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Multifamily Loans in
Elmhurst, IL

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Elmhurst, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Elmhurst 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 3.19% - 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 Elmhurst 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 Elmhurst, IL

All major multifamily lender types are lending in Elmhurst.


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


Elmhurst Market

The city of Elmhurst in DuPage County has a population of 46,746. The median rent in DuPage County for a 2 bedroom is $1,417. The median Elmhurst resident is 40 years old with a yearly income of $52,127. The average family has 3.34 members and a median household income of $118,609. Elmhurst has a 60% higher education rate. The unemployment rate in Elmhurst is 4.1%.


Population
46,746 people

County
DuPage County

Renters

19.2% of Elmhurst households are renters.


Rent Burden

26.6% 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

Elmhurst Demographics


Median Individual Income
$52,127 / year

Median Household Income
$118,609 / year

Families w/ Dual Incomes
64%

Unemployment Rate
4.1%
Household Income Distribution
Elmhurst, IL

Median Age
40 years

Avg Family Size
3.34 people
Age Distribution
Elmhurst, IL

College Education or Above
60%

STEM College Graduates
39%
Education Distribution
Elmhurst, IL
Source: U.S. Census Bureau

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