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Multifamily Loans in
Berlin, CT

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Berlin, CT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Berlin 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 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
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 Berlin 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 Berlin, CT

All major multifamily lender types are lending in Berlin.


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 Dec 04, 2021


Berlin Market

The city of Berlin in Hartford County has a population of 20,484. The median rent in Hartford County for a 2 bedroom is $1,437. The median Berlin resident is 48 years old with a yearly income of $49,196. The average family has 2.94 members and a median household income of $101,127. Berlin has a 41% higher education rate. The unemployment rate in Berlin is 3.6%.


Population
20,484 people

County
Hartford County

Renters

15.6% of Berlin households are renters.


Rent Burden

29.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hartford County 1
Connecticut 2
National 2
Studio $948 $974 $737
1 bedroom $1,164 $1,155 $813
2 bedroom $1,437 $1,442 $1,015
3 bedroom $1,787 $1,820 $1,325
4 bedroom $2,089 $2,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Berlin Demographics


Median Individual Income
$49,196 / year

Median Household Income
$101,127 / year

Families w/ Dual Incomes
60%

Unemployment Rate
3.6%
Household Income Distribution
Berlin, CT

Median Age
48 years

Avg Family Size
2.94 people
Age Distribution
Berlin, CT

College Education or Above
41%

STEM College Graduates
42%
Education Distribution
Berlin, CT
Source: U.S. Census Bureau

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