Wyandotte is located in a good market for 5+ unit multifamily loans. Multifamily loans in Wyandotte are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Wyandotte are competitive. Wyandotte 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 Wyandotte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wyandotte 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 Wyandotte.
The city of Wyandotte in Wayne County has a population of 24,859. The median rent in Wayne County for a 2 bedroom is $1,126. The median Wyandotte resident is 42 years old with a yearly income of $32,660. The average family has 2.96 members and a median household income of $54,462. Wyandotte has a 19% higher education rate. The unemployment rate in Wyandotte is 6.2%.
28.1% of Wyandotte households are renters.
28.8% median household income spent on rent.
Bedrooms |
Wayne County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $748 | $607 | $737 |
| 1 bedroom | $881 | $678 | $813 |
| 2 bedroom | $1,126 | $855 | $1,015 |
| 3 bedroom | $1,443 | $1,118 | $1,325 |
| 4 bedroom | $1,565 | $1,238 | $1,521 |
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