. Joseph has a 21% higher education rate. The unemployment rate in St. Joseph is 4.7%.


Population
74,875 people

County
Buchanan County

Renters

41.2% of St. Joseph households are renters.


Rent Burden

30.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Buchanan County 1
Missouri 2
National 2
Studio $569 $535 $737
1 bedroom $654 $594 $813
2 bedroom $862 $761 $1,015
3 bedroom $1,157 $1,010 $1,325
4 bedroom $1,233 $1,155 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

St. Joseph Demographics


Median Individual Income
$25,768 / year

Median Household Income
$48,197 / year

Families w/ Dual Incomes
49%

Unemployment Rate
4.7%
Household Income Distribution
St. Joseph, MO

Median Age
37 years

Avg Family Size
3.19 people
Age Distribution
St. Joseph, MO

College Education or Above
21%

STEM College Graduates
41%
Education Distribution
St. Joseph, MO
Source: U.S. Census Bureau

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