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Multifamily Loans in
Calumet City, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Calumet City, IL

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

All major multifamily lender types are lending in Calumet City.


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


Calumet City Market

The city of Calumet City in Cook County has a population of 35,913. The median rent in Cook County for a 2 bedroom is $1,417. The median Calumet City resident is 37 years old with a yearly income of $25,750. The average family has 3.46 members and a median household income of $44,456. Calumet City has a 18% higher education rate. The unemployment rate in Calumet City is 16.9%.


Population
35,913 people

County
Cook County

Renters

45.5% of Calumet City households are renters.


Rent Burden

36.2% 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

Calumet City Demographics


Median Individual Income
$25,750 / year

Median Household Income
$44,456 / year

Families w/ Dual Incomes
45%

Unemployment Rate
16.9%
Household Income Distribution
Calumet City, IL

Median Age
37 years

Avg Family Size
3.46 people
Age Distribution
Calumet City, IL

College Education or Above
18%

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

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