Holland is located in a good market for 5+ unit multifamily loans. Multifamily loans in Holland are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Holland are competitive. Holland apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Holland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Holland 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Holland.
The city of Holland in Ottawa County has a population of 33,216. The median rent in Ottawa County for a 2 bedroom is $989. The median Holland resident is 33 years old with a yearly income of $25,779. The average family has 3.15 members and a median household income of $57,002. Holland has a 33% higher education rate. The unemployment rate in Holland is 3.5%.
38.5% of Holland households are renters.
27% median household income spent on rent.
Bedrooms |
Ottawa County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $848 | $607 | $737 |
| 1 bedroom | $868 | $678 | $813 |
| 2 bedroom | $989 | $855 | $1,015 |
| 3 bedroom | $1,377 | $1,118 | $1,325 |
| 4 bedroom | $1,515 | $1,238 | $1,521 |
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