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Multifamily Loans in
Lansing, IL

Overview

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

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Lansing, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lansing 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 3.00% - 3.25%
7 Year Fixed 3.20% - 3.65%
10 Year Fixed 3.20% - 3.60%
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 Lansing 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 Lansing, IL

All major multifamily lender types are lending in Lansing.


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


Lansing Market

The city of Lansing in Cook County has a population of 27,402. The median rent in Cook County for a 2 bedroom is $1,417. The median Lansing resident is 40 years old with a yearly income of $31,052. The average family has 3.28 members and a median household income of $53,940. Lansing has a 24% higher education rate. The unemployment rate in Lansing is 11.0%.


Population
27,402 people

County
Cook County

Renters

34.6% of Lansing households are renters.


Rent Burden

34.1% 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

Lansing Demographics


Median Individual Income
$31,052 / year

Median Household Income
$53,940 / year

Families w/ Dual Incomes
46%

Unemployment Rate
11.0%
Household Income Distribution
Lansing, IL

Median Age
40 years

Avg Family Size
3.28 people
Age Distribution
Lansing, IL

College Education or Above
24%

STEM College Graduates
35%
Education Distribution
Lansing, IL
Source: U.S. Census Bureau

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