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Multifamily Loans in
Wadsworth, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Wadsworth, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wadsworth 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 3.24% - 3.49%
7 Year Fixed 3.48% - 3.93%
10 Year Fixed 3.44% - 3.84%
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 Wadsworth 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 Wadsworth, OH

All major multifamily lender types are lending in Wadsworth.


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 Nov 26, 2021


Wadsworth Market

The city of Wadsworth in Medina County has a population of 24,046. The median rent in Medina County for a 2 bedroom is $925. The median Wadsworth resident is 39 years old with a yearly income of $35,953. The average family has 3.07 members and a median household income of $71,478. Wadsworth has a 39% higher education rate. The unemployment rate in Wadsworth is 3.5%.


Population
24,046 people

County
Medina County

Renters

26.9% of Wadsworth households are renters.


Rent Burden

22.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Medina County 1
Ohio 2
National 2
Studio $640 $597 $737
1 bedroom $754 $662 $813
2 bedroom $925 $834 $1,015
3 bedroom $1,216 $1,084 $1,325
4 bedroom $1,271 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wadsworth Demographics


Median Individual Income
$35,953 / year

Median Household Income
$71,478 / year

Families w/ Dual Incomes
59%

Unemployment Rate
3.5%
Household Income Distribution
Wadsworth, OH

Median Age
39 years

Avg Family Size
3.07 people
Age Distribution
Wadsworth, OH

College Education or Above
39%

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

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