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Multifamily Loans in
Batavia, IL

Overview

Batavia is located in a good market for 5+ unit multifamily loans. Multifamily loans in Batavia are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Batavia are competitive. Batavia 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 Batavia.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Batavia, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Batavia 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 $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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®
$7.5M to $100M
5 Year Fixed 3.24% - 3.49%
7 Year Fixed 3.48% - 3.93%
10 Year Fixed 3.44% - 3.84%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/25/2021. This is not an offer or commitment to lend. Multifamily loan rates in Batavia 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 Nov 26, 2021


Multifamily Lenders in Batavia, IL

All major multifamily lender types are lending in Batavia.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Nov 26, 2021


Batavia Market

The city of Batavia in Kane County has a population of 26,420. The median rent in Kane County for a 2 bedroom is $1,417. The median Batavia resident is 40 years old with a yearly income of $44,168. The average family has 3.19 members and a median household income of $93,789. Batavia has a 51% higher education rate. The unemployment rate in Batavia is 4.2%.


Population
26,420 people

County
Kane County

Renters

24% of Batavia households are renters.


Rent Burden

38.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kane County 1
Illinois 2
National 2
Studio $1,104 $599 $737
1 bedroom $1,224 $669 $813
2 bedroom $1,417 $840 $1,015
3 bedroom $1,799 $1,100 $1,325
4 bedroom $2,147 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Batavia Demographics


Median Individual Income
$44,168 / year

Median Household Income
$93,789 / year

Families w/ Dual Incomes
66%

Unemployment Rate
4.2%
Household Income Distribution
Batavia, IL

Median Age
40 years

Avg Family Size
3.19 people
Age Distribution
Batavia, IL

College Education or Above
51%

STEM College Graduates
42%
Education Distribution
Batavia, IL
Source: U.S. Census Bureau

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