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Multifamily Loans in
Gardner, MA

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Gardner, MA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Gardner 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 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
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 3.24% - 3.49%
7 Year Fixed 3.48% - 3.93%
10 Year Fixed 3.44% - 3.84%
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 Gardner 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 Gardner, MA

All major multifamily lender types are lending in Gardner.


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


Gardner Market

The city of Gardner in Worcester County has a population of 20,683. The median rent in Worcester County for a 2 bedroom is $1,552. The median Gardner resident is 41 years old with a yearly income of $28,567. The average family has 2.92 members and a median household income of $49,679. Gardner has a 18% higher education rate. The unemployment rate in Gardner is 3.9%.


Population
20,683 people

County
Worcester County

Renters

48% of Gardner households are renters.


Rent Burden

30.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Worcester County 1
Massachusetts 2
National 2
Studio $1,138 $1,259 $737
1 bedroom $1,214 $1,399 $813
2 bedroom $1,552 $1,747 $1,015
3 bedroom $1,930 $2,190 $1,325
4 bedroom $2,105 $2,423 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Gardner Demographics


Median Individual Income
$28,567 / year

Median Household Income
$49,679 / year

Families w/ Dual Incomes
52%

Unemployment Rate
3.9%
Household Income Distribution
Gardner, MA

Median Age
41 years

Avg Family Size
2.92 people
Age Distribution
Gardner, MA

College Education or Above
18%

STEM College Graduates
41%
Education Distribution
Gardner, MA
Source: U.S. Census Bureau

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