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Multifamily Loans in
Warren, OH

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Warren, OH

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Warren 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 Warren 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 Warren, OH

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


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


Warren Market

The city of Warren in Trumbull County has a population of 38,752. The median rent in Trumbull County for a 2 bedroom is $734. The median Warren resident is 39 years old with a yearly income of $18,582. The average family has 2.93 members and a median household income of $28,898. Warren has a 14% higher education rate. The unemployment rate in Warren is 8.2%.


Population
38,752 people

County
Trumbull County

Renters

50% of Warren households are renters.


Rent Burden

43.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Trumbull County 1
Ohio 2
National 2
Studio $511 $597 $737
1 bedroom $585 $662 $813
2 bedroom $734 $834 $1,015
3 bedroom $966 $1,084 $1,325
4 bedroom $1,036 $1,205 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Warren Demographics


Median Individual Income
$18,582 / year

Median Household Income
$28,898 / year

Families w/ Dual Incomes
28%

Unemployment Rate
8.2%
Household Income Distribution
Warren, OH

Median Age
39 years

Avg Family Size
2.93 people
Age Distribution
Warren, OH

College Education or Above
14%

STEM College Graduates
30%
Education Distribution
Warren, OH
Source: U.S. Census Bureau

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