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Multifamily Loans in
Downers Grove, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Downers Grove, IL

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

All major multifamily lender types are lending in Downers Grove.


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


Downers Grove Market

The city of Downers Grove in DuPage County has a population of 49,057. The median rent in DuPage County for a 2 bedroom is $1,417. The median Downers Grove resident is 43 years old with a yearly income of $45,155. The average family has 3.13 members and a median household income of $94,893. Downers Grove has a 56% higher education rate. The unemployment rate in Downers Grove is 4.1%.


Population
49,057 people

County
DuPage County

Renters

24.1% of Downers Grove households are renters.


Rent Burden

35.1% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
DuPage 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

Downers Grove Demographics


Median Individual Income
$45,155 / year

Median Household Income
$94,893 / year

Families w/ Dual Incomes
61%

Unemployment Rate
4.1%
Household Income Distribution
Downers Grove, IL

Median Age
43 years

Avg Family Size
3.13 people
Age Distribution
Downers Grove, IL

College Education or Above
56%

STEM College Graduates
45%
Education Distribution
Downers Grove, IL
Source: U.S. Census Bureau

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