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Multifamily Loans in
Beverly, MA

Overview

Beverly is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Beverly are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Beverly are some of the lowest nationally. Beverly 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 Beverly.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Beverly, MA

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.19% - 3.44%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.39% - 3.79%
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 Beverly 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 Beverly, MA

All major multifamily lender types are lending in Beverly.


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


Beverly Market

The city of Beverly in Essex County has a population of 42,174. The median rent in Essex County for a 2 bedroom is $2,470. The median Beverly resident is 40 years old with a yearly income of $37,157. The average family has 3.04 members and a median household income of $80,586. Beverly has a 51% higher education rate. The unemployment rate in Beverly is 3.4%.


Population
42,174 people

County
Essex County

Renters

39.5% of Beverly households are renters.


Rent Burden

41.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Essex County 1
Massachusetts 2
National 2
Studio $1,842 $1,259 $737
1 bedroom $2,034 $1,399 $813
2 bedroom $2,470 $1,747 $1,015
3 bedroom $3,072 $2,190 $1,325
4 bedroom $3,349 $2,423 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Beverly Demographics


Median Individual Income
$37,157 / year

Median Household Income
$80,586 / year

Families w/ Dual Incomes
62%

Unemployment Rate
3.4%
Household Income Distribution
Beverly, MA

Median Age
40 years

Avg Family Size
3.04 people
Age Distribution
Beverly, MA

College Education or Above
51%

STEM College Graduates
42%
Education Distribution
Beverly, MA
Source: U.S. Census Bureau

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