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Multifamily Loans in
Longmont, CO

Overview

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

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Longmont, CO

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Longmont 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 3.56% - 3.80%
7 Year Fixed 3.39% - 3.63%
10 Year Fixed 3.56% - 3.80%
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 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
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 Longmont 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 Longmont, CO

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


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


Longmont Market

The city of Longmont in Boulder County has a population of 97,261. The median rent in Boulder County for a 2 bedroom is $1,867. The median Longmont resident is 38 years old with a yearly income of $35,100. The average family has 3.14 members and a median household income of $74,242. Longmont has a 43% higher education rate. The unemployment rate in Longmont is 5.0%.


Population
97,261 people

County
Boulder County

Renters

39.3% of Longmont households are renters.


Rent Burden

33.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Boulder County 1
Colorado 2
National 2
Studio $1,385 $873 $737
1 bedroom $1,547 $932 $813
2 bedroom $1,867 $1,168 $1,015
3 bedroom $2,556 $1,570 $1,325
4 bedroom $2,947 $1,825 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Longmont Demographics


Median Individual Income
$35,100 / year

Median Household Income
$74,242 / year

Families w/ Dual Incomes
60%

Unemployment Rate
5.0%
Household Income Distribution
Longmont, CO

Median Age
38 years

Avg Family Size
3.14 people
Age Distribution
Longmont, CO

College Education or Above
43%

STEM College Graduates
51%
Education Distribution
Longmont, CO
Source: U.S. Census Bureau

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