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Multifamily Loans in
Chelsea, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Chelsea, MA

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

All major multifamily lender types are lending in Chelsea.


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


Chelsea Market

The city of Chelsea in Suffolk County has a population of 39,690. The median rent in Suffolk County for a 2 bedroom is $2,470. The median Chelsea resident is 33 years old with a yearly income of $26,983. The average family has 3.76 members and a median household income of $56,802. Chelsea has a 19% higher education rate. The unemployment rate in Chelsea is 4.7%.


Population
39,690 people

County
Suffolk County

Renters

74.1% of Chelsea households are renters.


Rent Burden

39% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Suffolk 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

Chelsea Demographics


Median Individual Income
$26,983 / year

Median Household Income
$56,802 / year

Families w/ Dual Incomes
62%

Unemployment Rate
4.7%
Household Income Distribution
Chelsea, MA

Median Age
33 years

Avg Family Size
3.76 people
Age Distribution
Chelsea, MA

College Education or Above
19%

STEM College Graduates
43%
Education Distribution
Chelsea, MA
Source: U.S. Census Bureau

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