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Multifamily Loans in
Carpentersville, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Carpentersville, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carpentersville 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 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
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 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 Carpentersville 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 Carpentersville, IL

All major multifamily lender types are lending in Carpentersville.


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


Carpentersville Market

The city of Carpentersville in Kane County has a population of 37,254. The median rent in Kane County for a 2 bedroom is $1,417. The median Carpentersville resident is 30 years old with a yearly income of $28,602. The average family has 4.05 members and a median household income of $68,997. Carpentersville has a 20% higher education rate. The unemployment rate in Carpentersville is 5.8%.


Population
37,254 people

County
Kane County

Renters

29.8% of Carpentersville households are renters.


Rent Burden

28.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kane 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

Carpentersville Demographics


Median Individual Income
$28,602 / year

Median Household Income
$68,997 / year

Families w/ Dual Incomes
65%

Unemployment Rate
5.8%
Household Income Distribution
Carpentersville, IL

Median Age
30 years

Avg Family Size
4.05 people
Age Distribution
Carpentersville, IL

College Education or Above
20%

STEM College Graduates
46%
Education Distribution
Carpentersville, IL
Source: U.S. Census Bureau

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