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Multifamily Loans in
Glastonbury, CT

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Glastonbury, CT

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Glastonbury 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 3.03% - 3.28%
7 Year Fixed 3.19% - 3.64%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Glastonbury 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 04, 2021


Multifamily Lenders in Glastonbury, CT

All major multifamily lender types are lending in Glastonbury.


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 04, 2021


Glastonbury Market

The city of Glastonbury in Hartford County has a population of 34,564. The median rent in Hartford County for a 2 bedroom is $1,437. The median Glastonbury resident is 45 years old with a yearly income of $55,413. The average family has 3.08 members and a median household income of $120,837. Glastonbury has a 63% higher education rate. The unemployment rate in Glastonbury is 4.4%.


Population
34,564 people

County
Hartford County

Renters

20.2% of Glastonbury households are renters.


Rent Burden

32.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Hartford County 1
Connecticut 2
National 2
Studio $948 $974 $737
1 bedroom $1,164 $1,155 $813
2 bedroom $1,437 $1,442 $1,015
3 bedroom $1,787 $1,820 $1,325
4 bedroom $2,089 $2,144 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Glastonbury Demographics


Median Individual Income
$55,413 / year

Median Household Income
$120,837 / year

Families w/ Dual Incomes
64%

Unemployment Rate
4.4%
Household Income Distribution
Glastonbury, CT

Median Age
45 years

Avg Family Size
3.08 people
Age Distribution
Glastonbury, CT

College Education or Above
63%

STEM College Graduates
51%
Education Distribution
Glastonbury, CT
Source: U.S. Census Bureau

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