Moline is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Moline are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Moline are slightly higher than the national average. Moline 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 Moline.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Moline 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 Moline.
The city of Moline in Rock Island County has a population of 41,356. The median rent in Rock Island County for a 2 bedroom is $832. The median Moline resident is 40 years old with a yearly income of $31,857. The average family has 2.93 members and a median household income of $54,431. Moline has a 28% higher education rate. The unemployment rate in Moline is 4.7%.
33.8% of Moline households are renters.
25.8% median household income spent on rent.
Bedrooms |
Rock Island County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $549 | $599 | $737 |
| 1 bedroom | $665 | $669 | $813 |
| 2 bedroom | $832 | $840 | $1,015 |
| 3 bedroom | $1,111 | $1,100 | $1,325 |
| 4 bedroom | $1,255 | $1,238 | $1,521 |
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