Ypsilanti is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Ypsilanti are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Ypsilanti are slightly higher than the national average. Ypsilanti apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Ypsilanti.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ypsilanti 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.13% - 5.37% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Ypsilanti.
The city of Ypsilanti in Washtenaw County has a population of 20,171. The median rent in Washtenaw County for a 2 bedroom is $1,374. The median Ypsilanti resident is 24 years old with a yearly income of $20,820. The average family has 3.15 members and a median household income of $39,332. Ypsilanti has a 43% higher education rate. The unemployment rate in Ypsilanti is 8.5%.
68.2% of Ypsilanti households are renters.
37.3% median household income spent on rent.
Bedrooms |
Washtenaw County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $1,118 | $607 | $737 |
| 1 bedroom | $1,134 | $678 | $813 |
| 2 bedroom | $1,374 | $855 | $1,015 |
| 3 bedroom | $1,732 | $1,118 | $1,325 |
| 4 bedroom | $2,057 | $1,238 | $1,521 |
We're here to help.