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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Geneva 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 $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.70% - 6.94% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Geneva.
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%.
16.6% of Geneva households are renters.
27.7% median household income spent on rent.
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 |
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