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Multifamily Loans in
Crest Hill, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Crest Hill, IL

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

All major multifamily lender types are lending in Crest Hill.


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


Crest Hill Market

The city of Crest Hill in Will County has a population of 20,376. The median rent in Will County for a 2 bedroom is $1,417. The median Crest Hill resident is 38 years old with a yearly income of $27,300. The average family has 3.11 members and a median household income of $56,616. Crest Hill has a 20% higher education rate. The unemployment rate in Crest Hill is 4.5%.


Population
20,376 people

County
Will County

Renters

33.5% of Crest Hill households are renters.


Rent Burden

32.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Will 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

Crest Hill Demographics


Median Individual Income
$27,300 / year

Median Household Income
$56,616 / year

Families w/ Dual Incomes
54%

Unemployment Rate
4.5%
Household Income Distribution
Crest Hill, IL

Median Age
38 years

Avg Family Size
3.11 people
Age Distribution
Crest Hill, IL

College Education or Above
20%

STEM College Graduates
33%
Education Distribution
Crest Hill, IL
Source: U.S. Census Bureau

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