Ponca City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Ponca City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Ponca City are higher than the national average. Ponca City 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 Ponca City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ponca City 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 | 5.28% - 5.52% |
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 Ponca City.
The city of Ponca City in Kay County has a population of 23,660. The median rent in Kay County for a 2 bedroom is $762. The median Ponca City resident is 37 years old with a yearly income of $24,572. The average family has 3.13 members and a median household income of $44,043. Ponca City has a 21% higher education rate. The unemployment rate in Ponca City is 6.6%.
38% of Ponca City households are renters.
25.7% median household income spent on rent.
Bedrooms |
Kay County 1 |
Oklahoma 2 |
National 2 |
|---|---|---|---|
| Studio | $574 | $589 | $737 |
| 1 bedroom | $578 | $623 | $813 |
| 2 bedroom | $762 | $790 | $1,015 |
| 3 bedroom | $1,017 | $1,041 | $1,325 |
| 4 bedroom | $1,108 | $1,191 | $1,521 |
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