Terre Haute is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Terre Haute are considered greater risk due to market dynamics. Interest rates for multifamily loans in Terre Haute are higher than the national average. Terre Haute 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 Terre Haute.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Terre Haute 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 Terre Haute.
The city of Terre Haute in Vigo County has a population of 60,622. The median rent in Vigo County for a 2 bedroom is $845. The median Terre Haute resident is 33 years old with a yearly income of $19,360. The average family has 2.99 members and a median household income of $36,406. Terre Haute has a 23% higher education rate. The unemployment rate in Terre Haute is 9.0%.
47.2% of Terre Haute households are renters.
36.3% median household income spent on rent.
Bedrooms |
Vigo County 1 |
Indiana 2 |
National 2 |
|---|---|---|---|
| Studio | $580 | $593 | $737 |
| 1 bedroom | $676 | $666 | $813 |
| 2 bedroom | $845 | $840 | $1,015 |
| 3 bedroom | $1,073 | $1,099 | $1,325 |
| 4 bedroom | $1,306 | $1,251 | $1,521 |
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