Loading...

Multifamily Loans in
Hoffman Estates, IL

Overview

Hoffman Estates is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Hoffman Estates are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Hoffman Estates are some of the lowest nationally. Hoffman Estates 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 Hoffman Estates.

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Hoffman Estates, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hoffman Estates 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 2.99% - 3.23%
7 Year Fixed 3.18% - 3.42%
10 Year Fixed 3.38% - 3.62%
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 3.19% - 3.44%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.39% - 3.79%
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 Hoffman Estates 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 Hoffman Estates, IL

All major multifamily lender types are lending in Hoffman Estates.


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


Hoffman Estates Market

The city of Hoffman Estates in Cook County has a population of 50,932. The median rent in Cook County for a 2 bedroom is $1,417. The median Hoffman Estates resident is 39 years old with a yearly income of $40,945. The average family has 3.27 members and a median household income of $91,917. Hoffman Estates has a 48% higher education rate. The unemployment rate in Hoffman Estates is 3.4%.


Population
50,932 people

County
Cook County

Renters

24.3% of Hoffman Estates households are renters.


Rent Burden

27.5% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Cook 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

Hoffman Estates Demographics


Median Individual Income
$40,945 / year

Median Household Income
$91,917 / year

Families w/ Dual Incomes
62%

Unemployment Rate
3.4%
Household Income Distribution
Hoffman Estates, IL

Median Age
39 years

Avg Family Size
3.27 people
Age Distribution
Hoffman Estates, IL

College Education or Above
48%

STEM College Graduates
51%
Education Distribution
Hoffman Estates, IL
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day