Westerville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Westerville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Westerville are competitive. Westerville 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 Westerville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Westerville 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 Westerville.
The city of Westerville in Franklin County has a population of 41,103. The median rent in Franklin County for a 2 bedroom is $1,105. The median Westerville resident is 42 years old with a yearly income of $42,753. The average family has 3.03 members and a median household income of $93,717. Westerville has a 52% higher education rate. The unemployment rate in Westerville is 3.0%.
22.4% of Westerville households are renters.
28.8% median household income spent on rent.
Bedrooms |
Franklin County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $768 | $597 | $737 |
| 1 bedroom | $886 | $662 | $813 |
| 2 bedroom | $1,105 | $834 | $1,015 |
| 3 bedroom | $1,391 | $1,084 | $1,325 |
| 4 bedroom | $1,574 | $1,205 | $1,521 |
We're here to help.