Rolla is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Rolla are considered greater risk due to market dynamics. Interest rates for multifamily loans in Rolla are higher than the national average. Rolla 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 Rolla.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rolla 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 | 5.23% - 5.47% |
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 Rolla.
The city of Rolla in Phelps County has a population of 20,431. The median rent in Phelps County for a 2 bedroom is $783. The median Rolla resident is 26 years old with a yearly income of $19,629. The average family has 2.83 members and a median household income of $37,600. Rolla has a 36% higher education rate. The unemployment rate in Rolla is 5.6%.
59.9% of Rolla households are renters.
35.3% median household income spent on rent.
Bedrooms |
Phelps County 1 |
Missouri 2 |
National 2 |
|---|---|---|---|
| Studio | $540 | $535 | $737 |
| 1 bedroom | $594 | $594 | $813 |
| 2 bedroom | $783 | $761 | $1,015 |
| 3 bedroom | $974 | $1,010 | $1,325 |
| 4 bedroom | $1,228 | $1,155 | $1,521 |
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