Loading...

Multifamily Loans in
Bangor, ME

Overview

Bangor is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Bangor are considered greater risk due to market dynamics. Interest rates for multifamily loans in Bangor are higher than the national average. Bangor 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 Bangor.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Bangor, ME

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bangor are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.78% - 4.02%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Bangor may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Bangor, ME

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bangor.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Bangor Market

The city of Bangor in Penobscot County has a population of 32,262. The median rent in Penobscot County for a 2 bedroom is $1,107. The median Bangor resident is 38 years old with a yearly income of $25,465. The average family has 2.86 members and a median household income of $46,625. Bangor has a 36% higher education rate. The unemployment rate in Bangor is 5.3%.


Population
32,262 people

County
Penobscot County

Renters

51.7% of Bangor households are renters.


Rent Burden

32.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Penobscot County 1
Maine 2
National 2
Studio $741 $700 $737
1 bedroom $865 $761 $813
2 bedroom $1,107 $956 $1,015
3 bedroom $1,377 $1,232 $1,325
4 bedroom $1,811 $1,424 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Bangor Demographics


Median Individual Income
$25,465 / year

Median Household Income
$46,625 / year

Families w/ Dual Incomes
51%

Unemployment Rate
5.3%
Household Income Distribution
Bangor, ME

Median Age
38 years

Avg Family Size
2.86 people
Age Distribution
Bangor, ME

College Education or Above
36%

STEM College Graduates
46%
Education Distribution
Bangor, ME
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day