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Multifamily Loans in
Wyoming, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Wyoming, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wyoming 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/04/2021. This is not an offer or commitment to lend. Multifamily loan rates in Wyoming 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 05, 2021


Multifamily Lenders in Wyoming, MI

All major multifamily lender types are lending in Wyoming.


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 Dec 05, 2021


Wyoming Market

The city of Wyoming in Kent County has a population of 75,667. The median rent in Kent County for a 2 bedroom is $1,059. The median Wyoming resident is 34 years old with a yearly income of $28,451. The average family has 3.25 members and a median household income of $54,328. Wyoming has a 21% higher education rate. The unemployment rate in Wyoming is 4.5%.


Population
75,667 people

County
Kent County

Renters

34.4% of Wyoming households are renters.


Rent Burden

28.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kent County 1
Michigan 2
National 2
Studio $787 $607 $737
1 bedroom $870 $678 $813
2 bedroom $1,059 $855 $1,015
3 bedroom $1,395 $1,118 $1,325
4 bedroom $1,599 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Wyoming Demographics


Median Individual Income
$28,451 / year

Median Household Income
$54,328 / year

Families w/ Dual Incomes
59%

Unemployment Rate
4.5%
Household Income Distribution
Wyoming, MI

Median Age
34 years

Avg Family Size
3.25 people
Age Distribution
Wyoming, MI

College Education or Above
21%

STEM College Graduates
37%
Education Distribution
Wyoming, MI
Source: U.S. Census Bureau

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