Kentwood is located in a good market for 5+ unit multifamily loans. Multifamily loans in Kentwood are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Kentwood are competitive. Kentwood 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 Kentwood.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kentwood 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 Kentwood.
The city of Kentwood in Kent County has a population of 51,898. The median rent in Kent County for a 2 bedroom is $1,059. The median Kentwood resident is 34 years old with a yearly income of $29,852. The average family has 3.18 members and a median household income of $54,197. Kentwood has a 32% higher education rate. The unemployment rate in Kentwood is 3.0%.
41.8% of Kentwood households are renters.
29.7% median household income spent on rent.
Bedrooms |
Kent County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $787 | $607 | $737 |
| 1 bedroom | $870 | $678 | $813 |
| 2 bedroom | $1,059 | $855 | $1,015 |
| 3 bedroom | $1,395 | $1,118 | $1,325 |
| 4 bedroom | $1,599 | $1,238 | $1,521 |
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