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Multifamily Loans in
Terre Haute, IN

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Terre Haute, IN

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Terre Haute 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 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Terre Haute 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 02, 2021


Multifamily Lenders in Terre Haute, IN

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


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 02, 2021


Terre Haute Market

The city of Terre Haute in Vigo County has a population of 60,622. The median rent in Vigo County for a 2 bedroom is $845. The median Terre Haute resident is 33 years old with a yearly income of $19,360. The average family has 2.99 members and a median household income of $36,406. Terre Haute has a 23% higher education rate. The unemployment rate in Terre Haute is 9.0%.


Population
60,622 people

County
Vigo County

Renters

47.2% of Terre Haute households are renters.


Rent Burden

36.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Vigo County 1
Indiana 2
National 2
Studio $580 $593 $737
1 bedroom $676 $666 $813
2 bedroom $845 $840 $1,015
3 bedroom $1,073 $1,099 $1,325
4 bedroom $1,306 $1,251 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Terre Haute Demographics


Median Individual Income
$19,360 / year

Median Household Income
$36,406 / year

Families w/ Dual Incomes
42%

Unemployment Rate
9.0%
Household Income Distribution
Terre Haute, IN

Median Age
33 years

Avg Family Size
2.99 people
Age Distribution
Terre Haute, IN

College Education or Above
23%

STEM College Graduates
42%
Education Distribution
Terre Haute, IN
Source: U.S. Census Bureau

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