Fort Wayne is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Fort Wayne are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Fort Wayne are slightly higher than the national average. Fort Wayne 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 Fort Wayne.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Wayne 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 Fort Wayne.
The city of Fort Wayne in Allen County has a population of 270,402. The median rent in Allen County for a 2 bedroom is $831. The median Fort Wayne resident is 35 years old with a yearly income of $28,548. The average family has 3.13 members and a median household income of $49,411. Fort Wayne has a 28% higher education rate. The unemployment rate in Fort Wayne is 5.5%.
38% of Fort Wayne households are renters.
28.6% median household income spent on rent.
Bedrooms |
Allen County 1 |
Indiana 2 |
National 2 |
|---|---|---|---|
| Studio | $557 | $593 | $737 |
| 1 bedroom | $669 | $666 | $813 |
| 2 bedroom | $831 | $840 | $1,015 |
| 3 bedroom | $1,064 | $1,099 | $1,325 |
| 4 bedroom | $1,174 | $1,251 | $1,521 |
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