Loading...

Multifamily Loans in
Chicopee, MA

Overview

Chicopee is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Chicopee are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Chicopee are slightly higher than the national average. Chicopee apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Chicopee.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Chicopee, MA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Chicopee 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 $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
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®
$6M to $100M
5 Year Fixed 3.29% - 3.54%
7 Year Fixed 3.53% - 3.98%
10 Year Fixed 3.49% - 3.89%
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 Chicopee 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 Chicopee, MA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Chicopee.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Nov 26, 2021


Chicopee Market

The city of Chicopee in Hampden County has a population of 55,126. The median rent in Hampden County for a 2 bedroom is $1,209. The median Chicopee resident is 40 years old with a yearly income of $29,383. The average family has 3 members and a median household income of $53,225. Chicopee has a 20% higher education rate. The unemployment rate in Chicopee is 5.9%.


Population
55,126 people

County
Hampden County

Renters

41.4% of Chicopee households are renters.


Rent Burden

34.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hampden County 1
Massachusetts 2
National 2
Studio $798 $1,259 $737
1 bedroom $954 $1,399 $813
2 bedroom $1,209 $1,747 $1,015
3 bedroom $1,504 $2,190 $1,325
4 bedroom $1,764 $2,423 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Chicopee Demographics


Median Individual Income
$29,383 / year

Median Household Income
$53,225 / year

Families w/ Dual Incomes
51%

Unemployment Rate
5.9%
Household Income Distribution
Chicopee, MA

Median Age
40 years

Avg Family Size
3 people
Age Distribution
Chicopee, MA

College Education or Above
20%

STEM College Graduates
46%
Education Distribution
Chicopee, 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