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Multifamily Loans in
East St. Louis, IL

Overview

East St. Louis is located in a good market for 5+ unit multifamily loans. Multifamily loans in East St. Louis are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in East St. Louis are competitive. East St. Louis 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 East St. Louis.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in East St. Louis, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East St. Louis 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 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
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 East St. Louis 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 East St. Louis, IL

All major multifamily lender types are lending in East St. Louis.


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


East St. Louis Market

The city of East St. Louis in St. Clair County has a population of 26,047. The median rent in St. Clair County for a 2 bedroom is $1,005. The median East St. Louis resident is 37 years old with a yearly income of $16,867. The average family has 3.66 members and a median household income of $24,343. East St. Louis has a 12% higher education rate. The unemployment rate in East St. Louis is 18.3%.


Population
26,047 people

County
St. Clair County

Renters

52.9% of East St. Louis households are renters.


Rent Burden

38.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
St. Clair County 1
Illinois 2
National 2
Studio $719 $599 $737
1 bedroom $783 $669 $813
2 bedroom $1,005 $840 $1,015
3 bedroom $1,311 $1,100 $1,325
4 bedroom $1,543 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

East St. Louis Demographics


Median Individual Income
$16,867 / year

Median Household Income
$24,343 / year

Families w/ Dual Incomes
33%

Unemployment Rate
18.3%
Household Income Distribution
East St. Louis, IL

Median Age
37 years

Avg Family Size
3.66 people
Age Distribution
East St. Louis, IL

College Education or Above
12%

STEM College Graduates
26%
Education Distribution
East St. Louis, IL
Source: U.S. Census Bureau

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