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Multifamily Loans in
Taylor, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Taylor, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Taylor 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Taylor 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 Taylor, MI

All major multifamily lender types are lending in Taylor.


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 Dec 05, 2021


Taylor Market

The city of Taylor in Wayne County has a population of 60,922. The median rent in Wayne County for a 2 bedroom is $1,126. The median Taylor resident is 38 years old with a yearly income of $27,248. The average family has 3.1 members and a median household income of $50,053. Taylor has a 12% higher education rate. The unemployment rate in Taylor is 7.7%.


Population
60,922 people

County
Wayne County

Renters

35.9% of Taylor households are renters.


Rent Burden

30.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wayne County 1
Michigan 2
National 2
Studio $748 $607 $737
1 bedroom $881 $678 $813
2 bedroom $1,126 $855 $1,015
3 bedroom $1,443 $1,118 $1,325
4 bedroom $1,565 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Taylor Demographics


Median Individual Income
$27,248 / year

Median Household Income
$50,053 / year

Families w/ Dual Incomes
46%

Unemployment Rate
7.7%
Household Income Distribution
Taylor, MI

Median Age
38 years

Avg Family Size
3.1 people
Age Distribution
Taylor, MI

College Education or Above
12%

STEM College Graduates
42%
Education Distribution
Taylor, MI
Source: U.S. Census Bureau

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