Howard is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Howard are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Howard are slightly higher than the national average. Howard 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 Howard.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Howard 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 Howard.
The city of Howard in Brown County has a population of 20,177. The median rent in Brown County for a 2 bedroom is $946. The median Howard resident is 41 years old with a yearly income of $37,683. The average family has 2.93 members and a median household income of $70,385. Howard has a 30% higher education rate. The unemployment rate in Howard is 2.6%.
35% of Howard households are renters.
23.9% median household income spent on rent.
Bedrooms |
Brown County 1 |
Wisconsin 2 |
National 2 |
|---|---|---|---|
| Studio | $668 | $595 | $737 |
| 1 bedroom | $721 | $668 | $813 |
| 2 bedroom | $946 | $856 | $1,015 |
| 3 bedroom | $1,337 | $1,127 | $1,325 |
| 4 bedroom | $1,352 | $1,256 | $1,521 |
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