Loading...

Multifamily Loans in
Des Plaines, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Des Plaines, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Des Plaines 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
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 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
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 Des Plaines 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 Des Plaines, IL

All major multifamily lender types are lending in Des Plaines.


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


Des Plaines Market

The city of Des Plaines in Cook County has a population of 58,899. The median rent in Cook County for a 2 bedroom is $1,417. The median Des Plaines resident is 43 years old with a yearly income of $33,936. The average family has 3.25 members and a median household income of $69,760. Des Plaines has a 38% higher education rate. The unemployment rate in Des Plaines is 4.5%.


Population
58,899 people

County
Cook County

Renters

24.4% of Des Plaines households are renters.


Rent Burden

31.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cook 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

Des Plaines Demographics


Median Individual Income
$33,936 / year

Median Household Income
$69,760 / year

Families w/ Dual Incomes
61%

Unemployment Rate
4.5%
Household Income Distribution
Des Plaines, IL

Median Age
43 years

Avg Family Size
3.25 people
Age Distribution
Des Plaines, IL

College Education or Above
38%

STEM College Graduates
45%
Education Distribution
Des Plaines, IL
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