Waverly is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Waverly are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Waverly are slightly higher than the national average. Waverly 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 Waverly.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Waverly are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.84% - 7.08% |
| 10 Year Fixed | 6.73% - 6.97% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Waverly.
The city of Waverly in Eaton County has a population of 24,201. The median rent in Eaton County for a 2 bedroom is $962. The median Waverly resident is 40 years old with a yearly income of $35,600. The average family has 2.86 members and a median household income of $63,362. Waverly has a 39% higher education rate. The unemployment rate in Waverly is 5.2%.
46.5% of Waverly households are renters.
24.3% median household income spent on rent.
Bedrooms |
Eaton County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $751 | $607 | $737 |
| 1 bedroom | $783 | $678 | $813 |
| 2 bedroom | $962 | $855 | $1,015 |
| 3 bedroom | $1,239 | $1,118 | $1,325 |
| 4 bedroom | $1,338 | $1,238 | $1,521 |
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