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Multifamily Loans in
Lewiston, ME

Overview

Lewiston is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Lewiston are considered greater risk due to market dynamics. Interest rates for multifamily loans in Lewiston are higher than the national average. Lewiston apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Lewiston.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Lewiston, ME

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lewiston 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 $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.78% - 4.02%
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®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
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 Lewiston 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 Lewiston, ME

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Lewiston.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Lewiston Market

The city of Lewiston in Androscoggin County has a population of 36,225. The median rent in Androscoggin County for a 2 bedroom is $995. The median Lewiston resident is 40 years old with a yearly income of $25,741. The average family has 2.77 members and a median household income of $44,523. Lewiston has a 20% higher education rate. The unemployment rate in Lewiston is 4.6%.


Population
36,225 people

County
Androscoggin County

Renters

49.8% of Lewiston households are renters.


Rent Burden

30% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Androscoggin County 1
Maine 2
National 2
Studio $720 $700 $737
1 bedroom $774 $761 $813
2 bedroom $995 $956 $1,015
3 bedroom $1,276 $1,232 $1,325
4 bedroom $1,559 $1,424 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Lewiston Demographics


Median Individual Income
$25,741 / year

Median Household Income
$44,523 / year

Families w/ Dual Incomes
48%

Unemployment Rate
4.6%
Household Income Distribution
Lewiston, ME

Median Age
40 years

Avg Family Size
2.77 people
Age Distribution
Lewiston, ME

College Education or Above
20%

STEM College Graduates
40%
Education Distribution
Lewiston, ME
Source: U.S. Census Bureau

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