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Multifamily Loans in
Crystal Lake, IL

Overview

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.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Crystal Lake, IL

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 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 3.24% - 3.49%
7 Year Fixed 3.48% - 3.93%
10 Year Fixed 3.44% - 3.84%
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 Crystal Lake 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 Crystal Lake, IL

All major multifamily lender types are lending in Crystal Lake.


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


Crystal Lake Market

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%.


Population
39,829 people

County
McHenry County

Renters

24.5% of Crystal Lake households are renters.


Rent Burden

28.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Crystal Lake Demographics


Median Individual Income
$40,952 / year

Median Household Income
$87,578 / year

Families w/ Dual Incomes
62%

Unemployment Rate
4.4%
Household Income Distribution
Crystal Lake, IL

Median Age
40 years

Avg Family Size
3.18 people
Age Distribution
Crystal Lake, IL

College Education or Above
41%

STEM College Graduates
40%
Education Distribution
Crystal Lake, IL
Source: U.S. Census Bureau

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