Stillwater is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Stillwater are considered greater risk due to market dynamics. Interest rates for multifamily loans in Stillwater are higher than the national average. Stillwater 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 Stillwater.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Stillwater are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.18% |
| 7 Year Fixed | 6.09% - 6.24% |
| 10 Year Fixed | 6.09% - 6.24% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Stillwater.
The city of Stillwater in Payne County has a population of 50,299. The median rent in Payne County for a 2 bedroom is $877. The median Stillwater resident is 24 years old with a yearly income of $16,667. The average family has 3.04 members and a median household income of $34,309. Stillwater has a 49% higher education rate. The unemployment rate in Stillwater is 4.6%.
62.8% of Stillwater households are renters.
46.5% median household income spent on rent.
Bedrooms |
Payne County 1 |
Oklahoma 2 |
National 2 |
|---|---|---|---|
| Studio | $710 | $589 | $737 |
| 1 bedroom | $732 | $623 | $813 |
| 2 bedroom | $877 | $790 | $1,015 |
| 3 bedroom | $1,223 | $1,041 | $1,325 |
| 4 bedroom | $1,372 | $1,191 | $1,521 |
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