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Multifamily Loans in
Staunton, VA

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Staunton, VA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Staunton 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 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
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 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Staunton 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 Staunton, VA

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


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


Staunton Market

The city of Staunton in Staunton city has a population of 24,932. The median rent in Staunton city for a 2 bedroom is $965. The median Staunton resident is 43 years old with a yearly income of $29,164. The average family has 2.81 members and a median household income of $52,611. Staunton has a 33% higher education rate. The unemployment rate in Staunton is 3.7%.


Population
24,932 people

County
Staunton city

Renters

42.7% of Staunton households are renters.


Rent Burden

29.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Staunton city 1
Virginia 2
National 2
Studio $732 $833 $737
1 bedroom $737 $897 $813
2 bedroom $965 $1,072 $1,015
3 bedroom $1,314 $1,423 $1,325
4 bedroom $1,502 $1,680 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Staunton Demographics


Median Individual Income
$29,164 / year

Median Household Income
$52,611 / year

Families w/ Dual Incomes
54%

Unemployment Rate
3.7%
Household Income Distribution
Staunton, VA

Median Age
43 years

Avg Family Size
2.81 people
Age Distribution
Staunton, VA

College Education or Above
33%

STEM College Graduates
43%
Education Distribution
Staunton, VA
Source: U.S. Census Bureau

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