Loading...

Multifamily Loans in
Billerica, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Billerica, MA

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

All major multifamily lender types are lending in Billerica.


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


Billerica Market

The city of Billerica in Middlesex County has a population of 43,200. The median rent in Middlesex County for a 2 bedroom is $2,470. The median Billerica resident is 41 years old with a yearly income of $44,416. The average family has 3.19 members and a median household income of $105,343. Billerica has a 36% higher education rate. The unemployment rate in Billerica is 4.7%.


Population
43,200 people

County
Middlesex County

Renters

19.7% of Billerica households are renters.


Rent Burden

28.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Middlesex 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

Billerica Demographics


Median Individual Income
$44,416 / year

Median Household Income
$105,343 / year

Families w/ Dual Incomes
68%

Unemployment Rate
4.7%
Household Income Distribution
Billerica, MA

Median Age
41 years

Avg Family Size
3.19 people
Age Distribution
Billerica, MA

College Education or Above
36%

STEM College Graduates
46%
Education Distribution
Billerica, MA
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