Alliance is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Alliance are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Alliance are slightly higher than the national average. Alliance 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 Alliance.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alliance are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.13% - 5.37% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Alliance.
The city of Alliance in Stark County has a population of 21,446. The median rent in Stark County for a 2 bedroom is $795. The median Alliance resident is 35 years old with a yearly income of $20,353. The average family has 2.94 members and a median household income of $35,718. Alliance has a 19% higher education rate. The unemployment rate in Alliance is 7.1%.
51.5% of Alliance households are renters.
30.8% median household income spent on rent.
Bedrooms |
Stark County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $525 | $597 | $737 |
| 1 bedroom | $603 | $662 | $813 |
| 2 bedroom | $795 | $834 | $1,015 |
| 3 bedroom | $1,014 | $1,084 | $1,325 |
| 4 bedroom | $1,078 | $1,205 | $1,521 |
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