Loading...

Multifamily Loans in
Toledo, OH

Overview

Toledo is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Toledo are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Toledo are slightly higher than the national average. Toledo apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Toledo.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Toledo, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Toledo 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.51% - 3.75%
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 3.29% - 3.54%
7 Year Fixed 3.53% - 3.98%
10 Year Fixed 3.49% - 3.89%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Toledo 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 Nov 26, 2021


Multifamily Lenders in Toledo, OH

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


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 Nov 26, 2021


Toledo Market

The city of Toledo in Lucas County has a population of 272,779. The median rent in Lucas County for a 2 bedroom is $848. The median Toledo resident is 35 years old with a yearly income of $23,447. The average family has 3 members and a median household income of $37,752. Toledo has a 18% higher education rate. The unemployment rate in Toledo is 9.1%.


Population
272,779 people

County
Lucas County

Renters

49.6% of Toledo households are renters.


Rent Burden

33.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Lucas County 1
Ohio 2
National 2
Studio $572 $597 $737
1 bedroom $656 $662 $813
2 bedroom $848 $834 $1,015
3 bedroom $1,151 $1,084 $1,325
4 bedroom $1,261 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Toledo Demographics


Median Individual Income
$23,447 / year

Median Household Income
$37,752 / year

Families w/ Dual Incomes
41%

Unemployment Rate
9.1%
Household Income Distribution
Toledo, OH

Median Age
35 years

Avg Family Size
3 people
Age Distribution
Toledo, OH

College Education or Above
18%

STEM College Graduates
38%
Education Distribution
Toledo, OH
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day