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Multifamily Loans in
Buffalo Grove, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Buffalo Grove, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Buffalo Grove 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
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 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Buffalo Grove 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 02, 2021


Multifamily Lenders in Buffalo Grove, IL

All major multifamily lender types are lending in Buffalo Grove.


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 02, 2021


Buffalo Grove Market

The city of Buffalo Grove in Cook County has a population of 40,494. The median rent in Cook County for a 2 bedroom is $1,417. The median Buffalo Grove resident is 42 years old with a yearly income of $53,701. The average family has 3.15 members and a median household income of $115,951. Buffalo Grove has a 66% higher education rate. The unemployment rate in Buffalo Grove is 3.5%.


Population
40,494 people

County
Cook County

Renters

20.2% of Buffalo Grove households are renters.


Rent Burden

23.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cook 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

Buffalo Grove Demographics


Median Individual Income
$53,701 / year

Median Household Income
$115,951 / year

Families w/ Dual Incomes
66%

Unemployment Rate
3.5%
Household Income Distribution
Buffalo Grove, IL

Median Age
42 years

Avg Family Size
3.15 people
Age Distribution
Buffalo Grove, IL

College Education or Above
66%

STEM College Graduates
51%
Education Distribution
Buffalo Grove, IL
Source: U.S. Census Bureau

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