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Multifamily Loans in
Danvers, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Danvers, MA

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

All major multifamily lender types are lending in Danvers.


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


Danvers Market

The city of Danvers in Essex County has a population of 27,586. The median rent in Essex County for a 2 bedroom is $2,470. The median Danvers resident is 45 years old with a yearly income of $40,770. The average family has 3.1 members and a median household income of $89,250. Danvers has a 43% higher education rate. The unemployment rate in Danvers is 3.7%.


Population
27,586 people

County
Essex County

Renters

28.7% of Danvers households are renters.


Rent Burden

40.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Essex 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

Danvers Demographics


Median Individual Income
$40,770 / year

Median Household Income
$89,250 / year

Families w/ Dual Incomes
65%

Unemployment Rate
3.7%
Household Income Distribution
Danvers, MA

Median Age
45 years

Avg Family Size
3.1 people
Age Distribution
Danvers, MA

College Education or Above
43%

STEM College Graduates
41%
Education Distribution
Danvers, MA
Source: U.S. Census Bureau

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