Falmouth is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Falmouth are considered greater risk due to market dynamics. Interest rates for multifamily loans in Falmouth are higher than the national average. Falmouth apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Falmouth.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Falmouth are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.93% - 7.17% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Falmouth.
The city of Falmouth in Barnstable County has a population of 31,124. The median rent in Barnstable County for a 2 bedroom is $1,758. The median Falmouth resident is 55 years old with a yearly income of $35,795. The average family has 2.81 members and a median household income of $75,820. Falmouth has a 45% higher education rate. The unemployment rate in Falmouth is 4.0%.
22.1% of Falmouth households are renters.
35.9% median household income spent on rent.
Bedrooms |
Barnstable County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,160 | $1,259 | $737 |
| 1 bedroom | $1,334 | $1,399 | $813 |
| 2 bedroom | $1,758 | $1,747 | $1,015 |
| 3 bedroom | $2,203 | $2,190 | $1,325 |
| 4 bedroom | $2,384 | $2,423 | $1,521 |
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