Waterloo is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Waterloo are considered greater risk due to market dynamics. Interest rates for multifamily loans in Waterloo are higher than the national average. Waterloo 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 Waterloo.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Waterloo are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.68% - 6.92% |
| 7 Year Fixed | 6.44% - 6.68% |
| 10 Year Fixed | 6.38% - 6.62% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Waterloo.
The city of Waterloo in Black Hawk County has a population of 67,328. The median rent in Black Hawk County for a 2 bedroom is $890. The median Waterloo resident is 37 years old with a yearly income of $27,357. The average family has 3.03 members and a median household income of $47,327. Waterloo has a 23% higher education rate. The unemployment rate in Waterloo is 5.7%.
39.1% of Waterloo households are renters.
29.6% median household income spent on rent.
Bedrooms |
Black Hawk County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $628 | $558 | $737 |
| 1 bedroom | $711 | $613 | $813 |
| 2 bedroom | $890 | $785 | $1,015 |
| 3 bedroom | $1,179 | $1,038 | $1,325 |
| 4 bedroom | $1,499 | $1,151 | $1,521 |
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