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Multifamily Loans in
Lombard, IL

Overview

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

Get multifamily loan quotes for Nov 26, 2021


Multifamily Loan Rates in Lombard, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lombard 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 Lombard 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 Lombard, IL

All major multifamily lender types are lending in Lombard.


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


Lombard Market

The city of Lombard in DuPage County has a population of 44,303. The median rent in DuPage County for a 2 bedroom is $1,417. The median Lombard resident is 38 years old with a yearly income of $41,605. The average family has 3.15 members and a median household income of $82,461. Lombard has a 48% higher education rate. The unemployment rate in Lombard is 4.0%.


Population
44,303 people

County
DuPage County

Renters

30.5% of Lombard households are renters.


Rent Burden

28.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
DuPage 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

Lombard Demographics


Median Individual Income
$41,605 / year

Median Household Income
$82,461 / year

Families w/ Dual Incomes
61%

Unemployment Rate
4.0%
Household Income Distribution
Lombard, IL

Median Age
38 years

Avg Family Size
3.15 people
Age Distribution
Lombard, IL

College Education or Above
48%

STEM College Graduates
45%
Education Distribution
Lombard, IL
Source: U.S. Census Bureau

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