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Multifamily Loans in
Waterloo, IA

Overview

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.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Waterloo, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Waterloo 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 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Waterloo 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 08, 2021


Multifamily Lenders in Waterloo, IA

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


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 08, 2021


Waterloo Market

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%.


Population
67,328 people

County
Black Hawk County

Renters

39.1% of Waterloo households are renters.


Rent Burden

29.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Waterloo Demographics


Median Individual Income
$27,357 / year

Median Household Income
$47,327 / year

Families w/ Dual Incomes
51%

Unemployment Rate
5.7%
Household Income Distribution
Waterloo, IA

Median Age
37 years

Avg Family Size
3.03 people
Age Distribution
Waterloo, IA

College Education or Above
23%

STEM College Graduates
35%
Education Distribution
Waterloo, IA
Source: U.S. Census Bureau

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