Goshen is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Goshen are considered greater risk due to market dynamics. Interest rates for multifamily loans in Goshen are higher than the national average. Goshen 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 Goshen.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Goshen 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 Goshen.
The city of Goshen in Elkhart County has a population of 34,217. The median rent in Elkhart County for a 2 bedroom is $875. The median Goshen resident is 38 years old with a yearly income of $25,993. The average family has 3.3 members and a median household income of $48,626. Goshen has a 23% higher education rate. The unemployment rate in Goshen is 4.7%.
43.1% of Goshen households are renters.
26.9% median household income spent on rent.
Bedrooms |
Elkhart County 1 |
Indiana 2 |
National 2 |
|---|---|---|---|
| Studio | $578 | $593 | $737 |
| 1 bedroom | $679 | $666 | $813 |
| 2 bedroom | $875 | $840 | $1,015 |
| 3 bedroom | $1,110 | $1,099 | $1,325 |
| 4 bedroom | $1,187 | $1,251 | $1,521 |
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