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Multifamily Loans in
Ypsilanti, MI

Overview

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

Get multifamily loan quotes for Dec 05, 2021


Multifamily Loan Rates in Ypsilanti, MI

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ypsilanti 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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Ypsilanti 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 Ypsilanti, MI

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


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 05, 2021


Ypsilanti Market

The city of Ypsilanti in Washtenaw County has a population of 20,171. The median rent in Washtenaw County for a 2 bedroom is $1,374. The median Ypsilanti resident is 24 years old with a yearly income of $20,820. The average family has 3.15 members and a median household income of $39,332. Ypsilanti has a 43% higher education rate. The unemployment rate in Ypsilanti is 8.5%.


Population
20,171 people

County
Washtenaw County

Renters

68.2% of Ypsilanti households are renters.


Rent Burden

37.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Washtenaw County 1
Michigan 2
National 2
Studio $1,118 $607 $737
1 bedroom $1,134 $678 $813
2 bedroom $1,374 $855 $1,015
3 bedroom $1,732 $1,118 $1,325
4 bedroom $2,057 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Ypsilanti Demographics


Median Individual Income
$20,820 / year

Median Household Income
$39,332 / year

Families w/ Dual Incomes
46%

Unemployment Rate
8.5%
Household Income Distribution
Ypsilanti, MI

Median Age
24 years

Avg Family Size
3.15 people
Age Distribution
Ypsilanti, MI

College Education or Above
43%

STEM College Graduates
45%
Education Distribution
Ypsilanti, MI
Source: U.S. Census Bureau

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