East Moline is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in East Moline are considered moderate risk due to market dynamics. Interest rates for multifamily loans in East Moline are slightly higher than the national average. East Moline 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 East Moline.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East Moline 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 East Moline.
The city of East Moline in Rock Island County has a population of 20,645. The median rent in Rock Island County for a 2 bedroom is $832. The median East Moline resident is 39 years old with a yearly income of $28,404. The average family has 3.05 members and a median household income of $53,660. East Moline has a 20% higher education rate. The unemployment rate in East Moline is 6.1%.
32.8% of East Moline households are renters.
29.7% median household income spent on rent.
Bedrooms |
Rock Island County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $549 | $599 | $737 |
| 1 bedroom | $665 | $669 | $813 |
| 2 bedroom | $832 | $840 | $1,015 |
| 3 bedroom | $1,111 | $1,100 | $1,325 |
| 4 bedroom | $1,255 | $1,238 | $1,521 |
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