Chillicothe is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Chillicothe are considered greater risk due to market dynamics. Interest rates for multifamily loans in Chillicothe are higher than the national average. Chillicothe 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 Chillicothe.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chillicothe 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 | 5.23% - 5.47% |
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 Chillicothe.
The city of Chillicothe in Ross County has a population of 21,722. The median rent in Ross County for a 2 bedroom is $841. The median Chillicothe resident is 41 years old with a yearly income of $25,579. The average family has 2.86 members and a median household income of $44,323. Chillicothe has a 20% higher education rate. The unemployment rate in Chillicothe is 5.9%.
42.9% of Chillicothe households are renters.
30.5% median household income spent on rent.
Bedrooms |
Ross County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $654 | $597 | $737 |
| 1 bedroom | $661 | $662 | $813 |
| 2 bedroom | $841 | $834 | $1,015 |
| 3 bedroom | $1,046 | $1,084 | $1,325 |
| 4 bedroom | $1,140 | $1,205 | $1,521 |
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