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Multifamily Loans in
Geneva, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Geneva, IL

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

All major multifamily lender types are lending in Geneva.


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


Geneva Market

The city of Geneva in Kane County has a population of 21,809. The median rent in Kane County for a 2 bedroom is $1,417. The median Geneva resident is 43 years old with a yearly income of $46,173. The average family has 3.1 members and a median household income of $111,916. Geneva has a 59% higher education rate. The unemployment rate in Geneva is 3.7%.


Population
21,809 people

County
Kane County

Renters

16.6% of Geneva households are renters.


Rent Burden

27.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Kane 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

Geneva Demographics


Median Individual Income
$46,173 / year

Median Household Income
$111,916 / year

Families w/ Dual Incomes
62%

Unemployment Rate
3.7%
Household Income Distribution
Geneva, IL

Median Age
43 years

Avg Family Size
3.1 people
Age Distribution
Geneva, IL

College Education or Above
59%

STEM College Graduates
38%
Education Distribution
Geneva, IL
Source: U.S. Census Bureau

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