Crystal Lake is located in a good market for 5+ unit multifamily loans. Multifamily loans in Crystal Lake are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Crystal Lake are competitive. Crystal Lake 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 Crystal Lake.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Crystal Lake are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Crystal Lake.
The city of Crystal Lake in McHenry County has a population of 39,829. The median rent in McHenry County for a 2 bedroom is $1,417. The median Crystal Lake resident is 40 years old with a yearly income of $40,952. The average family has 3.18 members and a median household income of $87,578. Crystal Lake has a 41% higher education rate. The unemployment rate in Crystal Lake is 4.4%.
24.5% of Crystal Lake households are renters.
28.6% median household income spent on rent.
Bedrooms |
McHenry 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 |
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