Butte is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Butte are considered greater risk due to market dynamics. Interest rates for multifamily loans in Butte are higher than the national average. Butte 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 Butte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Butte 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Butte.
The city of Butte in Silver Bow County has a population of 34,207. The median rent in Silver Bow County for a 2 bedroom is $894. The median Butte resident is 40 years old with a yearly income of $25,254. The average family has 3.05 members and a median household income of $45,797. Butte has a 27% higher education rate. The unemployment rate in Butte is 4.6%.
31.2% of Butte households are renters.
36.6% median household income spent on rent.
Bedrooms |
Silver Bow County 1 |
Montana 2 |
National 2 |
|---|---|---|---|
| Studio | $650 | $620 | $737 |
| 1 bedroom | $724 | $690 | $813 |
| 2 bedroom | $894 | $877 | $1,015 |
| 3 bedroom | $1,112 | $1,169 | $1,325 |
| 4 bedroom | $1,236 | $1,370 | $1,521 |
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