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Multifamily Loans in
Belleville, IL

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Belleville, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Belleville 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 Belleville 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 Belleville, IL

All major multifamily lender types are lending in Belleville.


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


Belleville Market

The city of Belleville in St. Clair County has a population of 40,897. The median rent in St. Clair County for a 2 bedroom is $1,005. The median Belleville resident is 37 years old with a yearly income of $29,598. The average family has 3.19 members and a median household income of $48,099. Belleville has a 24% higher education rate. The unemployment rate in Belleville is 5.7%.


Population
40,897 people

County
St. Clair County

Renters

40% of Belleville households are renters.


Rent Burden

31.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
St. Clair County 1
Illinois 2
National 2
Studio $719 $599 $737
1 bedroom $783 $669 $813
2 bedroom $1,005 $840 $1,015
3 bedroom $1,311 $1,100 $1,325
4 bedroom $1,543 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Belleville Demographics


Median Individual Income
$29,598 / year

Median Household Income
$48,099 / year

Families w/ Dual Incomes
53%

Unemployment Rate
5.7%
Household Income Distribution
Belleville, IL

Median Age
37 years

Avg Family Size
3.19 people
Age Distribution
Belleville, IL

College Education or Above
24%

STEM College Graduates
36%
Education Distribution
Belleville, IL
Source: U.S. Census Bureau

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